The Business of Authority

Are you ready to raise your rates?Talking PointsPrice pointsIt can be easier for service providers to raise prices than for people who produce products to raise pricesHourly rates vs. price for a projectTalking to clients about your ratesHow to raise rates with long-term clientsHow to quote per-project pricesPricing products instead of projectsPricing based on the benefits that you’re providingWhy you should tinker with your pricesQuotable Quotes “But for folks like us, it’s actually not that complicated because by and large, we’re not getting bulk discounts on anything, we don’t have, like, a supply chain or anything like that.” –JS“There’s all sorts of reasons why hourly rates are bad, there’s a couple situations where they can really work, but the thing that I find really difficult with them is you’re inviting your client to speculate about how you spend your time.” –RM“Folks who bill by the hour usually in their marketing don’t project themselves in a way that’s clear to their buyers exactly what the heck they do.” –JS“It doesn’t make them a bad client or you a bad consultant, but there are times when you just need to go out and get new clients, new people, experiment with different approaches and learn.” –RM

There are lots of ways to measure growth.Talking PointsNot all growth is goodGrowth is often measured by the number of employees, but that may not be the best measurementQ ScoresThe difference between strategy and tacticsOther ways to measure growthProgress vs. growthThe importance of valuing yourself and your servicesMeasuring growth by the number of clientsMeasuring growth by social media followers or subscribersVanity metricsDifferent businesses will have different measures of growth that are right for themQuotable Quotes  “This may be a uniquely American phenomenon--I think we define how many employees we have as almost a bragging right.” –RM“I don’t think it’s automatic that people think of profits as the money number counts as growth.” –JS“Just don't let what the external world sees drive you if it’s not what’s good for you.” –RM“For me, growth is all about funding the mission.” –JSRelated LinksA Company of One

Is it a good idea to use tweets for testing?Talking PointsPaul Jarvis’s experience testing with tweetsWhy you need to identify an audience before running with a projectWhat to do if you don’t already have a large email list or Twitter followingWhy you need to be able to describe your idea in a sentence or tweetWhat the market is good atWhy it can be helpful when your followers shut down your ideasWhen you’re pitching a new idea, you need constructive feedback, not unconditional encouragementMake sure that you’re pitching to your target marketQuotable Quotes“When I have an idea for something, I’ll just ask my list.” –JS“What that means for us is that we have no excuse not to test.” –RM“I’m not saying Facebook ads and Google ads don’t work, but they don’t work that great.” –JS“I also like when they just shut you down.” --RMRelated LinksPaul Jarvis Twitter Github

Paul Jarvis discusses his journey in tech, project selection process, scaling without more time, audience attraction, and defining success. He emphasizes staying small in business, hiring top talents, and the 'Company of One' mindset.

Bestsellers don’t just happen on their own. What do you have to do to create one?Talking PointsBig ideasWhy you need to be entranced with your big ideaA distinct point of viewDelivering content that serves your ideal audienceBuild your email listStart building an email list a year before you launchWrite the book that your audience wants or needs, but in your voiceApproach where they are, not where you think they should beRepeat with new booksQuotable Quotes“It’s not just about your topic, it’s about who you’re serving.” –RM“Delivering the content in advance – there’s so many advantages to that.” --JS“It’s not like there’s one way to success. There’s certainly a formula, but the formula needs to have your essence in it.” –RM“You kind of need to meet people where their awareness is. –JSRelated LinksJames ClearJill Konrath

How to find a marketing style that you feel good about.Talking PointsA lot of people have a false impression of marketing and sales and dislike marketing and sales because of that.Marketing is a way of making a change in the cultureIt’s easier to notice bad marketing models because good marketing doesn’t feel like marketingMarketing should help people as much as possible for freePushy hard-sell tactics can turn people offIf you believe you have valuable information that people should know about, you should share itPeople won’t magically find you. You have to let them know you’re thereKnow your audience, connect with them, and have empathy with themFind a way to deliver value with your marketingIf you’re in a service business, you already help people. Incorporate that into your marketingSay no to get to yesQuotable Quotes“Marketers are people who make change happen – in particular changes in the culture, which are very hard to make.” –JS“In my mind, marketing is everything from how you position yourself in the market, to your overall messages, to how you reach out to a swath of your public.” –RM“Our clients have a lot of choices, and it can be hard to find you amongst everybody else that’s in your niche.” –RM“The more empathy you have for your audience, the more natural you’re going to be at it.” –JSRelated LinksSeth GodinThe Secret of Selling Anything

