533. How to Turn Listeners Into Paying Clients

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Ralph Estep Jr.: Well, good

morning, podcasters.

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Today is Monday, June the ninth,
2026 and
today we're talking

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00:00:10,122 --> 00:00:13,932
about getting paid to speak and
consult, because your podcast

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is already doing the work.
It's
time to start charging

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00:00:16,986 --> 00:00:19,038
for it.
So, if you're listening live on

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00:00:19,038 --> 00:00:21,720
Clubhouse, do me a favor, hit
the share button, top right hand

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00:00:21,720 --> 00:00:23,958

side of the screen, and share
however Clubhouse lets you.

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If
you want to join us live on
the video, you can go to

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00:00:28,251 --> 00:00:30,007
Podcasting
Morning
show.com/join us.

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And if you're catching us via
podcast,
YouTube, LinkedIn, or

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any of those platforms, please
share
this episode with a

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Pello podcaster.
Now, give us about 30
seconds,

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and we'll get things going.
You so much for being
here

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today.
Audio Clip: The podcasting


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morning show is powered by
IronicK Media, helping


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podcasters launch, polish, and
grow great shows, and by Content

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Creators Accountant, helping
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behind their content.
Ralph Estep Jr.: Well, good


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morning again, and welcome to
the podcasting morning show.


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Thank you so much for being here
today.

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I'm your host today,
Ralph
Estep, filling in for Mark

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Ronick.
Now, Mark is spending a
week

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volunteering at a charity camp.
We talked about that


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organization a couple weeks ago,
so let's all wish him goodwill


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as he's doing that.
Now, joining me on stage, let's

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see, I've got
BC Babbles, I've
got DR. Fay, and I have to be

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honest with
you, I'm working
from a hotel room here in Texas

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City.
So,
let's see who else I've

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got.
It looks like that's it.

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And then
joining us from the
audience, we've got Nikki, aka

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Tide
Tutoring, Tim, and Gabe.
So, thank you everybody for

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joining
us today on this
intrepid adventure as we talk

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about how
to make money with
your show, really, and your

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consulting work
you're already
doing.

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Now, before we get into that,
let's
talk about this.

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Let's talk about our Spotlight
series.

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So,
if you'd like to have your
show featured on our show, the


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easiest way to do that is if you
go to Podcasting Morning


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show.com/spotlight and you'll
follow the directions there.


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It's a Google form, you fill
that out, and you just tell us


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about your show. 60 seconds, and
guess what, we'll feature it on

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our show, so you'll get a lot
of people with their eyes on

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your
show.
You can do it either audio or

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video.
So, let's get right
into

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today's topic.
And I'm going to start off by

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saying
this: Has anyone ever
answered a DM from a listener

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asking for
advice in your
niche now.

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Maybe that was a coffee chat, a
group
thread where you ended

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up being the expert, or could
even have
been a clubhouse

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room where someone asked you a
question and
you just answered

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it for free.
Well, guess what, that was


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consulting.
And today we're talking about

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what it looks like
to charge
for it.

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Now, before we get into today's
topic, I want
to have a quick

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warm up, and that is this.
I want you to
raise your hand

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if you want to jump in.
I'll bring you up on
stage, or

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one of the moderators can bring
you up on stage, as I
try to

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drive this crazy bus with three
wheels.

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So, here's what I
want you to
do.

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I want to drop your answer in
the chat.

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You can
react, or if you
argue, if you want to.

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But here's my question
for
you.

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This, and today's winning
question is this: What
or

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where are you in your podcasting
journey right now?

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I
would just like to know,
where you are.

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Are you still thinking
about
starting?

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Are you a new podcaster under
your year in?


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Are you an active host grinding
it out?

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Are you making some
money from
your show, or maybe you're like

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a lot of us, trying
to figure
out how to make money from the

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show.
What I'd like you
to do is go

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ahead and drop that right in the
chat, and then we
can have a

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discussion about that.
If you're joining us on
video,

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BC and I are on the live stream,
so if you want to drop
into

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the chat where you are in your
journey, I would love to
see

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where that is.
Let's see what we've got here.

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So, it
looks like BC is seven
years in the venture, Knikki is

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starting
in November.
Started in November 2025 Good

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morning, Janae.
Gabe
says I'm an active host,

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grinding it out, still figuring
out how to make money.

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Yeah, you and a lot of folks,
Gabe, that
is a very common

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situation that a lot of people
find themselves
in.

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That is no joke.
Alrighty, so let's go ahead and

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all right,
Tim, all right, Tim
says since 2006 made bad

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podcasts for 10
years, got
serious 10 years ago, great, and

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I see DR. is going to
keep
joining us on Clubhouse, which

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is totally fine, DR. No

problem, all right, so let's get

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to the topic for today, you

know, this is a Money Monday,

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and I want to talk about

something that is affecting a

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lot of folks, and that is, how

do we get to the point where we

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start making money, and I really

believe the first part of this

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is a mindset shift.
It's the one
that changes

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everything.
As I said at the beginning, most

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podcasters are already
performing consulting behaviors,

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they're just not getting paid
for.

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So let me ask, let me ask
the
room this, and feel free to jump

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up.
Well, if you want to
talk, if

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you want to join us on stage,
just put a one in the
chat, if

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that would be great, so I can
keep an eye on that.

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But
let me ask this question:
How many of you answered a DM

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from a
listener asking for
advice in your niche?

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Have you been pulled
into a
Facebook group or forum as the

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go-to expert?
Has anyone
invited you to

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speak, guest, present, and you
did it for
free.

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So, let's talk about that
question.

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BC, I'm gonna go ahead
and go
to you.

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BC Babbles: So, yeah, I had an

interesting situation a few

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years back.
This was 2022 It
wasn't

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through a DM, wasn't through a
Facebook chat.

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I got
an email from a rep from
a company saying that her

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company,
or at least her
board, was looking to launch

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their own
show, and had found
me somewhere, knowing that I was

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my
own host and producer.
Wanted to see if I can consult

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them on
launching a show, and
she asked me to give some

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tidbits on what
I could
consult on, and I made the

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mistake in that moment,

replying and giving her what I

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realized was too much premium

information, because then I was

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ghosted from this conversation,
never heard back, never heard

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like any kind of follow up, and
by premium comfort, premium

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information I mean that I gave

too much actual, actual

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actionable points on how they

should set it up, and yeah, I

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learned real quickly to always

be more of a kind of a bait and

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switch, at the very best, and be

careful how much you give too

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early, so that you don't miss

out on being cow considered for

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your specialization.
Ralph Estep Jr.: No, and I think

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that's a very good point, and
that's what a lot of people


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don't realize, is you're
actually doing consulting work


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with that, and what you're
doing, a lot of people charge


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money for anywhere from $100 to
$300 an hour.

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And here's the
thing, I want
to say about this, and please,

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if anybody else
would like to
comment, be happy to.

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It looks like Junaid, let me

bring you up on stage, my

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friend.
If you want to comment,
go

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ahead, Junaid, do you want to
make a comment about what we're

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talking about right now?
That'd be great.

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Junaid: Absolutely, and I've

been in that boat to BC, right?

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When you give away the

information, they're like, oh,

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cool, that's all I needed.
And
then they go and buy the

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thing to do the thing.
And here's
where I think that

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it's okay, because there's
people that are
on different

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paths of the journey.
Some people are brand
new at

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it, and they don't necessarily
like, if you don't
give them

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the information, they're gonna
find it elsewhere
anyway, so

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why not?
It'd be you, your benefits for

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free, because
in the long run
they're gonna come back and

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look, you know
what, BC told
me this something, and it's

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actually working for
me.
I'm gonna send more people over,

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so I think it's totally
fine
when we give away these free

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valuable information,
because
in the long run you are the

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industry expert that they

refer people to, Ralph Estep

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Jr.: thank you,
Junaid.
I think that's a very good

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point.
And, Tide, I know
you want to

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make a comment, so go ahead,
Tide.

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Knikki: I was just going to say
that the conversation on this

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topic is really interesting,

because when I, before I started

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podcasting, because I started in

November, years prior to that,

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you know, people were putting

out content, they had their own

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YouTube channels, and every now
and then, in the education

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space, I would get someone who

messaged and said, "Hey, will

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you come on my show and talk

about this or that?

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And I used to think that
building clout and
building a

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reputation online was like the
most important thing,
and I

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still think that it's still very
powerful.

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The reason
why I say that is
because when someone says, "Hey,

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Knikki, I
want you to tutor my
child.

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A lot of times, these people
don't
know who I am.

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I'll get messages online, and
the first thing that
they're

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going to do is they're going to
YouTube me, they're
going to

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Google, they're going to do
their research, they're
going

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to vet, because they're going to
say to themselves,
"Well, I

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have to, if I'm going to, you
know, allow this person
to be

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working with my child an hour or
two a week, I need to
know who

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they are, and I think that was a
great thing that
Junaid just

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shared about, like, how you're
you're helping
people, you're

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building that positive
reputation, you're
putting

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that good energy, that good
karma out there to help
other

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people grow what they want,
instead of being all tight
and

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stingy about your expertise.
I do think there's a definite


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time and a place for that, but
there's also a time and a place

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to be smart about your
consulting, and I can always


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tell when somebody is trying to
get a freebie and they're not,


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they're not the type of person
that's going to actually come


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back and bring me good energy,
because what they're doing is


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they're not being sincere from
the start, and when I can tell


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that somebody's not being
sincere, it usually looks like,

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hey, can I, can I pick your
brain, hey, can I, can I just


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have 15 minutes of your time,
you know, those kinds of things,

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and then that's when I know,
like, nope, I'm gonna, I'm gonna

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charge, and in that particular
case, it wards off a lot of


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those people that would have
otherwise been an energy suck or

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a time suck for you.
Ralph Estep Jr.: No, I agree


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with that, and I think that's a
very good point, and the thing I

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wanted to mention now is the
thing everyone needs to


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understand is your podcast
itself validates your expertise,

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it's this living credential
that you know for a lot of

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people
they publish weekly,
it's a living credential that

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updates
every single week, so
I wanted to say this morning,

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you know,
the barrier is in
skill.

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Soul, I really think the barrier
to most
of what we're talking

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about today is the mental shift
from
creator to professional.

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I think that's where a lot of
people
really struggle with

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this, and I'm going to say, you
know, from
my seat as an

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accountant, the moment a client
starts charging
for their

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knowledge, everything changes,
they stop being a
hobbyist and

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they become a business, and we
want to be
ready for that

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before the first dollar comes
in.

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00:10:24,102 --> 00:10:27,219
So, let's get
specific, and
let's get into our next

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discussion.
What does this
actually look

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00:10:29,253 --> 00:10:30,950
like?
I think there's a lot of

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different ways
that you can do
this.

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There's keynotes and panels
speaking at
industry events

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and conferences and
associations.

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Oh, I'm sorry,
DR. Go ahead.
I apologize, I didn't see you

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00:10:40,146 --> 00:10:41,760
wanted to share.

DR, go ahead, then I'll get back

215
00:10:41,760 --> 00:10:43,230
on the plane where I was going

to go.

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00:10:43,750 --> 00:10:47,860
DR: That's okay.
I, you know, I
have a problem

217
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with setting up my boundaries,
and when you are,
when you

218
00:10:52,690 --> 00:10:57,912
come into an, like, a new space
for the first time,
and I'm

219
00:10:57,912 --> 00:11:01,761
talking about me, what, six
years ago, I am constantly
in

220
00:11:01,761 --> 00:11:04,822
that I want to prove it to you
kind of mode.

221
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I want to
prove it to you.
I can do it.

222
00:11:06,780 --> 00:11:07,737
Yeah, let me answer this

question.

223
00:11:07,737 --> 00:11:10,330
I can do it.
I want to prove it to you, and

224
00:11:10,330 --> 00:11:13,710
it's hard
to let go of that.
Do you know what I'm saying?

