Download: MP3 (63.9 MB)
You can get a lot on the internet for free. I truly believe you can attain 80% mastery in any field with information freely available online.
Why pay for anything then?
Free content abounds, but it is fluffy. You have to wade through a lot to get to the gold nuggets. Paid material like courses cut straight to the point.
You have time and you have money. In the beginning, you have more of the former. This means you can wade through the free content to find the gold without paying. This is smart to do.
Eventually though, if you’re growing, your time is worth more than your money. Eventually you have more money than time. If you don’t learn to recognize this point and start buying time with your money, you will lose.
At some point, it makes sense to invest in a curated resource that gives you everything you need to know and nothing more. Paid resources that people have spent months or years curating will save you a ton of time scouring the internet for something comparable for free.
In this episode, Matt and I discuss the mindset behind paying for things instead of only consuming free material. I also share the $1,000 product I bought that made me $18,000 the very next day.
It’s a good one for those of you who are wanting to create courses too. You get to tap into the mindset of people who are willing to pay top dollar for a small amount of time saved. These are the people you need to target.
Highlights, Takeaways, Quick Wins
- The smart business person understands that you have to put money in to get money out.
- When you have more money than time, you can use money to buy time.
- Investing in yourself is the best kind of investment you can make.
- Don’t use free content forever, because you’re losing money by doing that.
- It’s powerful to get someone who’s very knowledgable in the thing you want to learn to coach you.
- Challenge yourself to be better.
- When you pay for things, it’s helping the creators continue to do what they do.
- Don’t be a freeloader when you get to the point where you need to move to the next level.
- By charging for what you’ve made, you make sure that people are invested.
- Paid material is almost always better than what you can find for free.
- What is the value of the right piece of advice at the right time?
- 17:42 Matt: I didn’t get where I am because I inherited it. I didn’t get here by waking up one morning and deciding, “I’m going to be an investor and own a lot of businesses.” It took a lot of reading, research, and after I got to that point, because I was still working my day job, I had to get mentored. Mentors referred me to other smart people who had different resources, like books and audio files.
When to Pay, When to Consume Free
- 18:17 Sean: All of this, every resource you could possibly want and need, is free, right?
- 18:24 Matt: It is, but then I hit the ceiling of the free stuff and my time started getting more valuable. Before, $20 an hour was awesome. Then it got to the point where I could make $2,000 an hour, and my mentor said, “Matt, you can’t be filtering through free stuff all day. I can’t pay you $2,000 an hour to look up free stuff. You need to invest in paid things that are structured, where everything is already in order, a packet to hit the ground running. It’s going to cost you, but you’re making a lot more now from the free resources.”
- 19:13 That’s something my mentors have always told me. He didn’t know about Mastermind groups, but he always told me to go to different meetings, local meetings, and talk to these different investors. Because I was kind of a newbie back then, they would tell me their explanations. They always had a speaker who would sell a course on paper of what to do with everything, the contracts, scenarios, and stuff like that. It got me thinking that this would be a great topic to bring here.
Eventually, you get to a point where the free stuff is still good, but you need to invest in yourself by buying courses, books, or audio books.
- 20:14 Sean: I was leading the conversation when I said, “That’s all free, right?” I know it’s not free. I truly believe you can get to 80% mastery in any field with free information on the internet, but that is doing it the slow way. People should devour as much free material as possible and apply the information. If you apply what you learn for free, you can make real money. You have two resources: time and money. Depending on your situation, you have more or less of one of them. In the beginning, you typically have more time than money. If you have more time, watch the free stuff, which typically has more fluff.
- 21:04 It’s going to take a little while to actually get to the nuggets. You have to wade through all of that, but you’re going to find the nuggets eventually. It’s free, and you have the time to do that. Now, apply it and go make some money. Do that until you have more money than time.
When you have more money than time, you can use money to buy time.
- 21:24 I can give you an example. I was doing the Learn Lettering 2.0 launch, my hand lettering course, and I made it available so the people who wanted it could just buy it, and they did. I think the first day was about $60,000, the second day was $30,000. It was a two week launch and there were people who procrastinated and waited till the end, and there were people who weren’t totally convinced yet. A great way to give people more value, convince them that you have good things to share, and show them that they should buy your product is to do a webinar.
