Charge More Money and Why I Bought A Tesla

Hey, handsome people. You look good today. It's cause you're listening to Freedom Fastlane. Ryan, Daniel Moran here. And I'm coming to you today from. I'm at a marketing event right now. I figure Esther's five weeks old now. She can. She can survive on her own. So I went on a trip by myself, really, just to catch up on sleep.

As I'm at an event actually at a friend of mine's house where he's brought in a bunch of entrepreneurs at a very high level. There are a couple of billionaires here. There are some really advanced investors and entrepreneurs here. And I got invited and I had a couple of really interesting distinctions happen while here. That was a really nice segue into what I wanted to talk to you about today. But basically at this event, it's not necessarily.

An Internet marketing event or an Internet business event. It just happens to be a lot of really smart people in a room, and there happens to be kind of an emphasis on some Internet stuff, just the way the cards have fallen. But it's not necessarily like an Internet marketing event. So my expertise of how to monetize a website all of a sudden are valued at a much higher level. All of a sudden these power players who are not as familiar with our little community and want to be. My knowledge now is 10x the value of what it is when I speak in front of people who want to start a business. It's a very different positioning when you go to somebody who's got a few million dollars laying around and they want to invest it or they want to start a business versus somebody who says, I can't pay my rent this week. I should go look up on the Internets to see how to make some monies online. Very different value proposition. Same set of skills, different value. So in this room, the experiences I've had of buying and selling websites, investing in web portfolios, monetizing websites, simple, like, simple stuff that most people learn when they're starting a business is all of a sudden extremely valuable. I mean, millions of dollars type of valuable. And it got me thinking about.

Our little community and a problem that I see happening in a lot of. A lot of the students that I teach and people who start businesses because it got me thinking about this idea of we sell ourselves so short by asking such small questions and by thinking so damn small.

And in my career as an entrepreneur, this is a muscle that I have had to stretch because I came, I came from nothing. I was on the reduced lunch program at school. I am the son of a 30 year school teacher and a secretary, then single mom. That came from nothing. So when I graduated high school, $10,000 a month was a lot of money to me. And when I graduated college, a million dollars a year was a lot of money to me. And this was about the level that I thought at, at those different levels. Now I think about multi millions. I'm thinking about how do I buy the Cleveland Indians? What's my path? What was interesting is somebody at the gathering today in about 10 minutes, drew on basically the back of a napkin. Here's your plan to go public with your companies and go buy the Cleveland Indians in 48 months. Which was, it was such big thinking that it made me uncomfortable, which is what I want to be around. I want to be around people that make my brain have to look at the world differently. And I started to wonder as I'm around this group and my skills are so valuable in this group, I started to wonder.

What is really the difference between someone who charges a client $1,000 and somebody who charges a client $100,000 or the person who.

Who.

Is making $1,000 a month versus a million dollars a month. And a lot of times it's a couple little tiny tweaks like who you're targeting.

Sometimes you can offer the same exact service to two different people and the value add to each of those people is very, very different. If you offer investment advice, a 12% return to somebody who can't pay rent, that is a $47 ebook. If you give automated 12% return to somebody who's got a billion dollars in the bank, that could be worth $10 million to that person.

So who you target, same information, but who you target plays a completely different.

Fundamental change in what you receive. So this idea of sell to the masses, going to the masses, not always a good idea because you can sell a seventeen dollar piece of poop to everybody or you can sell the same piece of poop to one person for $17 million. I hope your product's not a piece of poop. That's a recurring joke for those of you who listen to the show.

0 for 1 on jokes on today's show. So.

The tweaks in your business. I was talking to a girl today who is.

She helps small businesses put on their big boy and big girl pants.

By just changing their branding. And she was telling me that by just making tweaks in the messaging of websites, sometimes the $30,000 client that was hard to sell all of a sudden becomes really easy to sell just by changing a couple of words because you target a different type of client or you present your way, your value add proposition changes just a little bit so that you can get the higher clients. My first action question for you today is, is there a way for you to either tweak your messaging or target a different clientele with the products and services that you have so that you can charge more money.