225
00:11:14,420 --> 00:11:15,740
Ralph Estep Jr.: No, I think

that's a really good point, and

226
00:11:15,740 --> 00:11:17,766
I think that's what a lot of

people struggle with.

227
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I deal with a lot of small
business
people, DR. And

228
00:11:19,790 --> 00:11:22,576
that's the hardest point is, how
do you
pivot, and that's why

229
00:11:22,576 --> 00:11:25,428
I'm saying I think it's this
mindset shift,
because I think

230
00:11:25,428 --> 00:11:28,910
we all have a general desire to
help people,
that's why we do

231
00:11:28,910 --> 00:11:31,883
what we do, and then how do you
get to the point
where, like

232
00:11:31,883 --> 00:11:33,818
Knikki said, you're just going
to pick my brain,
I've dealt

233
00:11:33,818 --> 00:11:36,973
with this in my own practice, I
do these 15 minute
discovery

234
00:11:36,973 --> 00:11:40,237
calls, and I've had to say to
myself, hey, you know
what, I

235
00:11:40,237 --> 00:11:42,993
had five or seven minutes into
this, this is
beyond a

236
00:11:42,993 --> 00:11:45,254
discovery call.
This is this person is asking me

237
00:11:45,254 --> 00:11:48,135
how to
do my trade, and that's
when I have to say, "Okay, you

238
00:11:48,135 --> 00:11:49,732
know
what?
I can talk to you about that.

239
00:11:49,732 --> 00:11:52,593
That's what I do.
Here's
the results I can get.

240
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But at some point, it has to be
a
paying event, and I know

241
00:11:56,904 --> 00:11:58,575
that.
And, DR, you can probably speak

242
00:11:58,575 --> 00:12:01,007
to this, because actually, DR,
if you don't mind me saying, DR.

243
00:12:01,007 --> 00:12:02,576

had a very conversation and
went like this.

244
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Remember that, DR. DR: Yeah, I
do.

245
00:12:05,252 --> 00:12:06,834
Yeah, Ralph Estep Jr.: but
that's
exactly what you're

246
00:12:06,834 --> 00:12:08,554
talking about, right?
I mean, am I
missing the

247
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point?
DR: Yeah, no, no, you're not


248
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missing the point.
But then again, we're always

249
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trying to
get on podcasts for
more visibility, and when we're

250
00:12:17,790 --> 00:12:22,905
on
podcasts, we have to give
value to the audience, so you

251
00:12:22,905 --> 00:12:25,625
know
it's a tough line that we
have to ride.

252
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Ralph Estep Jr.: No, I

absolutely agree with you.

253
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I think it's a difficult thing,
and that's where you get into

254
00:12:30,665 --> 00:12:31,725
this discussion.
Know what?

255
00:12:31,725 --> 00:12:34,540
At
what point, like I'm like I
was talking about a minute ago,

256
00:12:34,540 --> 00:12:36,344
and
I didn't mean to give you
no time to do..

257
00:12:36,344 --> 00:12:38,435
I apologize.
This
is where you get on these

258
00:12:38,435 --> 00:12:41,795
keynotes and panel speaking at

industry events, conferences,

259
00:12:41,795 --> 00:12:46,055
associations, you know, at some
point you maybe you start

260
00:12:46,100 --> 00:12:48,890
charging for that stuff, you

know, you're giving your gold,

261
00:12:48,890 --> 00:12:52,130
you're giving your information

that you've worked a long time

262
00:12:52,130 --> 00:12:55,100
to get to, you know, a lot of

things, a lot of people, and I

263
00:12:55,100 --> 00:12:57,680
want to read something, we're

programmed that way, and the

264
00:12:57,680 --> 00:13:01,760
reality that you live will never

exceed what you feel about

265
00:13:01,760 --> 00:13:04,610
yourself, you'll always be

proving and hustling, because

266
00:13:04,610 --> 00:13:07,040
that's all you think you're

worthy of, no matter how much

267
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visibility you have.
And I think
you're absolutely

268
00:13:10,101 --> 00:13:13,634
right, Knikki, and that is this
is a mindset
shift we're

269
00:13:13,634 --> 00:13:15,947
talking about.
If you're offering value, and I

270
00:13:15,947 --> 00:13:19,433
agree with you, DR. It's tough.
It's tough to balance what is


271
00:13:19,441 --> 00:13:22,040
the difference between we're
giving value to make ourselves


272
00:13:22,048 --> 00:13:24,483
to get ourselves out.
I'm working with my publicist

273
00:13:24,483 --> 00:13:28,223
right
now in this very regard.
How much of yourself do you give

274
00:13:28,223 --> 00:13:31,950

away to get yourself known,
and at some point then you're


275
00:13:31,958 --> 00:13:34,675
actually giving away property,
and this is really difficult.


276
00:13:34,683 --> 00:13:37,895
And I like what Jessica put in
here: intellectual and creative

277
00:13:37,895 --> 00:13:41,260
property, that's the thing.
If you were selling a widget,


278
00:13:41,268 --> 00:13:43,946
everybody would say, okay,
you're delivering me a widget,


279
00:13:43,954 --> 00:13:46,935
but we're opening up our brains
and we're sharing intellectual


280
00:13:46,943 --> 00:13:51,200
property, and that's where it
becomes so sticky and difficult.

281
00:13:51,340 --> 00:13:56,515
DR: I just don't see me charging

a host of a podcast for me to

282
00:13:56,515 --> 00:14:00,972
be on that show.
I think it feels
more of an

283
00:14:00,972 --> 00:14:06,144
even trade that they are giving
me exposure, they're
letting

284
00:14:06,144 --> 00:14:11,919
me, you know, advertise what I
do, and in return for
that, I

285
00:14:11,919 --> 00:14:16,640
talk about one subject, and I
drop some, you know, some


286
00:14:16,648 --> 00:14:20,144
little pearls of, you know,
little pearls of wisdom, Ralph

287
00:14:20,144 --> 00:14:22,010
Estep Jr.: and I agree
with
you, DR. And let me just be

288
00:14:22,010 --> 00:14:25,585
clear, I'm not suggesting we get

to a point where we're

289
00:14:25,585 --> 00:14:28,160
charging to be on other people's
shows,
there are people that

290
00:14:28,160 --> 00:14:31,172
do that, there are people that
charge you
to be on their

291
00:14:31,172 --> 00:14:34,232
show, what I'm really talking
about is if
you're going to

292
00:14:34,232 --> 00:14:38,350
get into like DR, you do editing
work, so DR,
the obvious thing

293
00:14:38,350 --> 00:14:43,247
for me to say to you is you do
strategy
consulting, you help

294
00:14:43,247 --> 00:14:46,541
people grow and launch their
shows, that is
something that

295
00:14:46,541 --> 00:14:49,415
you can absolutely charge for
that
expertise.

296
00:14:49,415 --> 00:14:53,870
If you have a niche that you're,
that you're subject
in, like

297
00:14:53,870 --> 00:14:56,905
for example, Janae, Janae, I
think I can speak for
you and

298
00:14:56,905 --> 00:14:59,405
say your niche is in building
studios and
understanding.

299
00:14:59,405 --> 00:15:02,020
How to do that.
Well, that's something that


300
00:15:02,028 --> 00:15:04,659
Junaid should charge for.
Now, that doesn't mean he

301
00:15:04,659 --> 00:15:07,987
doesn't go
on someone else's
show to promote his brand to

302
00:15:07,987 --> 00:15:11,312
promote
what he's doing, but
at some point Junaid needs to

303
00:15:11,312 --> 00:15:13,830
make the
pivot.
And Junaid, feel free to jump in

304
00:15:13,830 --> 00:15:16,016
here if you want to
comment,
but at some point Junaid needs

305
00:15:16,016 --> 00:15:19,440
to make the pivot
because he
has knowledge in this niche and

306
00:15:19,440 --> 00:15:23,792
people need that
expertise on
that specific topic, and that's

307
00:15:23,792 --> 00:15:26,909
where I'm
really going today.
Is I think, as podcasters, we

308
00:15:26,909 --> 00:15:30,710
lose sight of
the fact that we
have all this richness that we

309
00:15:30,710 --> 00:15:33,759
build up on
ourselves, and we
understand our niche, we

310
00:15:33,759 --> 00:15:36,450
understand what we're
doing,
and I think that a lot of people

311
00:15:36,450 --> 00:15:39,035
go into this to make
money,
and their first thing they think

312
00:15:39,035 --> 00:15:42,391
is, well, I'm gonna
buy ads,
I'm gonna get sponsors, but my

313
00:15:42,391 --> 00:15:45,974
personal view is that
what
you're missing is the gold that

314
00:15:45,974 --> 00:15:49,324
you already have in the
area
of expertise that you're talking

315
00:15:49,324 --> 00:15:52,550
about every week, and I
think
that we got to change our

316
00:15:52,550 --> 00:15:55,370
mindsets and say, you know,

there's opportunities there,

317
00:15:55,400 --> 00:15:56,640
Junaid.
I don't know if you
wanted to

318
00:15:56,640 --> 00:15:58,331
comment, I don't know if you're
available to comment,
but go

319
00:15:58,331 --> 00:16:00,071
ahead, you know, Junaid:
absolutely, I would love
to

320
00:16:00,071 --> 00:16:01,284
comment, and you're absolutely
right.

321
00:16:01,284 --> 00:16:03,860
You know, the
more
conversation we have in our

322
00:16:03,860 --> 00:16:06,070
expertise, the more points we're

building.

323
00:16:06,070 --> 00:16:10,070
The one thing that I have been
doing for the past
many, many

324
00:16:10,070 --> 00:16:14,705
years is that anytime I do, do I
give a consult, I
take down

325
00:16:14,705 --> 00:16:17,411
that conversation and I say, can
I make a blog post
out of

326
00:16:17,411 --> 00:16:19,215
this?
Can I make a post out of this,

327
00:16:19,215 --> 00:16:22,739
so others can learn
more about
it as well, because again, as

328
00:16:22,739 --> 00:16:25,865
we're having these

conversations, we're digging the

329
00:16:25,865 --> 00:16:30,695
depths of our brains to answer

questions that might some were

330
00:16:30,695 --> 00:16:33,755
not be answered before, right?

So now you're essentially

331
00:16:33,755 --> 00:16:39,050
building an archive of your

content, of your answers, and I

332
00:16:39,050 --> 00:16:42,830
think that's what's important,

because not every time that we

333
00:16:42,830 --> 00:16:46,460
answer a question, or even when
you're starting out, we have so

334
00:16:46,460 --> 00:16:48,860
much experience, and I'm

probably going all over the

335
00:16:48,860 --> 00:16:49,895
place, but you're absolutely

right.

336
00:16:49,895 --> 00:16:52,256
I'm going to pause here.
Ralph Estep Jr.: No, and Junaid,

337
00:16:52,256 --> 00:16:54,164

you're absolutely right, and
that's the whole point, is I


338
00:16:54,172 --> 00:16:57,348
think we have to be - I say this
on the show all the time - you


339
00:16:57,356 --> 00:17:00,539
have to be intentional with your
content, and that is, and I'm


340
00:17:00,547 --> 00:17:03,992
not saying to bait and switch,
because I like what Ty put in


341
00:17:04,000 --> 00:17:05,419
there.
He said, when people get the

342
00:17:05,419 --> 00:17:08,105
feeling that is just a money

grab, they'll feel that, and so

343
00:17:08,105 --> 00:17:10,391
will you.
I agree with that, but
I think

344
00:17:10,391 --> 00:17:13,984
you could be intentional in
setting up your information
so

345
00:17:13,984 --> 00:17:18,393
that it's put in a way that
there is an on ramp to, hey, I


346
00:17:18,401 --> 00:17:20,005
need to hire you as a
consultant.