- 22:07 I hadn’t really done webinars before. I was really busy with my launch, focusing on a bunch of things, and now I had to focus not only on the technical aspects of putting up a webinar, but I had to figure out how to structure this. What’s the format? I’ve done speaking presentations, but how is this different? It came down to the last minute, and I knew that I didn’t have time to research something that some people dedicate their career to perfecting. I bought a $1,000 course. Some people think, “That’s crazy! $1,000 course, that’s so much money!”
- 22:42 But I turned around and made $18,000 in one day from doing this webinar. That’s an 18X return, and that’s just the first time I applied it. I still have that knowledge and those resources to use the next time, the next time, and the next time. It’s a no-brainer. Matt, would you give me $1 if, in ten minutes, I gave you $18? Of course, but you have to learn to think at this level. The barrier here is massive, and some people never get past it. They are convinced that they are never going to fall for any of that online stuff and buy something. They’re going to find a way to get it for free, free alternatives, because they think they’re smart. There’s a lot of people that think this way.
Why Pay for Things?
- 23:34 “I’m never going to spend a dime,” they think. You can go through life that way, and you can find tons of great free stuff, but it is the slow way. The smart business person understands that you have to put money in to get money out. If you invest money in yourself, it’s going to come back. It’s the best investment you can do. What’s something people invest in to turn around and sell? For example, I want to buy a house for $200,000, market value. It’s not a crazy deal, but I’m going to buy it and, in a month, I want to sell it for $400,000. Is that easy or is that hard?
- 24:33 Matt: It can be kind of hard in the beginning to find the place.
- 24:39 Sean: If you turn around and want to sell this, you didn’t totally redo the whole house, you just want to turn around and sell it for more. You want to sell it for $400,000.
- 24:50 Matt: It can be done in the right location.
- 24:51 Sean: Matt’s a pro. He’s not going along with my example. It is hard if you’re not Matt to buy a $200,000 house and sell it the next month for $400,000. It is hard to do that. If you invest $1,000 in yourself, it is way easier to turn that into $2,000 than it is to turn $1,000 in real estate into $2,000.
Investing in yourself is the best kind of investment you can make.
- 25:58 Matt: If you guys learn anything from this show, obviously, invest in yourself, but the reason you want to invest in yourself is so you can learn different angles of what people think is the way of doing whatever it is you’re trying to learn. As an example, at a pretty young age, I learned not to let the competition learn more than me. Everybody has their way of doing things. We all have our own way of balancing our check book, making decisions, and all that. I thought, “What if, in a perfect world, I had my competition’s plans, the way they would do things, on a whiteboard?”
- 26:58 I did this by buying courses. I bought their courses. There are these webinars saying, “This is how I would do it and how you need to do it. For $1,997, I’ll tell you how to do the whole thing in a week.” Okay, cool. The majority of stuff I already knew, but there were some things I never would have thought of. One thing I’ve learned is that investing in yourself doesn’t have to mean that you’re trying to learn something 100% because you don’t know it, but it can be used as market research. We’ll buy books and things from the competition all over the United States and the world just to see what they’re doing and how they’re doing it, whether it’s funding deals, finding deals, the decorator, etc.
- 27:52 I’ve purchased interior decorating courses and stupid stuff like that. After purchasing five interior decorating courses, I can put together a mean curtain set. I didn’t think anything of it before. I thought, “Why do I need courses on that? I can just hire someone to do that.” Yes, you can. You will, eventually, but you need to have a foundation of understanding about this.
- 28:36 Sean: Right now, I’m all about investing in myself, because now I value my time more than my money. I care about getting there the quick way. I don’t mean overnight—to me, the quick way is 5 years vs. 20 years. I want to do it the smart way. Some people have been there before, and I want to apply what they’ve learned and what they’re willing to share. When you think in those terms, it’s a no brainer. These people are selling the knowledge they acquired over 20 years for $1,000 or $2,000? That’s nothing. We’re talking about six figures a year going to seven figures a year with this knowledge. You’re making a fraction of a percent investment.
- 29:31 Matt: If you were to sit down with this person, whoever it is you’re trying to buy the course or book from, it would cost you more to sit down and learn what’s on those pages or on that audio file. Think about it from that perspective. Once you get and pay for this, you’re going to make 100% on this. Eventually, you’re going to get to the point where, like Sean said, you buy this $1,000 course and make $20,000. You’re going to know this stuff.