While working less? I learned something interesting a couple of years ago, which was that I got more business and had better clients and was taken more seriously when I raised my prices. Kind of an interesting idea because you target somebody completely different.

Who, although it's the same information, could be worth more to them. And you start to attract the people that you're in the audience that you're already hitting and weeding out all the people that you shouldn't be working with anyway.

So for me, this is a muscle that I constantly have to stretch in the sense of like I've just gotten comfortable with the idea of somebody paying me $100,000 for something. I'm just getting comfortable with this idea.

But it used to be that I had a hard time with asking somebody for a $10,000 close or even a $1,000 close. You know, when I was 22 years old, I launched my first, what I considered high ticket program. And it was a phenomenal program. It was about.

Investing in websites. It was called E Tycoon. And E tycoon was a $997 program.

And I taught people how to build sites and sell them for profits. I taught them how to buy sites at discounts, fix them up so that their profits quadrupled, resell them if they wanted to, how to position their sites to get the maximum payday and be valued the most.

It was a damn good course.

And I sold it for $997. And I did not sleep for three months because I worked so hard to ensure that the clients and the students that went through that program had the most amazing experience and had the most.

Access to me. And they had all the information they would need to be successful. And a few people went on to be successful. And a few people took the information, said this is nice, and didn't do much with it. And a few people went out and trashed me on Internet forums about it being they gave me $1,000. But what's interesting is that one of the individuals here at this event that I'm in took similar information to me, in fact, inferior information to me, just about buying websites and has a multi Multi million dollar website investment fund doing about 10% of the stuff that I taught in that course.

And there's a lot of value add to the other 90% of me working with an individual like that to help him do it correctly with the 90% that was left on the table.

So who you target with the exact same information plays a big role in your results. Sometimes it's not you, sometimes it's the people you're targeting, which I guess is you. But it's not your content all the time. And so many people give up when they hear no, or they give up when they get bad feedback. And the problem isn't always the content. Sometimes it's just who you're giving the content to.

You may be a multi million dollar expert knowing exactly what you know if you put that in front of the right person. So I stretch this muscle by asking really weird questions. So let me ask you a really weird question. Who would pay you $100,000 for the knowledge that you currently have?

And what do you have of value that you could offer to someone for $100,000?

And if nothing comes to mind, sit on it for a bit, and if still nothing comes to mind after a couple of days, drop it to 15, 50 or $25,000. And it's not an easy question for a lot of people. And I don't even know if a year ago I could have answered this question. I know it now. But it was revealed to me two years ago. It was.

Who can I add $10,000 worth of value to? Now I have a policy, a personal policy in my life that I don't take money unless I know I can provide at least 10 times value to that person.

So if I make a transaction, I want to be able to provide 10 times somebody gives me $10,000, I better be able to deliver $100,000 worth of value to that person by delivering the service that I'm going to deliver to them. So when I say, what am I worth or who would pay me $100,000 and for what? Okay, where would I provide a million dollars worth of value? Well, I provided a million dollars worth of value for clients before that were paying me $4,000 a month. Was I selling myself short at that point? You better believe it. Now, did I need to sell myself short a few years ago when I was transitioning between businesses? Yeah, maybe to get experience and get referrals and prove to myself and my clients that I could do it. But today.

You better believe that I know that I can provide a million dollars worth of value into businesses. So I can charge $100,000 up front to someone or take a piece of the action knowing that I'm going to get that hundred grand.

And I know that now I've been able to stretch that muscle. And now I'm to that point where I can ask crazy questions like that. I'm encouraging you to ask yourself wacky questions that may seem absurd to you. Sometimes I pull out my journal and I just say how can I turn Freedom Fast Lane into a billion dollar brand? If I was really committed to turning this into a billion dollar brand, how would I do it? And how would I have to think in order to do it? Who would I have to meet in order to do that? And what this does is it gets that muscle moving. It gets that that muscle of how big your brain can think and it stretches that.

