(triumph music)
So here's the question you have to ask yourself,
every single day.
How do I protect.
What's the word?
Protect.
My time, energy, and money so I'm only spending them
on those things that will take me closer to my goals?
In fact, repeat after me.
How do I protect my time.
- [Crowd] How do I protect my time.
Energy, and money.
- [Crowd] Energy, and money.
So I'm only spending.
- [Crowd] So I'm only spending.
Them on those things.
- [Crowd] Them on those things.
That will take me closer.
- [Crowd] That will take me closer.
To my goals.
- [Crowd] To my goals.
To your goals.
You gotta protect it.
Because, if you don't protect your time,
and give your time so free, so freely,
to anybody that wants it, what's gonna happen?
What's gonna happen?
- [Student] You're gonna run out of time.
You run out of time, but here's the thing.
If you don't value your time, knowledge, and energy,
why would you expect anybody else to?
- [Student] Yeah, that's right.
And, some of you are not comfortable,
I know, asking for money.
You are not comfortable.
How many of you are not comfortable asking for money?
Really, be honest.
People want your time?
I'll just give them my time.
You're not comfortable.
Why aren't you comfortable asking for money?
Hm?
- [Student] You don't value what you give.
No, but why are you not comfortable asking for money?
- [Student] You don't value yourself.
Yes.
- [Student] That's what I said.
Same.
Self esteem, you don't value yourself.
You don't value yourself enough, to charge for it.
Yes.
- [Student] What strategy did you use to determine
the right price?
What's the budget?
(laughs)
And, I'm serious.
So, people sometimes talk about price.
How much do you charge?
I would say charge as much as you could,
as long as the market plays.
They're willing to pay the price.
Because, you're charging more money, not just for you.
You're charging more money for them.
Do you know why?
- [Student] They'll value it more?
They value it more.
- [Student] You can get a better job done on it.
You can get a better job, yes.
Cuz you can have more money, you can do a better job,
you can add more value, yes.
But what else?
This is a big point.
You're not charging more money for you.
You're charging more money for them.
- [Student] There's more skin in the game.
More skin in the game.
- [Student] They're investing in themselves.
They're investing in themselves.
So, knowing that, when you charge more money,
they take you more seriously,
and they are more likely to get better results.
To get better results, they become better clients,
as they become better clients,
they more likely refer other clients.
Does that make sense? Yes? - [Students] Yes.
So you want to charge as much money,
as long as the marketplace will pay.
I don't care, people say oh you know I gotta kinda look
at what competitor is charging, kina average.
Fuck that shit.
Okay.
Charge, it's a sales, it's all perception.
If you can build the value, I can charge twice as much
as what my competitor charge.
I don't care what they charge, it has nothing to do with me.
Nothing to do with me at all.
It's what you can do.
Does that make sense?
So, charge as much as.
Go back to question, how much budget do you have?
And, you want to get as much money as you can.
Not because you're greedy,
it's because you're fucking generous.
I know this sounds, I don't get it.
It's counterintuitive.
I'm serious.
Get as much money as you could.
So then, more than likely, they get better results.
Not saying, guaranteeing results.
But, they're more likely to get results.
I know for a fact, if someone pays me X for my time,
if they pay two times X, or three times X,
they're taken more seriously and they get better results.
I know that for a fact.
Because, now everything is on the line.
When I wrote a check to my mentor to pay him for coaching,
for one year.
$100,000.
That freaked me out.
$100,000.
How many think 100 grand is a lot of money?
Yeah.
But also, I got results.
If I would've gotten the same mentoring for 10 grand,
would I have gotten the same results?
I don't think so.
'cause I didn't notice 10 grand.
I lose 10 grand, I lose 10 grand.
100 grand.
Holy shit.
I gotta make this work, baby.
Right?
Where's the value?
I'll do whatever the hell it takes to make it work.
How many follow what I'm saying?
Yes?
- [Students] Yes.
Think about that.
So how much your time is worth?
Now if you don't know what your time is worth,
and what it needs to be worth,
then you can't make effective decisions on what activities,
you should be spending your time on,
and what activities you should have others do for you.
So, let's calculate how much your time is worth.
So here's an exercise, and do it on your own.
I'll give you a minute to do that.
What's the amount of money you want to make this year?
So write that down for now.
What is the amount of money you want to make, this year?
Just write down the figure.
Let's say if you want to make a million bucks a year, okay.
A million dollars a year.
Let's pretend you work 220 days, and eight hours a day.
That's 1760 hours a year.
One million divided by 1760 hours a year equals $585.18.
So whatever the number is.
So write down your number, could be half million,
could be one million, whatever the number is,
ten million, doesn't matter.
Divide it up by 1760 hours,
and have a figure, on your notepad.
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(triumph music)