- 30:00 When you see courses come up by big people that know their stuff, especially if they’ve been doing it for years and years and they show case files where they have success, jump on that! They’re going to accelerate your learning and, ultimately, the payments coming into your bank account.
Books are the number one investment you can make.
- 30:27 Sean: Books are really hard to write, and they’re the condensed version of someone’s lifetime of knowledge. The price to value ratio is ridiculous. Books are probably the best, and after that, I’d have to say courses and conferences have been the greatest value return for me. It won’t make sense until you’ve done it. If you haven’t been to a conference, you don’t get it. You think, “It’s just like watching a YouTube video of someone speaking, except you’re sitting down in a fold out chair instead of your computer chair.” No, it’s not like that.
Investing in Conferences, Courses, & Coaching
- 31:05 Until you buy a course, until you go to a conference, you don’t understand the value. When you do, you realize, “Oh my goodness. This is the best thing I’ve ever done.” I’ve registered for several conferences now, and I’m going to one in a few weeks here that I’m really excited about. I might talk more about it after I get back, because I’m not sure about it. I don’t want to say, “This is the conference,” because then people will think, “Oh, Sean’s going. It must be good.” I don’t know yet. I’m going to check it out.
- 31:39 I registered for another one that’s a year out. It’s a few weeks before seanwes conference, which we haven’t mentioned once in this episode. seanwes conference is happening in October of 2016, and we just opened up registration this week. There are early bird tickets, which won’t be available forever. The price is going up and it will go up permanently. This other conference I signed up for I purchased because I want to get around the people that are running it. I like what they do, their methodology, and their approach, and I would like to build a relationship with them.
- 32:33 I would like to talk with them. Maybe there’s opportunities in the future. I’ve come to understand that these relationships are one of the most important things. The whole, “It’s not what you know, it’s who you know,” is frustrating, but it’s so true. Have friends who are powerful, who have great audiences. This was a theme on the retreat I went on. They all have really big, six figure audiences, if not more. We did this unsolicited advice thing where you sit down and everyone talks about you like you’re not in the room (Related: e209 Unsolicited Advice – Recap of A Mastermind Retreat). You can’t say anything, you can only take notes. It’s really good. One of the things one person said about another guy was, “You don’t ask for help enough.”
- 33:42 “You could just say, ‘Hey, would you tweet about my new product?’ I’d say sure. You’ve never asked me for help. All you have to do is ask.” Once you get these kinds of relationships, good things happen. I have relationships with Nathan Barry and Shawn Blanc, which has lead to them now talking at my conference. I meet people at conferences, a friendship comes of that, and now there’s new opportunities. Spend $500 or $1,000 to go to conferences. It’s a no-brainer. You just have to think longer term.
- 34:26 Matt: I think it’s hard in the beginning because you’re just starting out. I’ve been there. In the beginning, when I bought my first course, all on paper, it took a lot out of me. I believe it was $500, and for me, that was a big deal. I really struggled with it, but my mentor said, “You have to do it. Otherwise, you’re not going to learn things that you need to get to the next level.” I did it, and that really helped me. I’ve also been hearing a lot of podcasters talk about Mastermind groups and coaching. I’ve never done coaching, but my mentors are technically my coaches. If you don’t have a mentor, look into getting some coaching.
- 35:24 Again, it’s an investment. It’s not free, especially if it’s someone doing what you want to do. You’re going to have to pay a pretty big price. Don’t look at the number. Think about it as you having access to their library of information. You can’t walk into a library and start asking somebody a question. Coaches and Mastermind groups are awesome, because you’re talking to other like-minded people that are probably doing better than you. If they are, that’s awesome. You have access to their brain. It’s the same thing with coaching. You get to ask them questions, and they get to roast you and tell you that you’re doing a crap job and need to pick it up. That’s good for most of us.
It’s powerful to get someone who’s very knowledgable in the thing you want to learn to coach you.
- 36:17 Sean: As long as you pay them whatever they’re asking, money’s out of the picture for them. They don’t care about money. Matt and I know that our knowledge and help, consulting, can help people. It can make a real difference in the bottom line dollar. We have to hold back, because we can’t go to every single person and spend the rest of the day investing in their business. We don’t have time for that, so we have to hold back. Once people pay for that, we remove the filter, open the faucet, and now we’re not thinking about money. Now, our sole focus and goal is to grow your business. Getting someone like that is huge.
