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Hey, this is Dan Lok Hey, today we are going to talk about, should I take my seminar business online now? I cannot tell you what you should do. I could only tell you what I did for many years. I was speaking and conducting seminars and events locally, or across north America. I would go into different cities and I would go to the US, but mostly within Canada. So I was serving a local market and we have done that successfully for many, many years, but my business remained small. It was okay. But when I made the decision, instead of serving just a local market or serving people within a certain geographic area, I went global. And the minute I did that, my business exploded it has to do with this concept. And that is the concept of TAM. Now, for those of you who understand finance, this is a term that we use all the time.

I’m a managing partner of a venture capital firm called Dragon X capital, total addressable market. That’s the question we ask entrepreneurs and founders all the time. What is your TAM? How big is your total addressable market now? Same thing when it comes to your coaching and consulting and expert business. Think about it. If you’re only selling people within your country, that’s how big the market is. So we went from just serving a local market to a global market, and now we have clients and students from 151 countries just think about it 151 countries. We went from millions of dollars to tens of millions, of dollars to hundreds of millions of dollars, simply because we expanded our TAM. So here’s what I would recommend. I’m the same. I’m the same mentor on the same coach, but now my market is so much bigger. So if you have a seminar business, here’s what I did.

And here’s what I would recommend if you’re doing any kind of event right now think about, can you do a virtual event? Can you add virtual events to what you do? We have a 3 day virtual event called a smart challenge where we stream to the world. We have experts and coaching consultants from all over the world, attend this virtual event three days. So that’s virtual. That means there’s no limitation. Now you could serve the world. We also have a 3 day hybrid event called high ticket mastery, which has the in person component at the same time, we also stream to the world. So something for you to consider, maybe a combination you are doing in person, but why not also sell tickets so you can serve more people expanding your TAM. We also have a high-level and high-end in-person event called the dragon summit, where we have 9 figure and 10 figure entrepreneurs gather together. And we learn from them. That’s once a year, that’s our annual in person event. So the question is, should you take your seminar business online? The answer is if you could expand your TAM, your total addressable market for your seminar business. Absolutely. You should do it until then go high ticket.

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