347
00:17:20,005 --> 00:17:24,185
I just think so many

podcasters miss out on that, and

348
00:17:24,185 --> 00:17:27,560
they don't think about the next
step to that, because you can

349
00:17:27,560 --> 00:17:30,380
get into corporate workshops,

you can do training, there's all

350
00:17:30,380 --> 00:17:33,080
kinds of things, and the beauty
of this part, and this is the

351
00:17:33,080 --> 00:17:36,170
part that I really love, for

independent do-it-yourself

352
00:17:36,230 --> 00:17:39,950
podcasters, you don't need

100,000 downloads to get to

353
00:17:39,950 --> 00:17:44,300
this, if you look at cost per

million or cost per 1000 CPM,

354
00:17:44,330 --> 00:17:47,420
yeah, you're going to get

nickels and dimes with a small

355
00:17:47,420 --> 00:17:50,225
audience, but if you have a

product that you're selling, you

356
00:17:50,225 --> 00:17:52,496
have a service, you have a niche

that you're working in that

357
00:17:52,496 --> 00:17:55,085
you are a consultant, that
you're an
expert in, that you

358
00:17:55,085 --> 00:17:58,379
don't need 100,000 downloads,
you just need
to be the most

359
00:17:58,379 --> 00:18:02,039
credible voice in that specific
niche, and I think
that a lot

360
00:18:02,039 --> 00:18:04,145
of people don't realize that,
and that's where
you're

361
00:18:04,145 --> 00:18:06,815
building up your episodes,
you're building up
that back

362
00:18:06,815 --> 00:18:09,868
catalog that people go and
listen to those like you
just

363
00:18:09,868 --> 00:18:12,620
mentioned, Janae, and they say,
"Wow, yeah, I gotta hire


364
00:18:12,628 --> 00:18:15,395
Junaid, because here is a person
that understands it.

365
00:18:15,395 --> 00:18:19,070
But we also
have to be
intentional, because you have to

366
00:18:19,070 --> 00:18:22,382
realize that you are
building
that content library, you don't

367
00:18:22,382 --> 00:18:24,320
want to just give away

everything, and that's probably

368
00:18:24,320 --> 00:18:26,680
not a very common thing that

people say.

369
00:18:26,680 --> 00:18:30,287
I truly do not believe that you
have an
obligation to give

370
00:18:30,287 --> 00:18:33,604
away everything that you know.
I
think there are ways to

371
00:18:33,604 --> 00:18:36,496
phrase it, there are ways to put
it
together intentionally, so

372
00:18:36,496 --> 00:18:38,729
that you give yourself an
opportunity
to make money, but

373
00:18:38,729 --> 00:18:42,884
I listen to a ton of shows where
people never
even have a call

374
00:18:42,884 --> 00:18:45,715
to action is hire me.
I'm going to get to
that in a

375
00:18:45,715 --> 00:18:48,301
couple minutes, because the
truth of the matter
is for

376
00:18:48,301 --> 00:18:50,975
most of us, your first
opportunity is going to come


377
00:18:50,983 --> 00:18:53,300
from a listener, someone that
already knows you, someone who


378
00:18:53,308 --> 00:18:55,720
likes you and trusts you,
because you're building that up

379
00:18:55,720 --> 00:18:58,560
with your audience.
So, let me open up to the room

380
00:18:58,560 --> 00:19:00,680
right now.

What topic could you be hired to

381
00:19:00,680 --> 00:19:03,130
speak about right now.
I just
want to let everybody

382
00:19:03,130 --> 00:19:05,309
make their comments here.
If you'd like to
come on stage

383
00:19:05,309 --> 00:19:08,363
and talk about what topic you
could be hired to
speak about

384
00:19:08,363 --> 00:19:10,510
right now, I think we can start
there.

385
00:19:10,510 --> 00:19:13,325
Does anybody
want to comment
about the topic that they could

386
00:19:13,325 --> 00:19:16,390
be hired at
right now?
It looks like Gabe put in the

387
00:19:16,390 --> 00:19:19,557
chat, he said live
streaming,
and then Ty put in there.

388
00:19:19,557 --> 00:19:23,084
This book really helped
me
with self image, and that is she

389
00:19:23,084 --> 00:19:24,513
put a link to that in the
show
notes.

390
00:19:24,513 --> 00:19:27,119
I don't know, Nikki, are you
available to mention the
name

391
00:19:27,119 --> 00:19:29,665
of that book?
Knikki: Yes, it's called Your


392
00:19:29,673 --> 00:19:31,575
Wish Is Your Command.
Ralph Estep Jr.: Very good.


393
00:19:31,583 --> 00:19:33,598
Thank you for sharing that.
I'm going to share a couple more

394
00:19:33,598 --> 00:19:35,258

things that I see Jessica put
in.

395
00:19:35,258 --> 00:19:38,530
It's paying or receiving

payment for a legal system that

396
00:19:38,530 --> 00:19:41,500
recognizes and enforces

ownership of an idea creation,

397
00:19:41,500 --> 00:19:43,354
invention, education, and for

the brand.

398
00:19:43,354 --> 00:19:45,778
Tim says you should be
compensated for your


399
00:19:45,786 --> 00:19:48,316
knowledge, because it costs you
either time or money.


400
00:19:48,324 --> 00:19:51,066
Absolutely, Tim, that is 100% of
where I'm going with this.

401
00:19:51,066 --> 00:19:54,214
And
Tim says I like to speak
at conferences because it's like

402
00:19:54,214 --> 00:19:56,455
a
free sample.
You nailed it, Tim.

403
00:19:56,455 --> 00:19:59,705
Exactly, that is the mindset

that we need to have and.

404
00:19:59,705 --> 00:20:03,371
I hope this goes along with what
DR was
saying as well.

405
00:20:03,371 --> 00:20:06,400
That conference, that conference
talk is a free
sample.

406
00:20:06,400 --> 00:20:09,773
You hope that the person sees
you on stage or hears you
and

407
00:20:09,773 --> 00:20:13,629
says, you know what, I got to go
find that, and that's the
key

408
00:20:13,629 --> 00:20:16,835
to this whole thing.
And I see Tim mentioned here

409
00:20:16,835 --> 00:20:19,600
that he
is an expert in
creativity, writing and

410
00:20:19,600 --> 00:20:21,400
podcasting.
Junaid,
we talked about home

411
00:20:21,400 --> 00:20:23,418
studio stuff.
Knikki writing and
tutoring.

412
00:20:23,418 --> 00:20:27,649
Jessica said, I would like to
speak on the on the
power of

413
00:20:27,649 --> 00:20:28,600
story.
Great idea.

414
00:20:28,600 --> 00:20:30,025
Knikki also put parent coaching.



415
00:20:30,033 --> 00:20:33,770
BC, did you want to mention what
you were mentioning in the


416
00:20:33,778 --> 00:20:34,832
comments?
BC Babbles: Sure, yeah.

417
00:20:34,832 --> 00:20:38,050
I mean,
the kind of thing that
Alex discuss on shows include


418
00:20:38,058 --> 00:20:40,574
podcasting as a business
development tool.

419
00:20:40,574 --> 00:20:44,839
Why a lot of
content marketing
fails in this current market.

420
00:20:44,839 --> 00:20:49,569
And my biggest
discussion
every topic has, for the longest

421
00:20:49,569 --> 00:20:52,279
time, been the
entrepreneurial
culture of the unprofessional.

422
00:20:52,279 --> 00:20:55,465
That's my bread
and butter,
that's where I live.

423
00:20:55,465 --> 00:20:59,005
So, anything like that is my

home base for discussion.

424
00:20:59,125 --> 00:21:00,925
Ralph Estep Jr.: Excellent.
Does
anyone else want to share

425
00:21:00,925 --> 00:21:04,133
before we move on to our next

discussion point here today.

426
00:21:04,133 --> 00:21:06,799
Hi, I just want to remind
everybody
to join us tomorrow.

427
00:21:06,799 --> 00:21:09,430
Tomorrow, we're going to have a
special
guest joining us on

428
00:21:09,430 --> 00:21:11,462
the show.
Tomorrow is Daniel J.

429
00:21:11,462 --> 00:21:14,173
Lewis.
He
has been in podcasting for

430
00:21:14,173 --> 00:21:15,826
a long time.
We're going to talk
about his

431
00:21:15,826 --> 00:21:17,260
journey, and we're going to talk
about his tools.


432
00:21:17,268 --> 00:21:20,230
He's got two tools that he's
developed for podcasters, one of

433
00:21:20,230 --> 00:21:23,755

them is called Podgagement,
and the other is Pod Chapter.

434
00:21:23,755 --> 00:21:25,870
So,
make sure you join us
tomorrow.

435
00:21:25,870 --> 00:21:27,808
He will be on the show.
And just
to give you a little

436
00:21:27,808 --> 00:21:30,455
bit of a heads up, we're also
gonna have
Dave Jackson on the

437
00:21:30,455 --> 00:21:33,184
show on Thursday.
So, we got two big
interviews

438
00:21:33,184 --> 00:21:35,404
this week, and hopefully, we'll
get the
technology to work.

439
00:21:35,404 --> 00:21:38,077
I will be back in the home
studio on
Wednesday.

440
00:21:38,077 --> 00:21:40,657
Tomorrow might be interesting,
but we're gonna
make it work.

441
00:21:40,657 --> 00:21:44,075
So, let's go ahead and move into
the next area that
I put

442
00:21:44,075 --> 00:21:47,419
together here, and this is the
thing that it kind of goes


443
00:21:47,427 --> 00:21:50,884
along with what Tim said, and
that is what most podcasters


444
00:21:50,892 --> 00:21:54,844
don't realize is your RSS feed
is a demo reel, because when


445
00:21:54,852 --> 00:21:57,556
someone's deciding to hire a
speaker or a consultant, they


446
00:21:57,564 --> 00:22:00,730
want to hear how the person
thinks, they want to understand

447
00:22:00,730 --> 00:22:04,600
how you communicate, whether
you can hold a room, and your

448
00:22:04,600 --> 00:22:07,382
back
catalog of episodes is
exactly that proof.

449
00:22:07,382 --> 00:22:11,908
So, let's talk about
an action
plan of how to make this turn

450
00:22:11,908 --> 00:22:15,190
into money for your
show,
because I think you need to

451
00:22:15,190 --> 00:22:17,530
really work about this, and a

lot of people don't do this.

452
00:22:17,530 --> 00:22:20,530
So, I've come up with some ideas

that you can implement this

453
00:22:20,530 --> 00:22:22,981
week to help you take that next
step.


454
00:22:22,989 --> 00:22:27,082
The first step is this: you've
got to add a button to your


455
00:22:27,090 --> 00:22:30,420
website, work with me, or hire
me to speak on your website.

456
00:22:30,420 --> 00:22:32,354
A
lot of people don't think
about that.

457
00:22:32,354 --> 00:22:35,814
If you don't ask, no one
is
going to know that's available.

458
00:22:35,814 --> 00:22:38,957
I think that is
really
important, and you can do that.

459
00:22:38,957 --> 00:22:42,913
It's super simple to do
that,
just go put a button on your

460
00:22:42,913 --> 00:22:45,364
website, work with me, or
hire
me to speak.

461
00:22:45,364 --> 00:22:47,152
Put that on your on your
website.

462
00:22:47,152 --> 00:22:49,964
Another
thing you can do is
write a one paragraph speaker

463
00:22:49,964 --> 00:22:52,492
bio and do it
in the third
person.

464
00:22:52,492 --> 00:22:55,040
When I did some research for
today's show,
I thought that

465
00:22:55,040 --> 00:22:57,856
was kind of a cool idea.
Is you can go right
to, if

466
00:22:57,856 --> 00:23:00,259
you've got like a pod match
profile, you're kind of


467
00:23:00,267 --> 00:23:03,073
already doing that, but put it
on your website, so people know,

468
00:23:03,073 --> 00:23:05,353

oh, they can hire you.
Well, that's part of it.