- 37:22 Matt: Think about having someone there that you could call, text, or Skype. I Skype my mentors all the time. I’ll say, “I’m in the middle of this. I’ve got this inspector guy treating me like crap because I’m like ten years old. What should my response be?” These are all very successful businessmen, most of them millionaires. One of them is a billionaire. They’re not going to tell me, “Just blow him off,” or, “Just send the doubler.” They’re going to break down the whole thing for me and create a script they’ll email to me. Do you know how much that would have cost if he had charged me? These guys charge per minute. It’s priceless to me.
- 38:08 I’m going to get that and execute on it, and most of the time, I’m going to get a return on it. If I don’t get an instant return, this is something I love about knowledge, it’s always there with you. You can use it at a later time. Like Sean was saying about the webinars, that’s something I really want to learn about. I also want to learn video editing, just a little bit, because I want to hire a video editor. I want to purchase a course. Vicky, my assistant, wanted to put together some free stuff for me to watch, but I said, “What are you talking about? Do you know how much time and money you and I are going to lose because you’re putting time into that? Let’s buy a course.”
- 38:55 Vicky and I are going to be experts. We’re going to be able to take over the world and video edit everybody by spending a little bit of money, as opposed to searching all over. We already know how to make money. Now, we need to just accelerate that with other extra content.
- 39:14 Sean: There’s so much value here for the smart people who are listening, if they listen between the lines. We’re talking right now to people who are on the fence about investing in themselves. They’re just going to freeload on things, and I say to start out that way, but then wise up.
Don’t use free content forever, because you’re losing money by doing that.
- 39:42 Matt: Just buy a book. They have half priced books now.
- 39:48 Sean: We said books, courses, and conferences, and then Aaron, the Podcast Dude, added podcasts. I think that’s great, because podcasts are the free version of books. They’re a little bit less condensed, a little bit longer, because it’s on the fly recording, but it’s free. You might have to wade through a little bit more, but you still get good knowledge. There’s great free stuff, but eventually use paid things. We’ve been talking to the people on the fence saying, “Hey, you need to invest in yourself,” but there’s stuff here for the people who are thinking about making online courses.
What is it Worth?
- 40:28 These are the people who are good at something, and they could condense their knowledge and their skill into some kind of curriculum or course. If you listen to how Matt is talking right now, Matt is saying, “We don’t have time.” You don’t want Vicky to go spend her time that you’re paying her for putting together free, inefficient materials for you, to then waste more time wading through to find the good things. It’s wasting money all over the place. The course becomes a no-brainer for you, because you save time, and your time is worth money. The course creator has to understand this.
- 41:10 Stop trying to reach the people who are on the fence or who aren’t convinced. People make this mistake. They think, “No one’s going to buy a course. I should probably charge $49, but I know my friend wouldn’t pay $49. Maybe I should do $29.” No, you’re in the wrong market here. You’re on the wrong end of things. You should be charging $299, $499, or $999. You need to reach the people who value this material, for whom it will create massive value because their time is saved. They’ll turn around and get 18X return on your course.
- 41:47 Matt: One of the things I’ve learned over the years is that if I can’t afford the course at one time, that used to frustrate me, but it eventually turns into a challenge. I always mention Monopoly because it seems like that’s what I’m playing in my life. It seems like I’m always landing on someone else’s property and I have to pay up. I’ve learned that if a course is out of my reach, I’ll figure out a way to come up with the extra money I need to buy this course. I know that once I save it, whatever money I’ve just invested is going to come back as so much more. Think of it as a challenge to yourself.
- 42:43 Aaron Dowd was saying, “Save $2.85 a day,” and it comes up with a thousand something. Come up with a little challenge for yourself. “Okay, I want to buy this course because I need it. I don’t need to waste time filtering through free stuff. Let’s work on what’s working right now and make the most money with this, that I know, and save the money I need to take this course to get where I really want to be.” Take it as a challenge. Don’t get pissed off and think, “These guys are charging $1,000!” If someone was paying you to look up all those resources, how much would that person spend on you to put all this stuff together?
Don’t Go Into Debt for Your Investment
- 43:40 Sean: Scotti says, “I know you have a no-debt mentality. Do you recommend soaking up the free content and learning from that so your money can buy time instead of going into debt investing in yourself when your return can pay it off in the near future?” I said, “Yes.” I don’t want anyone to go into debt for seanwes conference or for any of my courses. I refuse to do payment plans. I’m leaving a ton of money on the table—I know how much revenue would go up, probably 20% and maybe more.
