The Psychology of Selling To Affluent Chinese – The Art of Selling to Affluent Chinese Ep. 8

– Actually, brought up a
good point into media person. So, how do you get to these guys? Sometimes, it’s hard but they have a lot of friends and these guys want to
make money, by the way. That’s why, like I tell
you in real estate, it’s ridiculous how it works, okay? – [Narrator] The King
of High-Ticket Sales, World’s Highest-Paid Consultant, Media Celebrity, Multi-Millionaire Entrepreneur Acclaimed TEDx Speaker, International Best-Selling Author, Dan Lok. – So, let’s say you are a realtor. You’ve got a $3 million property. This guys comes to you and
says, “Hey, I know a buyer. “My buddy got a lot of money. “Wants to buy a house.” Cool. Let me show the house. Oh, he loves the house. He would love this place. How much commission you make? I want a kickback. So, whatever you make, I want some. And this guy takes the deal to this guy, “Hey, I know this guys is
going to give me some kickback. Want to make some money?” And this guys wants to get paid and this guy wants to get paid. Now, this guys comes in now finally after many
meetings comes see the house, “I do like the house. “What kind of commission you are making? “I want a fucking kickback.” (laughter) Now, as the agent you’re like, “Shit! “If I give you kickback “give you kickback, give you kickback.” I got, what? – [Audience] Nothing. – Nothing left. So, question is, “Should you do the deal, should you not do the deal?” – [Audience] Yes. – Why? Why yes? Why no? – [Audience] Earn their trust. – Earn their trust, yes? – You might think short term, you’re like, “Fuck these guys.” But to me, it’s a marketing cost. Because now, you’ve paid this guy off. That’s okay. You pay this guy off. That’s okay. But who do you have a relationship now? From now on? – [Audience] The boss. – Yeah. That’s okay. Remember the Onion Theory? You don’t think so. Don’t look at that as
a one-time transaction. That’s the mistake. You don’t do one deal. You don’t know what this guy’s thinking. He’s thinking buying a $3 million home? He might be a developer. Now, he said, “You know what? “I’m looking for $20 million, “$15 million land. “Find it for me.” How do you know? And this time he will say, “You know what? “You’re doing a good job. “I don’t need kickback. “Do your thing. “I’ll get you paid.” It’s much more complex than that. You see how it works? They just interpersonal relationships. It’s a lot to it. So it’s not so cut and
dry and black and white. No, this guy and this
guy are losing money. No. Imagine say, “You know what? “Fuck you, I’m not going to pay you.” And this guy’s not getting
paid and this guys will say, “You know what? “This guy is an ass. “He’s not trustworthy. “Don’t deal with him. “Deal with this guy.” He’s going to get paid, right? “Deal with this guy. “He’s the best.” “Okay, fine. “I’ll deal with this guy.” Even all the time you’re
trying to develop the trust, they still trust their friends more because they are little bit more in the inner layers of the onion. You get it? That’s what I’m talking about. It’s much more complex in there. It’s much more complex than that. So you have to, case-by-case. Doesn’t mean you have to do it. But I’m just telling you, referrals, they expect to get paid. They want to make money. And one thing about Chinese is the difference is doesn’t
matter how much money they have they still want to make more. In here, we are much more about lifestyle. What is it? – Lifestyle.
– Lifestyle. But hey, you know what? I want to make certain amount, want a certain amount time off, I want to have a lifestyle, balance. Yes, right? Chinese don’t think that way. They make a million, they want to make two. If you’re worth 100 million here, they still want to make money. They’re worth a billion, they
still want to make money. And even that little bit of money? They still want to make it. You see? This guy, this guy maybe half a million this guy could be worth two, 10 million. He still want the 10 grand from you. Believe me. Because the way he’s
thinking is, “At least, well, “pays for my kids education “or my mistress’ Chanel
bag or some shit, right?” That’s how they think. Just knowing, that’s how they think. That’s who you’re dealing with. Affluent Chinese think, if
you’re a trustworthy person so everything you do must be trustworthy. That’s why take the time
to earn their trust. The secret is be friends
before be clients. Be friends, just talk about things Don’t try to sell right up front. It does not work. It does not work. Be friends. Don’t try to so eager,
“Oh, let’s do business!” No, just be friends. Act like a professional. You’re an expert, you have expertise, you can solve people’s problems. May not be their problems. Maybe you can help them maybe not. But don’t be like, “Oh, please, please,
please let’s do business.” They hate that. They hate that. So what? You have the money. Doesn’t matter how much money they have. I’m not just talking
about affluent Chinese, any client that you deal with. Just because they have money, doesn’t give them power over you. Okay. Write this down. So, you have the money. Okay. But you’ve also got a problem. Whatever that problem might be. I have the solution. You give me the money and
in exchange I will help you solve the problem. Keep your money. Keep your problem. You’re a problem solver. So, don’t be like, “Oh, please,
please he’s got the money.” Doesn’t mean anything. Keep your fucking problem. Be, act like a professional. Act like you don’t need the money. Even though you desperately need it. You don’t need the money. Because that desperate
energy doesn’t close deal. Nobody wants to deal with a loser. Everybody wants to deal with a winner, someone who’s successful. Yeah. Success breeds success. Yes? Question? Go to mic so I can get it. Thank you. – Hi, can you hear me? – [Dan] Yeah, what’s your name? – Vicky. – [Dan] Hi, Vicky. – Hi. Hi, hi. Okay, so I’ve been really
interested in what you’ve been saying because I’ve been
experiencing some of these things. (Dan laughs) And so one my first questions is, can you instigate the meetings
yourself with your customers or is it more polite
for them to come to you and wait for the meetings? Because I know that
looking for information– – [Dan] Oh, that’s a good question. So should you initiate the meeting or wait for them to kind
of initiate the meeting? If the affluent Chinese,
if they are interested in doing business, they
will initiate the meeting. – [Vicky] Okay, that’s good to know. – And would usually they say,
“Hey, I want to meet more.” So don’t feel like they’re bugging you say I want to meet more and more. Because sometime you’ll think
that, “They don’t trust me. “What’s going on? “Why are they meeting me so many times?” No, no. They want to meet more
because they trust you. – [Vicky] Good. Okay. – So it’s a good thing. But if they say, “Yeah, I kind of want to meet
but I’m too busy and this.” And they kind of pushing you away. Then that means they do not trust you. – Good, okay. Got that. All right. And so I’ve also been asked to bring information
to the meetings. But they’re always like
you say round lounges. So is it normal to bring your
business information to and have your documents on the page? That’s not impolite? – [Dan] I mean in China,
I’m telling you, ma’am. They bring their business documents and they bring their business
plan while they’re getting a spa, while they sing karaoke,
and sign the fucking deal. – [Vicky] Yeah, that’s what I’m very– – That’s how they are. Yeah, it’s very normal. Doesn’t mean they read that shit. – [Vicky] Yeah, okay. Good, good. All right. – Yeah but that’s how they are. Just knowing that is very normal. – [Vicky] But they want
you to have done the work for the meeting. – Yes, yes, they expect that. – [Vicky] And even if they
don’t read it they want to know you’ve read it and you’ve
done the work for them. Okay, so another question. Gifts. This is something that I’m experiencing. They told me that bringing gifts to me from China and I was thinking, “Blimey! “What do I give to them?” ‘Cause where I’m from you don’t accept a gift and
not give something back. – [Dan] Yeah, you always
want to give something back. – Yeah, so what kind of
gifts do you give back? – [Dan] Now that goes to understanding… Now keep in mind if you’re dealing with a affluent Chinese, they already have a lot of things, right? So it’s gifts that has more
meaning, that’s more personal versus just a gift like a bot. Let’s say you know the guy really likes wine. A bottle of wine is nice but it’s more based on personal interest. I’ll give you a perfect example. Perfect example. Another realtor, not this
realtor, another realtor, dealing with a client. She knows that her client, the kid is coming and
wants to find a school. So, she has kind of a relationship with a certain principal in a certain college. So, then she got a recommendation
letter from somebody else and give that client as a gift. That is worth a lot, okay? – [Vicky] So say that again so I get it. – Okay, okay, so the client. affluent Chinese, has a kid
wants to go to school in here. No contacts. The realtor has a
relationship with someone who knows the school, right? So get a recommendation letter – [Vicky] Ah, That makes sense. – For the principal, whatever and then gets this kid into the school. That is worth, that’s priceless. – [Vicky] Yeah, because you
can’t buy that somewhere. – That’s what I mean. Like stuff like that? Man, if you do that you’re right in the middle
of the onion, right? – [Vicky] Okay. All right, that’s great. That answers my question.
– All right, boss? Question, question, question? So, what have you learned from my talk? And how does it apply to you? And how do you take the right action? Comment below and let me know. If any other questions,
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12 comments on “The Psychology of Selling To Affluent Chinese – The Art of Selling to Affluent Chinese Ep. 8