469
00:23:05,353 --> 00:23:08,721
The second,
or the third step
to this, is then list maybe

470
00:23:08,721 --> 00:23:11,905
three, four, or
five talk
topic, talk talk topics.

471
00:23:11,905 --> 00:23:13,585
Twisted words are hard
in the
morning.

472
00:23:13,585 --> 00:23:16,921
I wish I could play the jingle,
but I'm
struggling with that

473
00:23:16,921 --> 00:23:19,135
today.
But list three or five talk

474
00:23:19,135 --> 00:23:22,150
topics
you could deliver right
now, and then the other thing I

475
00:23:22,150 --> 00:23:23,880
want to
recommend.
This is what I call step four.

476
00:23:23,880 --> 00:23:27,442
You could curate
three, four,
or five of your best episodes as

477
00:23:27,442 --> 00:23:30,504
proof of
expertise samples.
Again, it's putting those

478
00:23:30,504 --> 00:23:33,670
samples out there
that other
people you can see.

479
00:23:33,670 --> 00:23:37,390
And then the fifth step I had

here is add a contact form or a

480
00:23:37,390 --> 00:23:41,110
booking email address that I

think is a piece that a lot of

481
00:23:41,110 --> 00:23:43,132
people miss, and you can do

that.

482
00:23:43,132 --> 00:23:46,564
It's super simple to do.
I think that is really easy to

483
00:23:46,564 --> 00:23:48,835
do.

And then once that page is live,

484
00:23:48,835 --> 00:23:51,175
you're operating as a business

now, and you're doing that

485
00:23:51,175 --> 00:23:54,393
before $1 even comes in.
And
that's when you can talk,

486
00:23:54,393 --> 00:23:56,209
and we're going to pivot to this
in
a minute, but that's when

487
00:23:56,209 --> 00:23:59,113
you talk about how do we get to
the
business side of this.

488
00:23:59,113 --> 00:24:01,801
But the first thing you've got
to do is
change your mindset

489
00:24:01,801 --> 00:24:04,999
and start thinking about how do
I bring
business into this,

490
00:24:04,999 --> 00:24:08,718
because, like I said earlier, I
think a
lot of content

491
00:24:08,718 --> 00:24:11,620
creators are thinking about
advertisers and
are thinking

492
00:24:11,620 --> 00:24:14,137
about sponsors and are thinking
about all those
things, but

493
00:24:14,137 --> 00:24:17,736
what they're not thinking about
is what can you
sell, what are

494
00:24:17,736 --> 00:24:20,893
the services, what are the
things that you
know how to do

495
00:24:20,893 --> 00:24:22,474
really well, that will stand
out.

496
00:24:22,474 --> 00:24:25,412
You've got that
back catalog.
Go back and look at those

497
00:24:25,412 --> 00:24:26,738
things.
You can go
through your

498
00:24:26,738 --> 00:24:29,215
episodes and say, oh, you know
what, I do know how
to, I do

499
00:24:29,215 --> 00:24:31,144
understand that there's a,
there's a market for that.

500
00:24:31,144 --> 00:24:34,029
I
think what you're going to
find is a lot of people are

501
00:24:34,029 --> 00:24:36,165
going to
say, yeah,
absolutely, I need to have the,

502
00:24:36,165 --> 00:24:38,125
I need to talk with
this
person.

503
00:24:38,125 --> 00:24:41,109
Maybe you create that 15 minute
discovery call,
so that you

504
00:24:41,109 --> 00:24:44,015
can sort of put your arm around
them and explain what
you do,

505
00:24:44,015 --> 00:24:47,027
but then you also have to have
an intentionality in how
am I

506
00:24:47,027 --> 00:24:50,585
going to make this work, because
I think it's real easy
to get

507
00:24:50,585 --> 00:24:53,032
trapped in those DMs and
offering yourself out there and

508
00:24:53,032 --> 00:24:55,365
not getting paid for.
I think all of us have been

509
00:24:55,365 --> 00:24:57,313
guilty of
that.
Does anybody want to comment

510
00:24:57,313 --> 00:25:00,456
about a situation where
they
felt like they.

511
00:25:00,456 --> 00:25:03,193
Were get set up for this
intellectual
property dump,

512
00:25:03,193 --> 00:25:05,278
but nobody wanted to pay them at
the end.

513
00:25:05,278 --> 00:25:06,733
And what
did you learn from
that?

514
00:25:06,733 --> 00:25:08,344
Does anybody want to comment
about
that?

515
00:25:08,344 --> 00:25:09,960
All right.
Well, let's move on a little

516
00:25:09,960 --> 00:25:11,143
bit.
Then, so
once that page is

517
00:25:11,143 --> 00:25:14,694
live, and I actually recommend
you do a
separate page on your

518
00:25:14,694 --> 00:25:16,907
website, I think what you need
to do is
then we have to have

519
00:25:16,907 --> 00:25:18,805
a discussion about what do you

charge, because this is the

520
00:25:18,805 --> 00:25:21,381
other thing that I hear a lot of

content creators just don't

521
00:25:21,381 --> 00:25:22,795
know what to do, and that's
Ralph.


522
00:25:22,803 --> 00:25:25,741
Hey, I love what you're saying,
dude, but how do you make that


523
00:25:25,749 --> 00:25:27,478
work?
How do you charge for that?

524
00:25:27,478 --> 00:25:30,145
So, let's talk numbers,

because this is where a lot of

525
00:25:30,145 --> 00:25:32,560
people freeze up.
Let's start
with guest

526
00:25:32,560 --> 00:25:34,660
speaking.
These are free events and

527
00:25:34,660 --> 00:25:37,933
exposure, like,
like Tim
mentioned, I think BC might have

528
00:25:37,933 --> 00:25:39,684
mentioned it.
I don't
think you're going to

529
00:25:39,684 --> 00:25:41,854
charge for those things, but
here's the
thing, I'm going to

530
00:25:41,854 --> 00:25:45,379
tell you to do is get a
recording of it, get
a

531
00:25:45,379 --> 00:25:47,464
testimonial, or several
testimonials from people who


532
00:25:47,472 --> 00:25:50,430
were there, so that they can
talk about what you learned, but

533
00:25:50,430 --> 00:25:53,730

get that recording, because
you can take and repurpose that

534
00:25:53,730 --> 00:25:58,264
recording and use it as your
resume, use it to promote what


535
00:25:58,272 --> 00:26:02,440
you talked about, that could
parlay that into income for your

536
00:26:02,440 --> 00:26:06,525

business, and I know, Junaid,
you do a great job at the


537
00:26:06,533 --> 00:26:08,103
Empower podcasting too.
You had videos.

538
00:26:08,103 --> 00:26:10,881
Do you want to talk
about that
at all, Junaid, about how you

539
00:26:10,881 --> 00:26:13,691
were able to put that
together
and how you people could use

540
00:26:13,691 --> 00:26:15,475
that information?
Junaid: Absolutely, and I'm


541
00:26:15,483 --> 00:26:18,353
trying to think about, so yeah,
Empowered Podcasting, what I


542
00:26:18,361 --> 00:26:22,637
did, I set up cameras to capture
the event, and then eventually


543
00:26:22,645 --> 00:26:26,558
on the on the end of it, like,
hey, we have Chris content


544
00:26:26,566 --> 00:26:27,950
available.
Well, who captured it?

545
00:26:27,950 --> 00:26:30,190
Oh, Jeanette captured, or
what
does he do?

546
00:26:30,190 --> 00:26:33,756
He does home studio, and then my
talk was
also on that topic,

547
00:26:33,756 --> 00:26:36,070
right?
So, again, it's all it all comes

548
00:26:36,070 --> 00:26:39,316

around, and it's not going to
have happen overnight, either,


549
00:26:39,324 --> 00:26:42,160
right?
It takes time to build that

550
00:26:42,160 --> 00:26:46,570
foundation and the

connectivity with people, and

551
00:26:46,570 --> 00:26:48,880
yeah, words are not working in

the morning for me either.

552
00:26:48,880 --> 00:26:50,780
No, but thank you.
Ralph Estep Jr.: But what you're

553
00:26:50,780 --> 00:26:53,745

getting at, Junaid, is you
showed your proficiency in what

554
00:26:53,745 --> 00:26:56,881
you do.
You didn't charge for that, per

555
00:26:56,881 --> 00:27:00,443
se, you, but you, you
gave
information so people could see,

556
00:27:00,443 --> 00:27:03,355
oh, that's oh, who is the

person I need to talk to, and I

557
00:27:03,355 --> 00:27:05,575
would be willing to bet there

were probably several people

558
00:27:05,575 --> 00:27:08,635
that approached you after that

event that took an interest in

559
00:27:08,635 --> 00:27:10,255
what you do.
Is that, is that
true, Junaid?

560
00:27:10,825 --> 00:27:13,330
Junaid: Yes, it is true.

Absolutely, there's a few other

561
00:27:13,330 --> 00:27:17,020
people, then few other events

that I went to post that to be

562
00:27:17,020 --> 00:27:18,718
able to offer that same service.



563
00:27:18,726 --> 00:27:23,645
In fact, there's one coming up
in September, so super excited


564
00:27:23,653 --> 00:27:29,206
for continued exponential growth
through just that one


565
00:27:29,214 --> 00:27:30,510
experience.
Ralph Estep Jr.: Thank you,


566
00:27:30,518 --> 00:27:31,360
Junaid.
And that's where I think you

567
00:27:31,360 --> 00:27:32,440
need to start those guests

speaking.

568
00:27:32,440 --> 00:27:34,200
I don't think you're charging
for that, DR. You
mentioned

569
00:27:34,200 --> 00:27:35,259
that.
How do you do that?

570
00:27:35,259 --> 00:27:37,373
I don't think you charge
for
those things, but those things

571
00:27:37,373 --> 00:27:39,849
get you out there in
front.
But make sure you have a copy of

572
00:27:39,849 --> 00:27:41,392
it, make sure you be
able to
use it.

573
00:27:41,392 --> 00:27:44,044
Now, the next thing, a lot of
people don't
think about,

574
00:27:44,044 --> 00:27:46,906
there are events and small
community local
conferences in

575
00:27:46,906 --> 00:27:49,279
your area.
If you're in expertise, you

576
00:27:49,279 --> 00:27:53,161
could
charge anywhere from 250
to $1,000 to go speak at those


577
00:27:53,169 --> 00:27:55,036
things.
You could do virtual keynotes,

578
00:27:55,036 --> 00:27:58,274
online summits, you
can make
anywhere from 500 to $2,500

579
00:27:58,274 --> 00:28:01,414
doing those.
But here's
the one I think we

580
00:28:01,414 --> 00:28:04,710
can really focus in on here for
a couple
minutes.

581
00:28:04,710 --> 00:28:07,315
One on one consultant, that's
where you're charging an


582
00:28:07,323 --> 00:28:10,666
hourly rate, and people are
making anywhere from 75 to $200

583
00:28:10,666 --> 00:28:14,233
an hour to start.
If you have a specific area that

584
00:28:14,233 --> 00:28:17,425
you're smart
in, that you
really worked in, that you have

585
00:28:17,425 --> 00:28:20,465
this back catalog
of
information in, that is an easy

586
00:28:20,465 --> 00:28:22,310
thing to do.
Now I'm gonna
say easy thing

587
00:28:22,310 --> 00:28:25,343
to do, but it's a thing that a
lot of people don't
think

588
00:28:25,343 --> 00:28:27,853
about.
It's a way to make some money.

589
00:28:27,853 --> 00:28:32,218
Stop chasing the
CPMs top,
chasing sponsors, go sell

590
00:28:32,218 --> 00:28:34,216
yourself doing one on one

consulting.

591
00:28:34,216 --> 00:28:37,350
I just think there's a huge
opportunity there, and I
think

592
00:28:37,350 --> 00:28:39,951
a lot of people don't think
about that doing that.

