About Gurus and Why MOST People Attend High Priced Events
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In this issue:
Why MOST People Attend High Priced Events
High vs. Low Visibility
Fred Reviews Site
How to Choose You Guru
Fred Info Bootcamp
Why MOST People Attend High Priced Events
After getting a ton of emails about high priced events, I’ve come to a conclusion. Most people who attend these events aren’t looking to get information or learn skills as their primary goal.
Most people have other objectives when they attend these high end events.
Number 1: Engraciate themselves to the Host
Number 2: Network with people who can pay that much
Number 3: Use it as a badge of honor to tell others
Number 4: Maybe pick up a few tips on the topic
Number 1: You will be welcome to attend my high priced events. It will in no way change my opinion of you as a PERSON. If you’re a nice guy before you pay me bunch of money, you’ll be a nice guy (or gal) afterwards.
Simply going to high priced events is one way the some “gurus” will allow you closer into their inner circle. Not true here. I let people into my inner circle who are the RIGHT people to be there. They can’t pay their way in.
Number 2: I guess you can network with some pretty snazzy people when you come to my high end events. But the kind of people I attract seem to be unimpressed.
Number 3: Can you tell people that you went to my event and use it as a bragging point with some friends. I guess so. I’ll even be printing out some certificates for those who attend.
BUT, again, these are not the kind of people that I attract. I attract people who aren’t all that affected by pomp and formality. The kind of people who don’t really care about image.
The kind of people who want to GET ER DONE!
Not the folks that feel the need to talk about it.
Number 4: This is what my events are ALL ABOUT! The rest of the stuff is interesting but much less important to me or the attendees.
People who go to my events in 99% of the cases tell me they have never received so much content in one place at one time.
I put on events that I would want to attend myself. The whole point of my events is to leave with good, solid, immediately useable content.
I suggest you follow my lead!
High vs. Low Visibility
There are pluses and minuses to being “OUT THERE” in your business. I believe that’s the case no matter what you do or are involved in.
When I used to see friends and colleagues get press and publicity I used to be a bit envious. Not so much anymore.
As you gain exposure, you gain EXPOSURE. The second being an opening for people to “attack” you in a variety of ways.
The attacking agents can be governmental or your run-of-the-mill individual. The disgruntled former customer who has decided to make you their latest whipping boy (or gal).
You can still make plenty of money operating under the radar. Although you may not get rock star treatment at events you attend or functions you go to, you’ll still do well at your local bank.
The obvious upside to having a lot of exposure is that you’re more apt to get on Oprah (or 60 Minutes for that matter). With press comes visitors to your website. With more visitors, more emails. More emails more people to sell stuff to.
I’ve done pretty well staying on the quiet side. I sometimes think it would be fun to be a well-known entity to the “outside” world, but then again maybe not.
There is something to be said for getting paid well and laying low.
I do see the benefits to the other side of this equation, but you better be SQUEAKY CLEAN if you choose to go that route!
The greater the exposure, the bigger the bulls-eye on the back of your shirt. With risk, comes reward.
Fred Reviews Site
As you may know, I’m a voracious reader. That in addition to being a complete movie FREAK. I see just about anything that comes out that is worth seeing. That comes to well over 100 and close to 150 movies per year just at the theatres.
I’ll try and remember to keep you posted on the books that I’m reading at any given time.
In the long term, I’ll be setting up a site that does reviews of both books and movies at www.FredReviews.com. Not up yet, so you won’t find anything there at this point.
My model is to get people to sign up for a free membership, then POSSIBLY convert them to a paid membership at a later date.
This will be the case with my site:
When the software is ready to go (it’s been close to THREE YEARS) I will launch this site. It will be a free site and I don’t forsee it going to a paid model.
More on that in the future.
As for the books I’m reading right now, here’s the list:
I Am American (And so can you!)
Stephen Colbert This guy is hilarious on TV and his book is just as good. I had seen the book, but Bob Bly’s comments on the item made me by it immediately.