- 44:25 Matt: I don’t understand why people don’t just save a certain amount.
You know something expensive is coming up, so start saving now and you’ll be able to afford it.
- 44:35 Sean: I know I could make more money on my courses if I did payment plans, because there’s people who can’t afford it. I’m leaving money on the table. I told people, “I don’t want you to go into debt for seanwes conference. Save for seanwes conference 2017. I don’t want your money, I want you out of debt.” I legitimatley mean that. I don’t want you to buy my courses. It’s full price or free, everything I put out there, and there’s tons of value in the free stuff. This is my gift to you. Use it, create some money from it, create some value in the world, and come back and compensate me for it later. That’s fine. I don’t want you to go into debt or live outside your means.
- 45:23 I don’t want to enable that with payment plans. My courses are for people for whom it’s not going to break the bank. Yeah, it may be an investment. It might hurt a little bit. Sometimes, investments do hurt, but I don’t want it to break the bank for someone. That’s important. If someone has to do a payment plan, I say, “Don’t do it right now. Go apply the free material, save up money, and wait.” I would rather my customers be out of debt—I don’t want them in Scarcity Mindset. That’s not the point of my paid material. It’s point is to accelerate what’s already good. If you’re to the point where you’ve applied all this stuff and you’re doing great, your business is going, you’re making good money, you’re not in Scarcity Mindset, so take that $1,000 and turn it into $18,000. Don’t take your negative $1,000 and go to negative $2,000 spending it on something you can’t afford.
- 46:26 Matt: I’ve seen so many people do that. I always feel bad for them, because they think that somewhere down the road they’re going to make that money back, but there is no guarantee in anything in life. No matter how good the course is, it all comes down to you. Like Sean said, don’t put yourself in that Scarcity Mindset. It messes with the way you’re going to make decisions. You’re going to make quick little mistakes all the time because you’re thinking out of fear. Think of it as a challenge. Don’t get frustrated and think, “Poor me.” There is no poor you. We could tell stories all day about how we used to be poor people.
Challenge yourself to be better.
- 47:22 If you have chosen to be an entrepreneur and do what we are trying to talk about here, it’s a small and thin road. It’s not easy. You’re going to get called out by people, your family is going to tell you you’re a loser. Especially at our age, you’re never going to get anywhere if you listen to your peers. You can’t give up. I was just telling my brother that everyone loves to tell people they’re an entrepreneur, and they carry it around like it’s a title. I’ve learned that being an entrepreneur isn’t a title—it’s a lifestyle. If you’re in this, you’re all in, for 12 to 20 hours a day. When you start your entrepreneurial career, it’s hard.
Support the Source
- 49:20 Sean: When you pay for things, it’s helping the creators—the people you get the free content from—continue to do what they do. It’s the only way they’re able to continue, if you’re supporting them. You can’t say you enjoy their content and you hope they’re able to continue doing it if you’re not contributing. What do you think about this point, Matt?
- 49:45 Matt: You heard the example of my assistant and me looking into the video editing stuff. Think about it—if I worked for you, the listener, and my rate is $1,000 an hour. That’s not cheap. I don’t know anything about video editing at all, so for me to put together all the stuff I’m going to need into a package, it’s going to take me a few days, if not a week, because I’m pretty good at research. What if I wasn’t? What if it took me a whole month? Do you know how much money the person paying me would be out? That’s stupid money for something I could spend $500 or $1,000 on for a course to get all that information and start learning it.
- 50:45 That’s what I was saying. Don’t think of it as someone rating you for something that only took a few hours, because you don’t know the hustle that person had to go through to get that course nice and polished for you. Take Sean as an example. When he was putting together one if his courses, he was hustling one hour prior to launch. It’s not like you’re paying for someone to get a text file and put some stuff together with a nice picture and then say, “Okay, guys, $497, buy here.” They spent months or years to plan it.
- 51:29 Think of it as a shortcut. You’re paying for something that’s going to make it that much shorter of a learning curve. Don’t think of supporting the creators as making them rich, think of it as you being appreciative that this person took the time to put all this information together. You get all this information put together for you, and you don’t have to run around and figure out how to do things. Always reward that person.