593
00:28:39,951 --> 00:28:43,552
The
other thing you can do is
put together some consulting


594
00:28:43,560 --> 00:28:46,684
packages.
I know Janae does this for

595
00:28:46,684 --> 00:28:48,550
people with Home Studio, and

BC, I'm going to come to you in

596
00:28:48,550 --> 00:28:51,730
just one second, but you can put

that together in some sort of

597
00:28:51,730 --> 00:28:54,700
package where you're promoting

your services and you're

598
00:28:54,700 --> 00:28:58,990
actually showing somebody how

to, how to get past that pain

599
00:28:58,990 --> 00:29:00,400
point they're having.
But go
ahead, BC.

600
00:29:01,090 --> 00:29:02,760
BC Babbles: No, I absolutely

agree, and what I was going to

601
00:29:02,940 --> 00:29:05,850
add there to what you were

saying is that a lot of what I

602
00:29:05,940 --> 00:29:10,470
do when it comes into packages

for anything that I provide, and

603
00:29:10,470 --> 00:29:13,740
I always look to provide a kind
of three tier system to what I

604
00:29:13,800 --> 00:29:15,854
provide.
When it comes to
consulting, I

605
00:29:15,854 --> 00:29:19,554
would consider having kind of a
base just
discussion every

606
00:29:19,554 --> 00:29:22,720
hour, but sometimes you might
come into
contact with a

607
00:29:22,720 --> 00:29:24,845
potential client that wants
something more
actionable,

608
00:29:24,845 --> 00:29:28,195
more in depth out of the hour,
or maybe over an hour
of your

609
00:29:28,195 --> 00:29:30,560
time.
So I would even consider doing a

610
00:29:30,560 --> 00:29:34,588
tier system,
upping the price,
because those more involved

611
00:29:34,588 --> 00:29:38,670
sessions may
involve you
prepping beforehand, having the

612
00:29:38,670 --> 00:29:41,852
actual meeting, then
prepping
post facto to follow up, and

613
00:29:41,852 --> 00:29:44,418
that's a lot of your
time, and
so I think building a system

614
00:29:44,418 --> 00:29:46,810
like that, to your point,

Ralph, will be a really great

615
00:29:46,930 --> 00:29:49,510
asset for you going forward as a

consultant.

616
00:29:50,320 --> 00:29:51,280
Ralph Estep Jr.: Thank you, BC.


617
00:29:51,288 --> 00:29:52,714
And now, does anybody else want
to comment?

618
00:29:52,714 --> 00:29:55,289
I want to talk about
pricing
this, because this is the thing

619
00:29:55,289 --> 00:29:57,543
that a lot of people..

Go ahead, Tide, I see you just

620
00:29:57,585 --> 00:29:58,880
made a comment.
Go ahead, Tide.

621
00:29:58,880 --> 00:30:01,090
Knikki: Yeah, I was just going

to say that you're.

622
00:30:01,090 --> 00:30:03,957
Ideas were absolute fire,
because when you
think about

623
00:30:03,957 --> 00:30:06,753
the opportunities that we have
online to present
our

624
00:30:06,753 --> 00:30:09,437
knowledge and expertise,
sometimes we think that we need

625
00:30:09,437 --> 00:30:12,145
the validation of another
person to go on another show, or

626
00:30:12,145 --> 00:30:15,373
to do
this or that, to get our
expertise out there, and to get

627
00:30:15,373 --> 00:30:18,377
our name out there, but there's
a lot of things that you


628
00:30:18,385 --> 00:30:21,414
mentioned that you can do solo
that will drive people onto your

629
00:30:21,414 --> 00:30:24,382

email list and within your
communities, so that you're not

630
00:30:24,382 --> 00:30:27,484
always hunting and fishing, and
on, you know, in other people's

631
00:30:27,484 --> 00:30:30,173
parks, so to speak, and the
Eventbrite, Eventbrite is a


632
00:30:30,181 --> 00:30:32,545
great thing.
Mark, the host of this podcast,

633
00:30:32,545 --> 00:30:35,693
when we had that
get-together
in Maryland, I believe he said

634
00:30:35,693 --> 00:30:38,884
that he posted
the event on
Eventbrite, and it was a free

635
00:30:38,884 --> 00:30:41,684
thing, but there were
people
there that surprised him, that

636
00:30:41,684 --> 00:30:42,926
showed up.
They didn't.

637
00:30:42,926 --> 00:30:44,476
He
didn't know these
individuals.

638
00:30:44,526 --> 00:30:47,479
They just found the event on

Eventbrite and decided to come

639
00:30:47,529 --> 00:30:50,132
and show up, which was a

pleasant surprise for Mark,

640
00:30:50,182 --> 00:30:52,893
because he didn't expect it.
So,
if you are a consultant,

641
00:30:52,893 --> 00:30:55,730
or you feel like you've got
something
to offer and

642
00:30:55,730 --> 00:30:58,676
something to share, you can, you
know, go on other
people's

643
00:30:58,676 --> 00:31:01,654
shows, of course, and that can
be very helpful, but
you don't

644
00:31:01,654 --> 00:31:04,060
always have to.
If you grab the bull by the

645
00:31:04,060 --> 00:31:07,218
horn, so to
speak, and you put
an Eventbrite out there, or just

646
00:31:07,218 --> 00:31:10,074
something -
it could be an
online webinar, something that

647
00:31:10,074 --> 00:31:12,819
you could
eventually have
pre-recorded, where it's sent

648
00:31:12,819 --> 00:31:15,594
out, whatever
the case is.
You could put that out there,

649
00:31:15,594 --> 00:31:18,966
put some tickets - it
could be
a free event if you wanted it to

650
00:31:18,966 --> 00:31:21,946
be free, or your
tickets could
be cheap, or they could be

651
00:31:21,946 --> 00:31:24,580
affordable, or they
could be
expensive, you know, just

652
00:31:24,580 --> 00:31:27,470
depending on how you see it

being the most successful, and

653
00:31:27,520 --> 00:31:30,223
put that out there, and you

could really getsome, some

654
00:31:30,273 --> 00:31:33,210
surprises, some people out there

that want to hear what you

655
00:31:33,210 --> 00:31:36,322
have to say, but you'll never
know if
you don't put yourself

656
00:31:36,322 --> 00:31:37,865
out there.
Ralph Estep Jr.: I absolutely


657
00:31:37,873 --> 00:31:40,592
agree with that, and again, you
don't need 5000 people to show


658
00:31:40,600 --> 00:31:43,402
up to make this work.
You can have five people show

659
00:31:43,402 --> 00:31:46,454
up, and if
they're the right
people, that can be super

660
00:31:46,454 --> 00:31:48,937
profitable for you.

Thank you very much for sharing

661
00:31:48,989 --> 00:31:50,998
that, Knikki.
Does anybody else
want to

662
00:31:50,998 --> 00:31:53,538
share any quick ideas before we
talk about pricing?


663
00:31:53,546 --> 00:31:57,011
Because I think this is the
mindset we need to spend a few


664
00:31:57,019 --> 00:31:59,286
minutes on pricing.
So, let's get right to it.

665
00:31:59,286 --> 00:32:02,389
So, how do you
price this?
The first thing I'm going to say

666
00:32:02,389 --> 00:32:05,378
is, start with your
current
day job hourly rate as a floor,

667
00:32:05,378 --> 00:32:08,689
whatever you're making in
your
current day job, don't go below

668
00:32:08,689 --> 00:32:10,764
that.
That's the thing you
need to

669
00:32:10,764 --> 00:32:12,433
understand.
Don't give away the store.

670
00:32:12,433 --> 00:32:15,701
If your current
day job hourly
rate is $20 an hour, then if

671
00:32:15,701 --> 00:32:18,664
you're going to do
consulting
work on your own, don't charge

672
00:32:18,664 --> 00:32:21,379
any less than that.

And I hope you guys understand

673
00:32:21,431 --> 00:32:24,691
why I'm saying that, it wouldn't

make any sense to do with that

674
00:32:24,743 --> 00:32:27,073
at that point, so that's one

thing to consider.

675
00:32:27,073 --> 00:32:30,194
What is your current job rate?
Use that as a
floor, don't

676
00:32:30,194 --> 00:32:33,126
ever go below that.
You can also get in the


677
00:32:33,134 --> 00:32:35,791
project-based pricing, because
that actually usually earns more

678
00:32:35,791 --> 00:32:38,471

than that hourly, and
especially in my practice in

679
00:32:38,471 --> 00:32:40,126
accounting, we
see that all
the time.

680
00:32:40,126 --> 00:32:43,316
A lot of people want to say,
well, my
hourly rate is this,

681
00:32:43,316 --> 00:32:45,791
but you can get into
project-based pricing
because

682
00:32:45,791 --> 00:32:48,780
people are buying an outcome,
they're buying the
resolution

683
00:32:48,780 --> 00:32:51,301
to the pain that they're
feeling, they're they're


684
00:32:51,309 --> 00:32:55,091
buying that, and I like what BC
said, is to what degree should


685
00:32:55,099 --> 00:32:58,086
someone base their models off of
information provided by Chat DB?

686
00:32:58,086 --> 00:32:59,927


Yeah, I think you have to be

687
00:32:59,979 --> 00:33:03,187
careful with that, BC, because

again, the thing about AI, it's

688
00:33:03,239 --> 00:33:06,343
going to tell you the average.
I
think that's the issue, and

689
00:33:06,395 --> 00:33:08,068
Janae says it should be double

that.

690
00:33:08,068 --> 00:33:11,364
And I agree with you, I think
that's a good place to
start,

691
00:33:11,364 --> 00:33:13,370
Janae.
I just think that a lot of

692
00:33:13,370 --> 00:33:16,019
people have a hard time

saying, what do I charge for my

693
00:33:16,071 --> 00:33:19,175
services, and if I can say to

them, hey, start off with what

694
00:33:19,227 --> 00:33:22,021
you're making in your, your

regular job, if you have a

695
00:33:22,073 --> 00:33:25,125
regular job outside of content

creation, and don't go below

696
00:33:25,177 --> 00:33:26,093
that.
Go ahead, BC.

697
00:33:26,093 --> 00:33:27,920
I see you
want to make a
comment.

698
00:33:28,100 --> 00:33:29,930
BC Babbles: Yeah, and you know

what, I love that you mentioned

699
00:33:29,960 --> 00:33:32,720
that kind of difficulty that I

think a lot of us creatives or

700
00:33:32,780 --> 00:33:36,620
consultants have when it comes

to pricing, and not just

701
00:33:36,650 --> 00:33:39,770
pricing, but also supporting the

pricing when someone questions

702
00:33:39,920 --> 00:33:41,595
what we price for what we

provide.

703
00:33:41,595 --> 00:33:44,410
I had a colleague who started
their own podcast
earlier this

704
00:33:44,410 --> 00:33:47,614
year, and she made a great
comment about what
happens

705
00:33:47,614 --> 00:33:50,890
when she faces that same kind of
obstacle when someone


706
00:33:50,898 --> 00:33:55,508
questions the pricing of a
service, and she mentions what


707
00:33:55,516 --> 00:33:59,950
really helps support your
decision on pricing a service is

708
00:33:59,950 --> 00:34:03,408

when you really line item
everything that comes with it, a

709
00:34:03,408 --> 00:34:06,582

lot of times people will see
singular service, single


710
00:34:06,590 --> 00:34:11,148
outcome, and then see this
price, and to them the client


711
00:34:11,156 --> 00:34:14,730
doesn't make sense.
But when you line item

712
00:34:14,730 --> 00:34:18,467
everything that
actually
requires that service to be

713
00:34:18,467 --> 00:34:21,047
provided, it helps.
Sorry,
words are hard.

714
00:34:21,047 --> 00:34:25,790
It helps to make the pricing
more sensible to
them.