I have a buddy, Jesse Elder, he's been on the show a couple of times and he has this quote that I think is just beautiful. And it is this that the amount of money that you allow into your life is in direct proportion with the amount of self love that you maintain. I'll say that again. The amount of money that you allow into your life is in direct proportion with the amount of self love that you maintain. There's a lot of heavy words in that like allow the amount of money that you allow into your life. That assumes that you're blocking it in the first place. And you're blocking it by BS stories about why you can't have it and BS stories about the value proposition that you're offering. It's the blockages that need to be removed.

So the amount of money that you allow into your life is in direct proportion with the amount of self love that you maintain. What does that mean? It sounds really woo woo, doesn't it? But the way I interpreted this was simply the fact that when you go and you say such and such is a thousand dollars, that takes a certain amount of self love.

For you to write a book and sell that book for 20 bucks. That takes a certain amount of self love.

Because you're putting a piece of yourself out there. And then when you say my services are $100,000 up front and then 10% of the profits, that takes a different amount of self love. So how much are you willing to allow in however much you have self love? Not that type of self love. Get your mind out of the gutter. One of the best ways to do this outside of journaling I found, is getting around people who Just blow your mind. I told the story earlier that I was around a guy today who in about 10 minutes was like, here's your plan to go public with your businesses and raise a billion dollars so you can buy the Cleveland Indians in four years. And I didn't know if I had taken a cup to the fountain of genius or if I was in a loony bin because he was using words and talking in language that I felt like I was drinking from a fire hose. So was this person straight out of the loony bin? Who knows that or he was a genius? I don't know. I'll follow up with him and find out. But it was one of those conversations where he, he mind melded me in the way of. Rather than thinking about owning the Cleveland Indians before I'm 50, he was like, here's when you can do it when you're 31, which, which, you know, I, I'm, I'm. I was unable to keep on pace with that level of thinking. But hearing that alone made my brain think at the next level.

I may add a few million dollars to my balance sheet just as a result of that conversation because I had to think differently when I heard him talk to me because my brain had to go out and get new thoughts. And that is usually the sign. That's the sign that you're growing in some capacity. And the fastest way that you hack that is by getting around people that just mind meld you because they ask you questions and they have perspectives that you haven't considered before.

And they ask questions like who will write you a check for a million dollars? That when you're, when you're settling for scraps and the idea of a million dollars is absurd to you, and then you meet the person who regularly closes million dollar deals, then that's when your mind is melded and you up level. You have to. It's the ultimate biological brain hack. Your mind just shifts and you have to think differently in order to comprehend what you just saw or heard.

That is the fastest way to hack your growth. I recently bought a Tesla.

I, I shouldn't, I want, I don't want to say upgraded because I, I love Makia Sportage. I brought. I dry. I drove a bright orange Kia Sportage. Her name was Bruce. And Bruce and I have been together for about 65,000 miles. And I love this car. It's got a turbocharged engine, gets 30 miles a gallon, has air conditioned seats, double sunroof.

I love Bruce.

Bruce. Out of every car on the market, I still would like to drive Bruce, I don't want another car, I want Bruce.

And Bruce is a Kia Sportage who I love.

But as far as thinking goes, I've outgrown her. I've outgrown Bruce, guys.

So instead of driving my Kia Sportage, I now drive a Tesla.

And Tesla's name is Jenny, by the way, named after Mark. Jenny, one of my mentors, my best friend in the world, who helped me think like a successful person and was that person for me, who mind melded me to make me think very differently, make me think much bigger than what I had been settling for, and kept telling me when I was falling short and selling myself short for my abilities.

Now every time I get into Jenny, my Tesla.

And I drive my Tesla.

Just for the fact of the matter that it's a hundred thousand dollar car makes me think differently than when I'm driving Bruce.

Even though I love Bruce, when I am driving Bruce, I don't think about.