Don’t be a freeloader when you get to the point where you need to move to the next level.
Paying Makes Sure You Take Action
- 52:27 Sean: How many of you listen to podcast after podcast after podcast and YouTube video after YouTube video and never put any of this into action? You’re hearing all this, and it’s like you’re watching a Netflix TV show. “I’m going to watch the Lambo Goal show where the two guys work really hard and buy the lambos.” It’s just a game for you. This is a lifestyle for us, this is what we do. For some reason, we stop the hustle to talk on some microphones but this is a part of what we do. If you get in this passive consumption mode and you don’t apply, this can be like entertainment for you.
- 53:11 When you pay for something, you’ve got skin in the game. You’re going to pay attention, you’re going to take notes, and you’re going to apply this stuff. If you, as a course creator, aren’t charging for things, you’re doing people a disservice, because you’re making it less likely that they’ll take action on it.
By charging for what you’ve made, you make sure that people are invested.
- 53:36 If you get free eBooks, pdfs, or whatever, you might save it. You might get to it, although you probably don’t. The things you buy have a much higher likelihood of actually getting put into action.
- 53:47 Matt: We always use the excuse, “I don’t have time.” You buy something that’s going to hurt a little bit, and you’re going to make time. I’ve bought courses where I don’t have time to read over them or listen to the videos, so I wake up a little extra early, go to my massage chair, lay back, and watch the video on the ceiling. You make time.
Paid Things Often Truly Are Better
- 54:59 Sean: You might believe that the free stuff is just as good. That’s not always the case. People don’t care as much about the free stuff. When you’re producing a paid course, the people who are charging decent amounts invest a ton. I’ve spent money on software, business, and using different tools. I could have spent a week learning software. I got this course called Learn Scrivener Fast, and Scrivener is a writing app for writing things like books. You have all these different views, like a cork board view, list view, chapters, folders, research, and it’s all in one app. Imagine if you were just using the text notes app to write a book.
- 55:53 It’s really hard. Scrivener is really great for writing books or long form things like courses and email auto responders. The app, because it does so much, is very complicated. How do you know this little icon here means split the window, and how do you know that holding down the option key means you can split it horizontally instead of vertically? All these things save time and are great. I could have spent a week or weeks just learning all of this, defeating the purpose, which is that I need to write more. I got this course and spent two hours watching it, and I immediately got my money back.
- 56:52 I knew everything I needed to do and I was like a pro at this app in no time, because it was all condensed down. You can’t find that kind of quality on YouTube, that kind of condensed material that takes so much effort.
Paid material really is almost always better than what you can find for free.
- 57:22 Matt: One thing I had to come to terms with because I was thinking, “Why are people charging so much?” was that it really helps the creator of the course, the person who has all these gold nuggets locked up in their brain and is willing to give them to you. When you have focus to put together something, the quality is going to be so much higher. If I was putting together something I know nothing about, think about how low my quality is going to be compared to somebody that knows what I’m trying to put together. He already knows and is going to put it together in the order I need. By paying these guys their fee, you’re allowing them to fully put their time into creating this course so you don’t have to.
- 58:29 It’s this high quality, polished, nothing but gold nuggets all packaged together for you. Two hours later, you’re ready to rock and roll and get ten times your money back. People complain and say, “Oh, they’re promoting a course again,” but why don’t you put the time in to make that course? Think about how much time and money it would take for you to make that course.
- 59:59 Sean: My first course took me six months. I had to work really, really hard to save up the money to spend all of my time producing a course. It’s years of knowledge, tons of planning, and then the execution. It’s big.
- 59:27 Matt: Putting together this stuff isn’t free. Sean knows better than I do—putting together a course costs money. There are things you have to have to make this happen. Think about these things when you’re looking at a really good course. Don’t look at the price and cringe at the person—they have costs, too. There’s a lot of costs. Pay it forward and it will come right back to you.
- 1:00:06 Sean: We’ve been talking about courses, but the theme of this episode is Invest in Yourself, and that can look like anything. A way of investing in ourselves, Matt, was flying out to San Fransisco. That cost us thousands of dollars, but we got to meet with people. This topic, this show, came from discussions there. We were energized, we got to meet with great people, and we got ideas. Meetups are really great, and we created a great event for other people to come to. They didn’t have to pay. With seanwes conference, we take those meetup experiences to the next level.