Meet Chris Do, founder and CEO of Blind and The Futur.Talking PointsChris’s backgroundThe vision for The FuturChris’s plan for funding his projectsGrowing from $17K to $1.6M in annual revenue in 4 yearsThe benefits of using YouTubeWhether content can stand on its own without designMotivation and intentWhen to work with other people and when to go soloWhat things can and can’t be outsourcedWhich big ideas Chris presents to his audienceWhen to change your ratesQuotable Quotes“I think it’s important that we have more creative people, especially to solve some of the most perplexing problems facing humankind.” –CD“The worst that you fear never materializes, and if you have the courage to create content, it will be OK as long as you don’t go out of your way to hurt people. I think that’s the key.” –CD“Here’s the way I approach it: I’d rather not do it than do a mediocre job.” –JS“The business tools – they’re pretty straightforward. The miracle is when you’re going to use those tools.” –CDRelated LinksChris DoBlindThe Futur

What is the key difference between freelancers and business owners?Talking PointsFreelancers are business owners, they just don’t always know itFreelancers end up spending their time working in their business instead of on their businessThe difference is a difference in mindset. To be a business owner, you will need to think like a business ownerFreelancers who want to grow have to start thinking about business like a business – including marketing, finances, vision, and strategyIf clients can’t tell the difference between you and a cheaper freelancer, they will go with the person who is cheaperTo build a successful business, it’s important to understand what really adds value to your businessYou need to have a strong story in order to reach clientsYou have to be able to say no when asked to do something that’s outside of your expertise or the scope of your businessYour authority needs to be part of your branding and marketingPutting the time into building the businessThe three personality types that every business needsThe entrepreneur personality is the one that can’t be hired outWorking for a small agency before going solo can help you understand more of how the business end worksPeople who want to start an authority business need consulting skillsWhen you own a business, you set aside time to work on your business no matter how busy you are with client workThe time commitment involved in building a businessQuotable Quotes“As soon as you hang your shingle out there, you started a business, whether you know it or not or like it or not.” –JS“I think of a woodworker, for example, who makes beautiful furniture, but if you don’t have a way to sell it, if you don’t have a way to market it, if you don’t have a way to leverage the time that you put into it, if you don’t have a way to price it properly, then you don’t have a business. You have a craft.” –RM“If you’re not making some enemies, you’re not making any allies.” –JS“Freelancers, in particular, need to be reminded that it took a lot of courage to do that (leave their job). But the way to not have to go back and become an employee is to create a business around what you’re doing.” –RMRelated LinksThe Freelancer’s RoadmapBuilt to Sell

More systems that can help you build an authority business.Talking PointsContent is an important aspect of marketingA detailed checklist can be a helpful systemSpeaking can be a marketing activityIt’s helpful to have a system that allows you to schedule promotions of your contentCreating a playbook can be helpful for busy people who need guidance in promoting contentAdmin tasks are necessary, but can often be delegated to expertsDetermine which tasks are integral and necessary to your mission. You may be able to eliminate those that aren’tKeeping yourself healthy is necessary in order to keep performing at your bestExercise that you enjoy is good for both physical and mental healthSet boundaries for yourselfCreative pursuits can help you relax after a tough dayQuotable Quotes“With an authority business, your content is critical.” –RM“Your strategy should follow the medium too. You have to be respectful of the medium that you’re on.” –RM“I’m not anti-ads, but if it feels like torture, do something else. There are other things to do.” –JS“There are very very few things in my calendar that are immovable objects.” –JSRelated LinksMeet EdgarConvertKitWhen by Daniel Pink

What systems do you need to build an authority business?Talking PointsAn overview of the systems that authority businesses needWriting regularly is essential for building an authority businessRituals or routines can help establish a writing routineSchedule writing for a time when you’re at your best and you can be most creativeReading regularly can help spark ideasBe observant for examples of your subjectGet input from others who do more in-depth research on your subjectSchedule client workHave a plan for how to communicate with clientsSales is a one-to-one touchpoint with your clientsClear steps in the sales process help both you and your clientsThe speed element to salesQuotable Quotes“For me, writing is absolutely the most important thing I do for my business.” –JS“That’s the takeaway, find that right time – and that right system – so you can be at your best.” –RM“I’m always looking for great real-world examples that will snap people out of the way they think about how they –air-quotes price – their work in an hourly billing way.” –JS“We create the systems that we need to get our businesses and our lives in order. –RMRelated LinksWordpressDripGmailHow to Measure AnythingCalendlyTwistSlack