  1. Enjoy the video? Subscribe, Give it a Thumbs Up and Comment Below.
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  2. Are you saying to cater to corruption to get ahead? How do you know one of the guys you pay off early on won't come back for more or will mess up future deals because he feels used? Why not just hold these Chinese to the same standard you hold your other customers? Sounds like you are really chasing a client if you entertain these shinanagans. I would like to think if my product or service was what I wanted it to be, these "big bosses" would be trying to get to me…instead of me trying to get to them. Thoughts?

  3. Hi Dan . Great videos as always but i want to ask . i work in an mlm company and i was thinking about networking with wealthy people but i am scared . i am a college boy and i don't have a suit and i don't know what to say , how to start the conversation and etc etc . what should i do ?

  4. Dan! Again, Great Content! "Business is Built at Speed of Trust" Tracey Eaton. Relationships Capital is King!
    Thanks for great insider intel!

  5. I live in the pacific NW / amazon territory.  dan by any chance are you coming to speak here ?  gosh I will be in the front row.  wealthy Chinese coming to amazon territory.  yes they want kickbacks for buying real estate.  dan ??

  6. I was recommended by one of my friends on facebook to watch out your video. Great job bro… looking for more from yours. However good luck with your channel…….

  7. I see, Sifu. Now, I’m getting why my Dalian friends took the time to get to know me before discussing possible business ventures. Thank you.

  8. Besides all the other stuff. The comedy is on point. Body language of the presentation is strong but approachable. Lot to learn here.

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