- 1:00:47 We’ve done meetups in San Fransisco, Dallas, New York, and different places, but the conference takes that experience to the next level, and that is an investment. That is something you have to pay for, but you have to think about the people you’re getting around. I like to invest in conferences because the speakers are great, but what I really get out of it is getting around the people who think differently, who think bigger, who are farther ahead of me, and getting some insight from them. When Matt and I flew to San Fransisco, we were in low-key relaxed mode.
- 1:01:27 If some guy on the plane said, “Hey, you guys talk about business?” we would have said, “Yeah, what’s your business?” We basically start consulting with him for free because we’re off our guard. We’re not on business mode, we’re in chill mode. If you go to the conference, everyone loves this stuff. They’re all in chill mode, so you’re basically getting free consulting. “Oh, what do you do?” This happened at a conference I spoke at in August. This lady heard me speak and said, “Hey, thank you so much, this affected me hugely. It had such a great impact on me, thank you.” That was it, she just wanted to say thank you and she was going to let me go.
- 1:02:13 I sat down and said, “What do you do?” I started talking to her, and I came to find out that she runs this thing called Trade Show Camp or something. She does webinars, workshops, and courses, and she has a community. She’s done a lot of this stuff and she’s very knowledgable. She started talking about her business and she said, “I’ve got this Facebook community, and I’ve been giving that for free to people, but I was thinking about going a membership route, because now we’ve got all these people for free taking all our resources. It’s not sustainable. I want to give it over to something, but I figured I would keep it up…”
- 1:03:02 I said, “No, no, no. Here’s what you do. You shut it down, but you give all of the existing people a loyalty coupon. Reward their loyalty because they bought a course in the beginning, and now they’re in this Facebook group, so make a better experience for them. Upgrade their experience and thank them for being so loyal.”
- 1:03:25 Matt: At this conference for this lady, you gave her a free consultation.
- 1:03:32 Sean: I’m explaining all of this, and I say, “You set up the new thing, close down the old one, and reward the loyalty with a coupon, that way people are thinking, ‘Wow, thank you!’ Because of the Rule of Reciprocity, they come over and start a new subscription. You start fresh with members, paying people, and your system’s good to go. You’re not running simultaneously.” All the good things! We spent 20 or 30 minutes, and she got so much value out of this that the next day, the second day of the conference, she said, “Thanks so much for the conversation. I just signed up for your community.” How cool was that? I thought, “That was worth the $39 to her,” so she signed up the next day.
- 1:04:10 She had actually signed up for a year, $390, because that was worth it to her. She’s running a business where she’s making thousands or tens of thousands, so that has a big impact. Guess what? seanwes conference roles around and I’m thinking about speakers. Guess who I invited? Katy Hunt, the person I consulted, and now she’s speaking at seanwes conference. This is what happens when you go to conferences. What is the value of that? We’re paying for her flights, getting her a hotel, and giving her a speaker payment on top of that. She’s getting exposure to tons of people who are perfect candidates. There is so much benefit, Matt.
- 1:04:50 Matt: People are there in chill mode. They’re there to network, to chat with you, so you can butt into a group and start talking, and you never know, you might find someone who does something similar and you hit it off. It’s who you know. Once you build up a whole network of people, the power you have is incredible by having this network of knowledgable and ultimately powerful people. Meeting people and getting out of your comfort zone is so valuable, and conferences are hard for everyone. They used to be hard for me. I’m kind of a shy guy, but I’ve gained this confidence by getting in there and getting out of my comfort zone.
What is the value of the right piece of advice at the right time or a new relationship formed?
- 1:06:24 Sean: That’s my pitch to you. We would love to have you at seanwes conference. Invest in yourself, it’s going to be the best thing you do for the entire year. It’s going to be an incredible event. Go sign up! Early bird tickets are available, and they won’t be forever. Eventually, we’re going to say, “Go sign up!” and we’re not going to say early bird anymore, and you’ll realize that you missed out. The last retreat I did, I went up to Boise Idaho and spent $1,500 or so getting there, and since then, which was in September, I have made an extra five figures just from the advice I got there. It’s a different way of thinking.
- 1:07:22 Matt: I understand that it might sound a little weird, what we’re saying. Once you start doing it and you start learning, you realize that this is unreal. Meeting people and learning knowledge faster than trying to get it for free can change your life.