Million dollar ideas. But for whatever reason, just the fact of the matter that I paid $100,000 for this car that I think flushes my face of blood when I hit the accelerator. It makes me just think differently. I recently bought a very expensive suit, and I bought the suit a because I look frickin good in it, but also because by having the suit, for whatever reason, I just think differently than when I'm wearing a suit from K and G.

And these are their investments because of what it does to my brain.

And when that happens and you get used to driving the Tesla and wearing the expensive suit and the expensive clothes and going to expensive restaurants, when that becomes normal to you, then all of a sudden asking for the hundred thousand dollar client doesn't seem so bonkers anymore.

And whatever level you're at, that can be up leveled very quickly by getting around people who think way differently than you, by asking yourself questions that you don't even have answers to, but you force yourself to come up with answers even if you're not going to, you don't have to do anything with the answers. They're just a way to stretch the muscle of your brain.

And you fundamentally change as a person as a result of those new thoughts. That's how you consistently level up. I'm almost scared of five years from now I'm gonna have to ask myself, okay, what do I got to do to, to provide a hundred million dollars worth of value to this client so I can charge 10 million.

That makes me a little bit nervous now because right now I'm at like the Hundred thousand to a million level.

And I will continue to stretch that until I'm in my front office chair.

At the Cleveland Indian Stadium.

So your takeaways for this are a. Your knowledge may be worth more than you're currently selling it for just because of who you're positioning it to. This is actually a sticking point for me because I've been talking about new business and entrepreneurship for a long time that I've sold my expertise short. Because when I go to experienced business people who want to start a new business, or when I go to investment funds who are investing in businesses, or I go to people who are really successful that are going in a new direction, all of a sudden what I know is worth 10 times more. And that's a muscle I'm stretching right now because I've been targeting the same people for a really long time.

So is there a way that you can reposition what you're doing to target a better audience? This is even true with physical products people. A lot of you sell on Amazon. I know a lot of Amazon sellers. Listen to Freedom Fast lane. This is true with physical products.

Tesla's a physical product.

This is true in any business.

If you're just selling cheap knives, it's because you are selling to people who like cheap knives. Are there thousand dollar knives? Yeah.

Are there profits more than the people selling cheap knives? A lot of the time, not all the time. Depends on what the volume is.

Are there boots and shoes that are $50 and other boots and shoes that are $500?

I was consulting with somebody today where I said they wanted to test a new info product that they were launching. And I said, look, just go test $2,000 worth of Facebook ads to a webinar that sells your info product. Is that really going to sink you? Is that going to hurt you? And this person said, ah, it's a couple pairs of shoes.

So are there physical products that are cheap and are there physical products that are expensive? You. You bet this is true in any business. So your first obvious takeaway is identifying who your actual target market is. Not who it's been, but who is it most valuable to? What is your product or service? Who is that most valuable to? Because they will pay the most money for that.

Number two, stretch your muscle of thinking bigger. The two hacks for this are asking yourself questions that you journal about and getting around people who just make you think differently. Do you know how many people, three years ago I walked away from teaching the whole info product business way of doing things and so many People said they wished that they had been able to do that, but they were addicted to the money. And they still say to me today, I don't know how to up level my business because I've been doing things the same way forever and servicing the same market and the same crowd. And our industry has been thinking at the same level and peddling the same models because we're all trying to short how to make a few bucks rather than thinking about how do we up level who we are and what we're doing so that we blow out of the water anything that we thought was possible and breaking the paradigms of what we knew that was possible for ourselves. When you start thinking about that, when you start thinking about impacting industries and you start thinking about impacting people's lives, going to people who will really value what it is that you offer you up level.

That is why I decided to do Freedom of Fast Lane live. Because I know that when you get around people who just fundamentally change you, rapid growth happens not by buying some product or by.

Sometimes reading a book, but really by getting around people who look at you, ask you a question and make you think differently. I hung out with the founder of Priceline here a couple days ago. I think he sold it for $900 million. I think. I haven't fact checked it yet, but I think that's what he sold it for.

And.