715
00:34:26,560 --> 00:34:28,820
Ralph Estep Jr.: I agree with

you, and I think that's really

716
00:34:28,873 --> 00:34:30,714
important.
And the thing that
also I

717
00:34:30,714 --> 00:34:33,942
wanted to say here, and that's
the thing that I've
learned

718
00:34:33,942 --> 00:34:36,789
myself, think about this as a
mindset shift as well.

719
00:34:36,789 --> 00:34:39,456
Your
first three, four, or
five gigs are market research.

720
00:34:39,456 --> 00:34:42,824
You might,
you might not do
them for the prices you're going

721
00:34:42,824 --> 00:34:44,646
to
eventually be able to
charge.

722
00:34:44,697 --> 00:34:47,783
You may even consider doing them

for free, but it creates..

723
00:34:47,783 --> 00:34:49,621
I'll give you an example of
this.

724
00:34:49,621 --> 00:34:53,005
I
did some coaching for people
on how to make money with their

725
00:34:53,005 --> 00:34:55,137
show.
The first two people that I took

726
00:34:55,137 --> 00:34:57,895
on as clients, I said I

normally would charge x dollars

727
00:34:57,947 --> 00:35:00,051
for this.
I said, but because
I'm doing

728
00:35:00,051 --> 00:35:02,497
this, I'm just.
Starting this out, I'm going to

729
00:35:02,497 --> 00:35:06,291
give you this 12 week package
for free, and I use that as an


730
00:35:06,299 --> 00:35:08,895
opportunity to understand what
would work, what wouldn't work,

731
00:35:08,895 --> 00:35:12,099
and it was super important for
me to do that, because guess


732
00:35:12,107 --> 00:35:15,483
what, I got a great, I got great
testimonials out of it, I


733
00:35:15,491 --> 00:35:18,640
understood the stress points of
it, I understood what was


734
00:35:18,648 --> 00:35:21,774
working, what wasn't working,
and then once I got done that I

735
00:35:21,774 --> 00:35:24,510
can say, okay, here's what I
can actually charge for this,


736
00:35:24,518 --> 00:35:27,934
because then I knew what it
would cost in my time, I knew


737
00:35:27,942 --> 00:35:31,114
the resources I needed to use,
and that's the thing we had to


738
00:35:31,122 --> 00:35:34,408
be on, we have to understand
it's okay to give away that free

739
00:35:34,408 --> 00:35:37,017

sample to somebody to learn
how to make something that's

740
00:35:37,017 --> 00:35:40,273
going
to be long term, I just
want to mention a couple things,

741
00:35:40,273 --> 00:35:43,053
Tim put
in the chat here.
He says I do project-based.

742
00:35:43,053 --> 00:35:46,950
I also use error
rates for
professionals around the US, as

743
00:35:46,950 --> 00:35:49,515
reported by their
members.
That's the Association of

744
00:35:49,515 --> 00:35:51,351
Independence in radio.
Great
point, Tim.

745
00:35:51,351 --> 00:35:55,031
Another thing I want to mention
here is, and this is
a thing a

746
00:35:55,031 --> 00:35:58,513
lot of people struggle with, and
I see this with a lot
of small

747
00:35:58,513 --> 00:36:01,140
business people, the first thing
they start doing is


748
00:36:01,148 --> 00:36:03,525
apologizing for their rate, hear
me on this.

749
00:36:03,525 --> 00:36:05,665
Don't do that.

People want to see confidence

750
00:36:05,718 --> 00:36:08,198
when you say my rate is this or
my price is this.

751
00:36:08,198 --> 00:36:11,348
Do it confidently and be quiet.
I used
to work in a credit

752
00:36:11,348 --> 00:36:13,940
union, and I worked with
collectors, and the
things

753
00:36:13,940 --> 00:36:17,531
that we taught there was what we
call the pregnant pause,
and a

754
00:36:17,531 --> 00:36:20,493
lot of people, when they're
trying to sell
something, just

755
00:36:20,493 --> 00:36:22,463
keep on talking and keep on
talking.

756
00:36:22,463 --> 00:36:25,844
One of the
things I'm going to
tell you right now, one of the

757
00:36:25,844 --> 00:36:28,994
one of the
tricks of the trade
here for sales is, give your

758
00:36:28,994 --> 00:36:32,240
fee, give
your price, and be
quiet, and trust me, it's going

759
00:36:32,240 --> 00:36:35,391
to be a
struggle, because
you're going to want to talk,

760
00:36:35,391 --> 00:36:38,513
because they're
not going to
say anything right away, but let

761
00:36:38,513 --> 00:36:41,322
it sit, but don't
ever
apologize for your prices, so

762
00:36:41,322 --> 00:36:44,046
let's talk right now about

what people are charging or

763
00:36:44,099 --> 00:36:47,358
thinking about charging for the
things that you're consulting.

764
00:36:47,411 --> 00:36:50,303
If anybody wants to make a

comment about something that

765
00:36:50,355 --> 00:36:53,562
you're working on right now or a

project that you've done for

766
00:36:53,615 --> 00:36:56,700
somebody, how did you decide how

much you're going to charge

767
00:36:56,700 --> 00:36:58,784
for that?
Does anybody want to
comment

768
00:36:58,784 --> 00:37:00,240
on that?
Go ahead, Knikki.

769
00:37:00,340 --> 00:37:03,480
Knikki: Sure, so for me, one of
the clients that I am still

770
00:37:03,570 --> 00:37:06,120
currently working with were in

it, definitely for the long

771
00:37:06,240 --> 00:37:08,571
haul.
When we first met each
other,

772
00:37:08,571 --> 00:37:12,074
I knew that this individual had
a high net worth.


773
00:37:12,082 --> 00:37:15,193
I knew that, and I was okay with
that.

774
00:37:15,193 --> 00:37:18,586
And at first, I felt a
little
nervous, just a little bit

775
00:37:18,586 --> 00:37:21,290
nervous, because I was like,

okay, you know, he's this is a

776
00:37:21,320 --> 00:37:23,584
great opportunity for me.
This
is, it's not just about

777
00:37:23,584 --> 00:37:26,158
the money, but it's also a great

opportunity for me to work

778
00:37:26,158 --> 00:37:29,807
with somebody of a very high
caliber
in my industry, etc.

779
00:37:29,807 --> 00:37:31,832
etc.
So I really, really, really

780
00:37:31,832 --> 00:37:35,720
worked
hard to psych myself up
for the meeting and to project


781
00:37:35,728 --> 00:37:40,179
confidence, and the confidence
that I have, it came from true


782
00:37:40,187 --> 00:37:43,120
expertise, so it wasn't fake
confidence at all.

783
00:37:43,120 --> 00:37:47,310
I had true
expertise, but what
I wanted to do was I wanted to

784
00:37:47,310 --> 00:37:51,085
project
confidence that I knew
what I was talking about, and I

785
00:37:51,085 --> 00:37:53,464
also
wanted to project
confidence about the money

786
00:37:53,464 --> 00:37:55,203
aspect, which is
what you were
saying, Ralph.

787
00:37:55,203 --> 00:37:57,340
You know, you got to be able to
quote your price and be

788
00:37:57,490 --> 00:38:00,870
confident in that, and in this

particular case, the thing that

789
00:38:00,960 --> 00:38:04,500
helped me was I spoke to a

person, actually here on

790
00:38:04,650 --> 00:38:06,414
Clubhouse.
They're not in this
space

791
00:38:06,414 --> 00:38:08,620
necessarily, but there's a
person who came on Clubhouse.

792
00:38:08,620 --> 00:38:11,260
I
don't really see them very
often anymore, and he's a

793
00:38:11,260 --> 00:38:13,900
marketing
person, and he was
somebody who I trusted.

794
00:38:13,900 --> 00:38:16,572
I said, you know
what, I'm
going to trust this person's

795
00:38:16,572 --> 00:38:20,420
advice, because the
reason why
I trusted it was because this

796
00:38:20,420 --> 00:38:24,762
person has no, it's
you got to
be a little bit, you know,

797
00:38:24,762 --> 00:38:29,404
discerning, but this
person
has what I want, he has what I

798
00:38:29,404 --> 00:38:31,082
want.
So, if he has what
I want, and

799
00:38:31,082 --> 00:38:34,120
he started from zero, like I
did, then that
means that he

800
00:38:34,120 --> 00:38:38,072
can give me some advice on how
to maneuver and
handle this

801
00:38:38,072 --> 00:38:40,726
situation, because he's been
there, that's the
reason why I

802
00:38:40,726 --> 00:38:43,612
trusted it, so he told me.
He said, 'Here's the
thing you

803
00:38:43,612 --> 00:38:46,317
need to know about this high net
worth individual,
and he

804
00:38:46,317 --> 00:38:50,518
doesn't even know this person,
and he goes, 'That
person will

805
00:38:50,518 --> 00:38:57,322
have no issues spending the high
dollar amount
with you if they

806
00:38:57,322 --> 00:39:00,627
feel confident that it's going
to be worth it.


807
00:39:00,635 --> 00:39:03,240
If they feel confident it'll be
worth it, they'll spend the


808
00:39:03,248 --> 00:39:06,136
money, they won't even blink
twice at what you quote them if

809
00:39:06,136 --> 00:39:08,420
they feel it's worth it.
So I said okay.

810
00:39:08,420 --> 00:39:12,456
So that was the
mindset that I
went into the meeting with, is

811
00:39:12,456 --> 00:39:16,714
conveying the
worth and
conveying the value of what we

812
00:39:16,714 --> 00:39:19,352
were going to do and
create
together.

813
00:39:19,352 --> 00:39:21,438
And we've since completed the
project.

814
00:39:21,438 --> 00:39:23,461
It's been
an amazing journey
thus far.

815
00:39:23,461 --> 00:39:26,420
He continues to pay me monthly

residuals, and blah blah blah,

816
00:39:26,420 --> 00:39:29,720
and all these other things,

because I'm building something

817
00:39:29,780 --> 00:39:32,460
incredible for him.
And so that
was the big lesson

818
00:39:32,460 --> 00:39:35,060
that I had to learn,
particularly,
particularly

819
00:39:35,060 --> 00:39:38,115
about high net worth
individuals, that they
don't

820
00:39:38,115 --> 00:39:42,056
bat an eye an eyelash at paying
a high rate, if they feel
it's

821
00:39:42,056 --> 00:39:43,600
worth it.
It's usually the people that

822
00:39:43,600 --> 00:39:46,437
don't have a ton of
money that
are the ones sort of nickeling

823
00:39:46,437 --> 00:39:49,108
and diming you and
questioning
you about every single thing,

824
00:39:49,108 --> 00:39:51,640
and those people
can really
get you down sometimes.

825
00:39:52,240 --> 00:39:53,852
Ralph Estep Jr.: No, and I think

that's brilliant.

826
00:39:53,852 --> 00:39:56,858
You said a couple things I want
to, I want
to spend a couple

827
00:39:56,858 --> 00:39:59,363
of moments on Knikki.
The first thing is, what
you

828
00:39:59,363 --> 00:40:02,294
are selling is a solution.
Solution, you're not selling a


829
00:40:02,302 --> 00:40:04,739
price, you're selling value,
you're selling something that


830
00:40:04,747 --> 00:40:08,022
the person is going to take
away, and I think it's real easy

831
00:40:08,022 --> 00:40:10,752

to get stuck in this mindset
of well, here's what I'm

832
00:40:10,752 --> 00:40:13,587
charging,
what you need to
start thinking in terms of

833
00:40:13,587 --> 00:40:16,131
here's the solution
I'm
providing, here's the pain point

834
00:40:16,131 --> 00:40:18,768
I'm resolving, here's the

thing that's going to happen

835
00:40:18,817 --> 00:40:21,700
once you do this, I think it's

so important that we spend a

836
00:40:21,749 --> 00:40:24,729
little time and think through

that, because if you go into it

837
00:40:24,778 --> 00:40:27,532
with, here's the price, that's

the wrong attitude to have.

