Pricing and Limiting Beliefs with Morgan Pierce
April 20th, 2017
beliefs, mindset, motivation, pricing
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It’s been a long time coming to get my good friend Morgan Pierce to join us on the podcast. Morgan is a wildly talented magician turned financial advisor from Kingston, Ontario who joined us to chat about finances and limiting beliefs.
If you want to better understand what you’re worth, listen to Morgan talk. He’s one of the only guys who can QUICKLY put things in a way that changes the way you think about yourself. Here’s an example from the episode. When Morgan was explaining how to price yourself he asked us:
“How much would you charge to stand there and do nothing for an hour”.
That question itself made me think about raising my price, since I deliver much more value performing than I do standing there doing nothing. Using the example that I would need to be payed at least $100/ hour to absolutely nothing, how much does that mean I’m worth to do something great!!
All of a sudden my worth just went up, because of a change in my own mindset!
The other fantastic thing about Morgan is he’s obsessed with how we think. Which means he’s often talking about limiting beliefs instead of tactics, mindsets instead of “hacks”. Since everything we do flows from the inside out, making sure you have a positive outlook, and setting yourself up for success are really important. Like anything difficult, you have to go into it with the right mindset.
In Episode 55 we finally dove into talking about money. Since Morgan is a financial advisor, I thought asking him for some standard financial advice for a magician would be helpful. It turns out, it was VERY helpful. Things like insurance for what we do is incredibly important which I wouldn’t have thought of. But also he gave us tips as to how to track what you do, and why that makes such a difference.
Most importantly when chatting about money, one of the important themes is tracking. Having a metric to track, allows you to really understand where you’re at, where you were, and where you’re headed.
If you know how much money you NEED to make, how much you usually make, and what your expenses are. Its much easier to make more, than if you’re purely guessing everything.
Find a way to track your income, and expenses to make sure you’re paying yourself first, putting the right amount of money into savings, back into your business, and making sure you are being responsible!
While the episode was mostly about money and limiting beliefs we did touch on a few other ideas that are worth mentioning.
The first is a New York Times article about recognizing patterns. Since so much of what we do is pattern recognition. I really love the article since it demonstrates the only way to learn a pattern. https://www.nytimes.com/interactive/2015/07/03/upshot/a-quick-puzzle-to-test-your-problem-solving.html (Do what I do and send it to girls when they say they don’t want to go out with you)
Another thing that we spoke about is engaging with your audience and performing the magic that they asks for.
As a performer it’s our job to serve our audience best. Which is what will allow us to charge what we’re worth.
As Pat Flynn says: your income is the metric which measures how well you serve your audience.
If we can learn over time what it is that our audience wants, then we should make magic that fulfills what they ask for (I wouldn’t want to play cards with you, can you make my wife disappear, etc…).
The better you get at serving your audience the more income you can expect.
It’s a equal balance of impact and income.
Overall, if you’ve ever had trouble with pricing yourself, it’s worth listening to the episode, even just for a philosophical reboot.
Lastly, our free course “Fantastic Gigs and Where to Find Them” starts May 1st.
If you cares about getting booked more be a part of our free 5 day course.
If you want to get involved head to ****{COURSE CLOSED}