Just being around him for five minutes forced me to think about the direction I'm on completely differently.

You know, how would my life be different if those were the relationships that I had regular, the conversations I had regularly? How would your life be different if you were around people at that type of a level? Would you be at a different path by now? And if the answer is yes, why are you not intentionally getting around people like that? December 11th, 12th and 13th in Austin, Texas. We are putting that group together for you. And you can attend extremely affordably to be around that level of entrepreneur who thinks at a fundamentally different level than you and can create that type of fundamental change in you so that you see your life and your business differently. And all of a sudden you have a internal change that takes your life and business to the next level. People who own hundreds of millions of dollars in investments have built and sold companies in the hundreds of millions. And you'll see what the difference in the level of thinking, in the habits between you and and the ultra successful people. And you will probably find that the differences are small tweaks or questions or ways of thinking. That's the point because that's hackable. That is assumable. Strategies and roadmaps and business models aren't always blueprints, but ways of thinking are often assumable by osmosis, meaning you get around it and you become that. That's why we're doing Freedom Fast Lane live. The website's freedomfastlanelive.com As I record this, there's an early bird registration, which means that you can get front of the line access. Because this is going to sell out, it's going to sell out fairly quickly. So having early bird access gives you a head start in front of everybody else. Before we go live. If you're listening to this after we've already launched, if there are tickets available, I would recommend grabbing them because they're going to go out quickly. If you even see a live button, it means we're about to sell out. So go get a ticket. That's my pitch for the day. I rarely pitch things here on Freedom Fastlane Live, but the value exchange that will happen at this event may be the greatest value exchange you've had in three days in your life. And if you miss that, oh, gosh, you just don't want to miss Freedom Fastlane Live 2015. Freedomfastlanelive.com is the website. This is an opportunity for you to stretch and expand your thinking in the same way that I had it when a billionaire looked me in the eye a couple of nights ago and asked me questions that made me think about my business differently. Or with the.

Dude tonight who came up with a billion dollar plan for me and like 10 minutes on a napkin and I'm still processing the whole thing. And it kind of inspired this podcast episode. That's the kind of change that you can experience by getting around people who are at a completely different level than what you knew is possible. No matter what. Are you intentionally getting around people who take you to another level? Are you networking with people who make you uncomfortable? Are you providing value for people that you want to mentor you? Somebody asked me today, they're like, how do you find mentors? Like, you bust your ass and you provide value for the mentor until they can't ignore you anymore.

Sometimes entrepreneurs, I actually heard this happen tonight. One entrepreneur, somebody who wanted to be an entrepreneur, turned to a buddy of mine and said, will you mentor me?

And he said, no, there was no value exchange. We all have an account of social capital that we are building up. When you spend time with your friend, you are putting money into that social bank account, and that's why you can call your buddy in the middle of the night and say, I've got a flat tire. Please come rescue me. And he or she will. Because you've spent a lot of time building up that social bank account with mentors, people that you want to spend a tremendous amount of time with you telling you what to do in your business. You've got to go put some deposits into that social bank account before you can cash the check. So just going to people and saying, hey, will you mentor me? Is the most ridiculous value exchange because you provided nothing and it asked for the world. So if you want to go be mentored by people, go make some deposits. Deposits into your social bank account. That was a rant out of left field. But are you making deposits into bank accounts of people that you want to be around, that you want to mentor you, that you want to continually stretch you and bring you to a next level? Because if you're not, then you're not growing, and if you're not around people that stretch you, then you're not going anywhere. That's why I did Freedom Fasting Lane live for both myself and my audience. No matter where you are or what you're doing, build that muscle of asking yourself ridiculous questions so you're forced to have new thoughts and getting around people who stretch you and take you to the next level. That is how success is hackable. Thank you for listening. I'll see you on the next episode of Freedom Fast Lane. If you're not subscribed, subscribe to this. Let's make this official. Hit the dang subscribe button so you don't miss any of these rants from left field or any of these tips to go to the next level, and I'll see you in the next show.