Chalene Johnson – How to Start a Business – Marketing Impact Academy 2019

(upbeat music) – [Woman] Thank you. – Yes, back here, is that Jimmy? – Hi.
– [Chalene] I think I need to get glasses or something. I can’t see anybody. – My name is Jimmy Nelson
it’s nice to meet you. – [Chalene] Hi Jimmy,
nice having you here. – [Jimmy] Okay so here is my question. So I’ve been in the same
industry for a day now, and successful at that, but knowing that my skill set is in storytelling, and my background is 20 years, as an actor, film, TV, and so yesterday, I think I kind of launched a business on accident, publicly here. Hey I help people tell better stories, and then I’ve been
stopped by people saying, okay so I want to work with you. So here’s my question, when
you’ve worked in an industry, when you’ve represented
someone else’s product, or their comp plan and they’re
like this is what you do, this is how you get paid, and all of a sudden you’re
launching your own thing, ’cause I always thought well
that needs to be a course, and then I would stop it, I
wouldn’t launch the course, and I’m like no, it’s a
product or service of me. It wasn’t that one-on-one
if I’m working with you or with a group of people,
that’s where I thrive, as opposed to looking
at building up modules just makes my brain fry. – [Chalene] Perfect. – So my question is, when
you’re launching your own thing, and it’s no longer
somebody else’s comp plans, when it comes to like a pricing structure or what it’s worth because you don’t want to ever build something for yourself, that then controls you, right, where this is still fun, it’s obviously bringing in more income, you’re getting to do what you love, but it’s also worth your time income wise, like where do you start
trying to figure out what is this worth?
Where do I start? – [Chalene] Yeah it’s a balance of and you just nailed it, and I’m so glad you asked this question. It’s a balance of what you
need to be paid for it, like what your time is worth
– [Jimmy] Sure. – And then you take into consideration how much you love doing it, right? – [Jimmy] Right. – But here’s a general rule of thumb, you can always discount or
offer a special to somebody, it’s hard to take your rates up, right. And we always value things that we know the person who’s delivering it values it. If a personal trainer comes in like hey I do personal training, do you want, I’m 12 bucks an hour. And you’re like huh. Like you wonder about
their credentials right, or there’s a difference between getting seven dollar
haircut, and how you feel when you get a 125 dollar haircut, not that I’ve ever had one. But do you know what I mean? Like there’s some things you’re like oh. (audience clapping)
(laughs) who knows? So my recommendation would be to and also to look at what other people in the industry are charging so that, helps you feel a little
bit better about it, but just start, and as
long as your pricing isn’t published, well
then no one knows it, and you can adjust accordingly. That was way more worth than I thought it was going to be. For example, Bret and I did mentoring for couples, entrepreneurial couples and people asked if we do
that privately anymore, and we usually don’t, and,
at the moment anyways, it wasn’t the right thing for us but, there are certain clients,
like yourself, who were a joy because they just did everything, and then there were certain
clients where it’s like, this causes me so much anguish
to work with this person, that you couldn’t pay
me enough money, right? I mean there isn’t enough money. And they’re the kind of person that kind of almost
makes you feel burnt out on something that you love. So it’s nice to be able to when you’re offering a high-end service,
pick who you get to work with and Jimmy, such a need. – And I, I would start, because
you kind of mentioned it, I would start almost
with the group setting, because it’s easier to
price a group setting, because you, you know
they’re still gonna get that individual attention from you, but the group setting, it
doesn’t have to be as scary, the price, because you’re
going to times that by how many you’re gonna put in the group. – [Jimmy] Yeah. And I also think its
easier to teach that way. Like if I’m sitting in a group setting, and we do a hot seat with you, and I ask you, okay tell me your story and tell me what you do, and naturally I can tie those things together. It’s one of those things
where you’re around and people go do you
realize what you just did, and I’m like oh no, is that a thing? That’s a thing, okay. But then when somebody else
sees me do it with someone even if they’re in the group, sometimes they connect their own dots. – [Bret] I think that people, so I used to, well I did for a long time, I coached high school football, but I also ran quarterback camps, and I would have parents
that thought their kid was the next Tom Brady, all the time, want me to just work with
their child individually. I would never do that. My individual session was always with either three or four kids, and parents would be like how are you, and I used to say, because a lot of times kids learn by watching
somebody else do it wrong or correctly and for me to either give the correction or you know the praise and so I always explain that, and I say you’re never gonna miss anymore reps because you know you’re still gonna get the same amount of time
on stage, in your example, and so it was always easier to price three or four package and stuff like that. – And with regard to Jimmy’s idea, maybe that’s not your exact idea, but maybe you have this thought of like well I kind of would like to help people, a big group of people
learn how to do this thing, but you can often figure
out like what that learning process looks
like for the average person by working one-on-one, or in small groups, where you’re offering a consultation fee, where people are skyping in. It’s almost like you’re
working with them in person. And you charge a higher level for that, or even to discount it knowing that with they’re in exchange for going
to give you a testimonial, or their feedback on the process, and that they are in essence, helping you to create
perhaps a course, maybe not. I mean you don’t have to have a course in order to make money online. Jimmy great suggestions and such a neat, – Thank you.
– [Chalene] I don’t think people understand like you just said, that their own story is really unique and what’s interesting. like I have so many questions
for Rachel, right, right? (laughs) – [Jimmy] Thank you guys. Appreciate it. (laughs) (upbeat music)

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