838
00:40:27,532 --> 00:40:30,337
You got to go into it.
Here's what
I'm going to give

839
00:40:30,337 --> 00:40:31,966
you.
Here's the value you're going to

840
00:40:31,966 --> 00:40:34,065
get
from that.
I think that is the difference.

841
00:40:34,065 --> 00:40:35,804
I want to read a
couple
comments.

842
00:40:35,804 --> 00:40:38,973
Gabe put in the comments here.
I'm still
figuring, or still

843
00:40:38,973 --> 00:40:42,295
figuring out how to build out my
pitch deck
for my services.

844
00:40:42,295 --> 00:40:44,801
Conversation really helped me
understand how
better to

845
00:40:44,801 --> 00:40:46,818
approach this.
Jessica put bookkeeping is my

846
00:40:46,818 --> 00:40:49,455
part-time
job, and when I
secure new clients, we begin

847
00:40:49,455 --> 00:40:52,090
with the
retainer fee based on
what their needs are.

848
00:40:52,090 --> 00:40:55,062
Great point, Tim says
I'm at
work, so he couldn't really see

849
00:40:55,062 --> 00:40:57,993
her on stage, but
since my
clients are remote, a line item

850
00:40:57,993 --> 00:41:00,710
I charge for recording
time, I
charge them for my subscription

851
00:41:00,710 --> 00:41:03,888
to Descript Squad
Cast, and
BC, did you want to mention what

852
00:41:03,888 --> 00:41:06,170
you put in the chat
here?
BC Babbles: Oh, sure, yeah.

853
00:41:06,170 --> 00:41:08,822
So,
a couple years ago, back
when I was just getting into

854
00:41:08,822 --> 00:41:12,566
consulting
and had no idea
where to begin regarding what's

855
00:41:12,566 --> 00:41:16,539
a price for my
time, had a
friend who would always tell me,

856
00:41:16,539 --> 00:41:21,072
put yourself
where people can
afford you, so don't let

857
00:41:21,072 --> 00:41:24,920
yourself worry too
much about
hitting those prospective

858
00:41:24,920 --> 00:41:29,488
clients who are only
able to
handle low, low tier pricing,

859
00:41:29,488 --> 00:41:32,630
because it may just be
that
those are not your people, or

860
00:41:32,630 --> 00:41:35,224
that may not be your
audience.
If you're looking to, especially

861
00:41:35,224 --> 00:41:37,218
if you're looking to
consult
certain kind of businesses, then

862
00:41:37,218 --> 00:41:40,190
be confident
where you price
yourself and establish yourself

863
00:41:40,190 --> 00:41:44,278
in front of
the eyes of the
people who can see that pricing,

864
00:41:44,278 --> 00:41:47,200
respect it,
and bring you on
with it.

865
00:41:47,200 --> 00:41:49,639
Ralph Estep Jr.: Absolutely, and

I think BC, it's so important

866
00:41:49,694 --> 00:41:52,838
that we spend a moment there.
A
lot of people think, well,

867
00:41:52,893 --> 00:41:55,833
nobody's buying my services,

nobody's buying my products.

868
00:41:55,833 --> 00:41:59,102
The problem is you're talking to
the
wrong people, so you've

869
00:41:59,102 --> 00:42:02,387
got to put yourselves in front
of the
audience that can

870
00:42:02,387 --> 00:42:05,688
afford your services, you got to
put
yourself in front of the

871
00:42:05,742 --> 00:42:08,562
audience that needs your

services and finds value in

872
00:42:08,616 --> 00:42:11,707
them, and I think that's the

stumbling block for a lot of

873
00:42:11,761 --> 00:42:15,068
folks, they struggle because,

and I think Knikki, you kind of

874
00:42:15,122 --> 00:42:18,267
alluded to this, you have to

have this confidence, but you

875
00:42:18,321 --> 00:42:21,358
also have to put yourself on

stages and in a place where

876
00:42:21,412 --> 00:42:24,518
people can afford your services,

where people can do that.

877
00:42:24,518 --> 00:42:27,889
It's super important to do that.
I
want to mention something

878
00:42:27,889 --> 00:42:31,334
here, Jessica, but she said I'm
contracted where my primary job

879
00:42:31,388 --> 00:42:34,533
and renegotiate every contract

based on the completion and

880
00:42:34,587 --> 00:42:37,515
amount of annual goals and

objectives builds trust and

881
00:42:37,569 --> 00:42:39,931
tangible value in terms of

business orientation.

882
00:42:39,931 --> 00:42:41,518
I agree with that
wholeheartedly.

883
00:42:41,518 --> 00:42:45,264
Now
I'm going to pivot here in
a moment, but does anybody else

884
00:42:45,264 --> 00:42:48,558
want to talk about how they
develop their pricing model, how

885
00:42:48,558 --> 00:42:51,938

they decide, how they build up
that confidence to reach out


886
00:42:51,946 --> 00:42:55,137
there and make that first
consulting pitch, or build out


887
00:42:55,145 --> 00:42:57,856
that first project?
Did anybody want to comment on

888
00:42:57,856 --> 00:42:59,824
that?
All
right, so let me get into

889
00:42:59,824 --> 00:43:02,814
some practicalities of this,
because
as the accountant or

890
00:43:02,814 --> 00:43:06,293
the money guy on the show, I
wanted to
bring up some other

891
00:43:06,293 --> 00:43:08,138
things here as we talk about
that.

892
00:43:08,138 --> 00:43:11,828
I
hopefully this was a good
inland ramp for ideas of how to

893
00:43:11,828 --> 00:43:14,723
start
actually building some
revenue, but this is the part

894
00:43:14,723 --> 00:43:17,910
that a lot
of indie podcasts
get surprised by, and that even

895
00:43:17,910 --> 00:43:20,605
a little bit
of income from
speaking or consulting comes

896
00:43:20,605 --> 00:43:24,134
with a tax
obligation at tax
time, and the best time prepared

897
00:43:24,134 --> 00:43:26,738
that first
check is not after
the check comes.

898
00:43:26,738 --> 00:43:30,287
So I wanted to just throw
out
some ideas that you've got to

899
00:43:30,287 --> 00:43:33,361
understand as you're thinking

about moving into this mindset

900
00:43:33,415 --> 00:43:36,343
shift of where you're going to

start charging for your

901
00:43:36,397 --> 00:43:39,097
consulting services or doing any

project-based things.

902
00:43:39,097 --> 00:43:42,958
The first thing you got to
understand is
something called

903
00:43:42,958 --> 00:43:44,966
self-employment tax.
Self-employment tax is
15.3%

904
00:43:44,966 --> 00:43:48,445
on top of regular income taxes.
That is the social
security

905
00:43:48,445 --> 00:43:50,893
and Medicare.
When you work for somebody else,

906
00:43:50,893 --> 00:43:53,536
they pay
half, you pay half.
Well, guess what?

907
00:43:53,536 --> 00:43:56,601
When you work for
yourself,
you pay both halves of that.

908
00:43:56,601 --> 00:43:59,999
So you've got to think at
the
front end of this budget between

909
00:43:59,999 --> 00:44:03,442
25 and 30% of whatever
you're
collecting and consulting income

910
00:44:03,442 --> 00:44:05,958
in this project income,
and
set that aside.

911
00:44:05,958 --> 00:44:09,218
Another thing we've talked about
this on
the show before, on

912
00:44:09,218 --> 00:44:12,297
these Money Mondays, is you may
need to make
quarterly

913
00:44:12,297 --> 00:44:15,558
estimated taxes, so you don't
get hit at the end of
the

914
00:44:15,558 --> 00:44:18,581
year, because guess what, the
IRS system is a pay as you
go

915
00:44:18,581 --> 00:44:21,250
plan, so you need to start
thinking about, okay, how much


916
00:44:21,258 --> 00:44:24,649
money have I made, and do I need
to send in quarterlies?

917
00:44:24,649 --> 00:44:28,255
Another
thing, and I'm not an
attorney, I don't play one on

918
00:44:28,255 --> 00:44:29,908
TV.
Always
use a contract whenever

919
00:44:29,908 --> 00:44:32,900
you're doing any kind of
consulting
work, any kind of

920
00:44:32,900 --> 00:44:35,226
project work.
It doesn't have to be something

921
00:44:35,226 --> 00:44:38,490
you know, 1500 pages, a simple
one page agreement to protect


922
00:44:38,498 --> 00:44:41,956
you and protect your person that
you're working with and


923
00:44:41,964 --> 00:44:43,510
establish that professional
relationship.

924
00:44:43,510 --> 00:44:47,024
I think that's
something that
we all need to really think

925
00:44:47,024 --> 00:44:48,911
about.
Another
thing we need to

926
00:44:48,911 --> 00:44:51,372
consider here is travel
reimbursements versus
taxable

927
00:44:51,372 --> 00:44:53,791
income.
If you have expenses that are

928
00:44:53,791 --> 00:44:55,991
reimbursed.
Of
the client, those are not

929
00:44:56,045 --> 00:44:59,127
income, you'll be able to offset

any of your travel costs.

930
00:44:59,127 --> 00:45:02,263
So, for example, I'm going to
use
Junaid as an example.

931
00:45:02,263 --> 00:45:05,206
So, Junaid came to Delaware to
help me with
my studio.

932
00:45:05,206 --> 00:45:08,869
Janae is going to, it's going to
cost him money to
fly there or

933
00:45:08,869 --> 00:45:10,581
drive there, whatever that looks
like.

934
00:45:10,581 --> 00:45:14,190
He
doesn't have to show this,
he may charge me for that, that

935
00:45:14,190 --> 00:45:17,174
may
be part of what he's
charging for the direct cost,

936
00:45:17,174 --> 00:45:19,414
maybe for a
hotel or something
like that.

937
00:45:19,468 --> 00:45:22,179
You need to make sure you're

keeping track of that

938
00:45:22,233 --> 00:45:25,378
information, because you don't

want to pay tax on what the

939
00:45:25,432 --> 00:45:28,685
person's actually paying you.
If
you had expenses related to

940
00:45:28,739 --> 00:45:31,721
that, any cash payments are

always.. you need to record

941
00:45:31,776 --> 00:45:33,674
those.
Also, a lot of people
say,

942
00:45:33,674 --> 00:45:36,896
well, they, you know, they pay
me cash, I want to report


943
00:45:36,904 --> 00:45:40,128
that, that's how Al Capone ended
up in jail, so don't do that


944
00:45:40,136 --> 00:45:41,752
now.
Before we go into the next

945
00:45:41,806 --> 00:45:45,059
topic, does anybody have any

questions about the tax side of

946
00:45:45,114 --> 00:45:46,837
this?
And I know we're kind of


947
00:45:46,845 --> 00:45:48,647
throwing a lot of things out
there.

948
00:45:48,647 --> 00:45:51,721
Go ahead, BC, looks like

you've got a question or a

949
00:45:51,721 --> 00:45:53,326
comment.
BC Babbles: Yes, I'm happy you


950
00:45:53,334 --> 00:45:55,402
mentioned this, because I have
that media correspondent service

951
00:45:55,402 --> 00:45:58,210

that I am offering now, which
anyone who's attending Empowered

952
00:45:58,210 --> 00:46:01,864

Podcasting this year will see
me doing at the conference, and

953
00:46:01,864 --> 00:46:06,385
I
have in that same offer a
bit about traveling, where I say

954
00:46:06,385 --> 00:46:10,525
I'm
happy to travel a certain
distance on my own, that's fine,

955
00:46:10,525 --> 00:46:13,918

but past this we discuss
compensating for that travel.


956
00:46:13,926 --> 00:46:17,928
Now, let's say a dream client of
mine for that would be NAB show,

957
00:46:17,928 --> 00:46:20,730

you've heard me and Mark geek
out over this before, but that's

958
00:46:20,730 --> 00:46:23,672

trip over to Las Vegas, and I
live over in Charlotte.

959
00:46:23,672 --> 00:46:27,390
So, my
question would be,
well, what if I don't have at

960
00:46:27,390 --> 00:46:31,493
the time of
being contracted
to do this event the means to

961
00:46:31,493 --> 00:46:35,150
make that
trip?
So, I would have to then say,

962
00:46:35,150 --> 00:46:39,045
okay, well, for this trip
we
would need to include this and

963
00:46:39,045 --> 00:46:42,280
at least an initial down

payment for the service to get

964
00:46:42,310 --> 00:46:45,250
me out there and put me up

somewhere to perform the

965
00:46:45,280 --> 00:46:48,520
service, and then to fly back

home, so it's not so much

966
00:46:48,610 --> 00:46:50,560
something that's reimbursed,

it's something that has to be

967
00:46:51,310 --> 00:46:54,190
taken care of before the service

even begins.

968
00:46:54,700 --> 00:46:56,230
Ralph Estep Jr.: I think that's
a great idea, BC, and I think

969
00:46:56,260 --> 00:46:58,960
that's just reasonable.
Just
keep track of what you're

970
00:46:58,990 --> 00:47:00,960
spending for that, what you're

basically saying, and correct me

971
00:47:00,960 --> 00:47:03,510
if I'm wrong, is that you're

saying to the potential client,

972
00:47:03,750 --> 00:47:06,150
"Hey, I'd love to come do this

service for you, but you're

973
00:47:06,180 --> 00:47:08,238
going to need to pay my travel

costs to get me there?

974
00:47:08,238 --> 00:47:10,671
Is that what you're saying, BC?
BC Babbles: Correct.

975
00:47:10,671 --> 00:47:13,011
And so, in
contrast to what
you were mentioning, where it's

976
00:47:13,011 --> 00:47:15,500
like a
post factor
reimbursement, this would be

977
00:47:15,500 --> 00:47:18,554
kind of part of the
pricing,
and therefore I guess it would

978
00:47:18,554 --> 00:47:22,110
be taxable, as opposed
to what
you were saying before about a

979
00:47:22,110 --> 00:47:23,465
reimbursement.
Ralph Estep Jr.: Well, it's


980
00:47:23,473 --> 00:47:25,750
going to be taxable, but
effectively you're going to


981
00:47:25,758 --> 00:47:29,308
still incur those expenses.
So, at the end of the day, yes,

982
00:47:29,308 --> 00:47:31,815
you're going to show that as
income revenue side, but you're

983
00:47:31,815 --> 00:47:33,923
going to deduct the cost of
that travel.

984
00:47:33,923 --> 00:47:35,568
It's just a different
way of
looking at it.

985
00:47:35,568 --> 00:47:37,550
BC, BC Babbles: oh, okay.
I like
that.

986
00:47:37,680 --> 00:47:38,932
Ralph Estep Jr.: Yeah, go ahead,

Tide.

987
00:47:38,932 --> 00:47:41,763
I see you have a comment.
Knikki: I was just going to say

988
00:47:41,763 --> 00:47:45,100
that, as far as the travel, one
of the best things that I have


989
00:47:45,108 --> 00:47:49,014
ever done, because it helped me
with my tax refund at the end of

990
00:47:49,014 --> 00:47:51,890

the year, was tracking my
mileage, that was the main


991
00:47:51,898 --> 00:47:55,215
thing, because I drive a lot and
I go to a lot of different


992
00:47:55,223 --> 00:47:58,114
places, I go to conferences, go
to business meetups, anything


993
00:47:58,122 --> 00:48:01,834
like that, and so even though my
mom does my taxes, and I asked


994
00:48:01,842 --> 00:48:04,757
her a long time ago, I was like,
"Mom, can I write off my, my


995
00:48:04,765 --> 00:48:06,610
gas?
And she was like, "No, but you

996
00:48:06,610 --> 00:48:09,030
can write off your, your

mileage, and I was like, "Okay.

997
00:48:09,120 --> 00:48:11,730
And so she said, "Keep track of
your speedometer, not your

998
00:48:11,730 --> 00:48:13,718
speedometer, but your mileage in

your car.

999
00:48:13,718 --> 00:48:16,440
Make sure that you have all
these records, because
when we

1000
00:48:16,440 --> 00:48:19,346
do your taxes and stuff, this is
going to help you reduce
how

1001
00:48:19,346 --> 00:48:21,985
much you have to pay, or it's
going to increase how much
you

1002
00:48:21,985 --> 00:48:24,819
get back, and I was like, okay,
so that's what I've been


1003
00:48:24,827 --> 00:48:28,745
doing, and last year I think it
was the very first year that I


1004
00:48:28,753 --> 00:48:32,840
actually kept track of my
mileage, and you know, I got a


1005
00:48:32,848 --> 00:48:36,272
substantial amount of money back
from taxes, just, and it wasn't

1006
00:48:36,272 --> 00:48:39,330
just from that, but that was a
significant reason why, was


1007
00:48:39,338 --> 00:48:43,538
because of the mileage, the
other piece to this is that if


1008
00:48:43,546 --> 00:48:46,828
you're traveling, whether you're
traveling a lot or a little,


1009
00:48:46,836 --> 00:48:50,554
it's always good to have rewards
programs, so if you are


1010
00:48:50,562 --> 00:48:54,688
traveling by plane, you want to
have the rewards programs of all

1011
00:48:54,688 --> 00:48:57,958

of those companies, so that
you can get the mileage and get

1012
00:48:57,958 --> 00:49:00,354
the
free flights and all of
those things, because that, that

1013
00:49:00,354 --> 00:49:02,736
will
help you as well in your
business, because then you're


1014
00:49:02,744 --> 00:49:05,562
not paying so much out of
pocket, and then you know you


1015
00:49:05,570 --> 00:49:08,322
get a lot of free stuff.
So, join their programs, and

1016
00:49:08,322 --> 00:49:10,416
they
don't cost anything that
I'm aware of.

1017
00:49:10,416 --> 00:49:13,230
They don't cost
anything.
And then the other piece is this

1018
00:49:13,230 --> 00:49:16,839
is not for
everybody, of
course, but sometimes hooking up

1019
00:49:16,839 --> 00:49:19,378
with a
travel agent can help
you.

1020
00:49:19,378 --> 00:49:22,018
It can help you get a lot of
free
stuff while you're on the

1021
00:49:22,018 --> 00:49:24,988
road, or at least discounted,
highly,
highly discounted

1022
00:49:24,988 --> 00:49:29,050
stuff, because they have a lot
of the access
and the deals

1023
00:49:29,050 --> 00:49:31,440
with these hotels, and with
these restaurants, and
bars,

1024
00:49:31,440 --> 00:49:34,190
and things like that, that
you'll be going to, they, they


1025
00:49:34,198 --> 00:49:37,360
can get you, you know, reduced
rates, and things like that.

1026
00:49:37,360 --> 00:49:40,864
So
it's really helpful, and I
was also just going to say that

1027
00:49:40,864 --> 00:49:43,726
if
you wanted to be a travel
agent yourself, I'm actually in

1028
00:49:43,726 --> 00:49:45,934
the
process, I'm thinking
about it, I'm thinking about

1029
00:49:45,934 --> 00:49:48,915
being a
travel agent as well,
because I know a lot of people

1030
00:49:48,915 --> 00:49:51,253
who travel,
and the cool thing
is that, like, if I'm

1031
00:49:51,253 --> 00:49:53,746
successful, I want
to help
other people be successful, so

1032
00:49:53,746 --> 00:49:57,340
if I become a
travel agent,
not only am I going to have

1033
00:49:57,340 --> 00:49:59,691
access to all the
perks
directly, because I'm the one

1034
00:49:59,691 --> 00:50:01,950
doing it.
But then I can
also help my

1035
00:50:01,950 --> 00:50:05,686
own family, who travels a lot,
and I can help
them, you know,

1036
00:50:05,686 --> 00:50:08,832
increase or decrease the cost of
traveling
and things like that

1037
00:50:08,832 --> 00:50:11,212
for their own businesses, for
their own,
you know, for their

1038
00:50:11,212 --> 00:50:13,689
own stuff, and then I can make
some
additional money on the

1039
00:50:13,689 --> 00:50:15,972
side, because I'm the one
helping them
book their

1040
00:50:15,972 --> 00:50:18,798
services, or book their stuff
out, so it's just
something I

1041
00:50:18,798 --> 00:50:20,788
was thinking about, and I just
wanted to share that,
because

1042
00:50:20,788 --> 00:50:23,237
I think that there's a lot of
ways to reduce expenses,
to

1043
00:50:23,237 --> 00:50:25,676
get some free stuff, to get some
discounted items, and
things

1044
00:50:25,676 --> 00:50:27,850
like that.
If you do it the right way, you

1045
00:50:27,850 --> 00:50:30,530
can really
reap the rewards of
all the traveling that you do.

1046
00:50:31,200 --> 00:50:33,233
Ralph Estep Jr.: Great point,

and Knikki, you set me up

1047
00:50:33,287 --> 00:50:36,659
perfectly for where I was going
to end today's show, and that's

1048
00:50:36,712 --> 00:50:39,816
what can you actually deduct.

So, I've got a quick list of

1049
00:50:39,870 --> 00:50:42,863
things that you can deduct.
A
lot of people don't think

1050
00:50:42,863 --> 00:50:45,972
about if you're traveling for
speaking
engagements, you can

1051
00:50:45,972 --> 00:50:48,304
deduct your flights, your hotel,
your meals.


1052
00:50:48,312 --> 00:50:51,833
Now, there's a 50% limitation on
meals, but keep track of all


1053
00:50:51,841 --> 00:50:54,128
those things.
If you have home office, it's

1054
00:50:54,128 --> 00:50:57,193
used exclusively
for
consulting or for calls, you can

1055
00:50:57,193 --> 00:51:00,048
take a deduction for that.

Any professional development,

1056
00:51:00,101 --> 00:51:03,366
some courses, or any books that
you're reading in your niche,

1057
00:51:03,419 --> 00:51:06,791
again, those are deductible, as
far as marketing expenses, your

1058
00:51:06,845 --> 00:51:09,842
website, your updates to your

website, maybe you've paid

1059
00:51:09,895 --> 00:51:12,786
somebody, or you've built a

media kit, you've designed

1060
00:51:12,839 --> 00:51:15,980
things, any of those headshots,
or any of the equipment used

1061
00:51:15,980 --> 00:51:19,476
for consulting calls, or content

creation, the key to this, and

1062
00:51:19,529 --> 00:51:22,687
if you've listened to me, you

know I say this all the time,

1063
00:51:22,741 --> 00:51:25,952
track every expense from day

one, even that $9 subscription.

1064
00:51:26,005 --> 00:51:27,826
You can use a simple

spreadsheet.

1065
00:51:27,826 --> 00:51:30,889
There's some free accounting
apps out there,
that's all you

1066
00:51:30,889 --> 00:51:33,447
need to start.
Spend that 30 seconds right now,

1067
00:51:33,447 --> 00:51:36,496

because it's going to save you
a ton of time later.

1068
00:51:36,496 --> 00:51:38,743
Well, that's
what I have
prepared for today.

1069
00:51:38,797 --> 00:51:41,497
It looks like we're just about

at the end of the day.

1070
00:51:41,497 --> 00:51:44,707
I want to remind everybody to
come back
tomorrow, like I

1071
00:51:44,707 --> 00:51:46,615
said.
We're going to have Daniel J.

1072
00:51:46,615 --> 00:51:49,173
Lewis on
the show.
I'm going to work diligently to

1073
00:51:49,173 --> 00:51:52,134
make the video
work.
I'm going to try to test that

1074
00:51:52,134 --> 00:51:54,907
out here a little bit.
But
thank you, everybody, for

1075
00:51:54,960 --> 00:51:57,329
joining me today.
And we will
see you again

1076
00:51:57,329 --> 00:51:59,225
tomorrow on the podcasting
morning show.


1077
00:51:59,233 --> 00:52:01,330
Everybody, have a great day
today.