Secret Lives of the Civil War by Cormac O’Brien (prompted by buying a copy of Ken Burns documentary on the topic from a gal on ebay)
The Ghost Map by Steven Johnson A medical thriller about Cholera in London in 1854
The American Plague by Molly Crosby About the Yellow Fever Epidemic
(The last two bought because of having read and LOVED The Great Influenza a year or so ago)
Clapton (His autobiography) No explanation necessary here
If Democrats Had Brains, They’d be Republicans by Ann Coulter I love reading books by bomb-throwers; Love her or hate her, she’s someone THEY are talking about.
**My good buddy Rachel Ebinem asked me the other day if I actually read all the books I buy. Good question. Yes, I was really lucky that my aunt paid for me to attend an Eveyln Wood Speed Reading Course in College. It worked. I read pretty fast as a result.**
Michael Clayton – Loved it. George Clooney is a demi-god. If you know him, tell him I said so and want to interview him!
Eastern Promises – Gory but good. See it, but not it you’re squeamish.
Gone Baby Gone – Haven’t seen it. Want to. Heard it’s great.
3:10 to Yuma – Not a Western fan but loved it.
Superbad – Supergood
2 Days in Paris – want to see it
Assassination of Jesse James – want to see it
PS – Bumped into the GREAT actor Malcolm McDowell on a flight from JFK to LAX. If you haven’t seen “A Clockwork Orange” you need to.
He was very gracious when I told him how much I liked his work. I was fascinated to see that he’s reading the sequel to Pillars of the Earth. I haven’t read the first one yet, but it’s on the list.
Go back and check your emails from the last 3 or 4 years and put in the key word “retirement.” You’ll be SHOCKED and AMAZED to see that like many a prize fighter, a number of GURUS have come OUT of retirement.
In the case of boxers, it’s usually because of the need to pay off IRS obligations or other creditors. In the case of the internet/information marketers? I don’t know..
Perhaps the same. Perhaps they really didn’t make as much as they claimed. Perhaps they had a drug habit? Perhaps they like spending money on “women of the evening” and that money ran out?
All of the above are probably true about some of those who have come out of retirement.
My question remains: If you loved what you do/did, why did you retire in the first place?
Like many other TECHNIQUES in the information marketing business, the retirement ploy is one that has been used successfully in the past.
People think that they’ll be getting an exceptionally good deal and then take people up on their offers to “get it” while the getting is good.
The problem with this approach is that once you’ve done this once, you’re done. People won’t believe you when you try and do it again. If they do, they are FOOLS!
So, take out your notepad and make a list of all the “gurus” who have retired at least once to this point in time. Make sure and post it somewhere where you don’t forget to look when you get the next email about guru retirement.
I make this Shermanesque pledge to you right now: I WILL NEVER RETIRE! They will have to drag me feet first from in front of my Mac! I will continue to be involved with the marketing and sale of information products, in some manner shape or form, until the day I drop dead!
Let’s hope that’s a while off, but if it’s not, I’ve had a great ride.
Like I said in my last Insight, I am seeing more and more shenanigans in the information marketing field. People who are involved who used to be actors. I guess that gives them the right to now be in the business of teaching info product marketing. Phooey!
So, watch out and keep your hip boots on. It’s getting really DEEP out there.
(I will tell you that most of the information/internet marketing gurus who have come “out” of retirement seem to be just about as punch-drunk as the now un-retired prize fighters.)
The Fred Info Bootcamp (New Date Added) January 31 – Feb. 7th – 4 spaces left
(What I really like about doing this work is that I get to learn and teach almost simultaneously – keep reading)
I got a lot of people who responded to the offer for the first week long, get a product completely done event that I’m holding in January.
I got so many people who put down a deposit that I’ve actually added another session. As I promised, this event is a test to work out the kinks. There will be only two events at this price and then the price will be somewhere between $5k an d$10k.
These first two times it is $2,500. I added an event because I didn’t want to turn away two people who registered almost simultaneously as registration was being shut down.
This is good and bad for me. Good in that I will have two “practice” events before the real deals happen every couple of months. Bad in that I’m forgoing a lot of revenue by offering the events at this lower price.
Whenever you offer something at a lower price that what you will eventually offer it at, you MUST give a logical reason.
In my case, the reason is that I had a rush of people who gave deposits and I didn’t want to disappoint them so I added another one week session. I like the fact that I’ll have two events before I start charging a lot more money to work out the kinks.
Most of my friends have been telling me that even at the $5k price point, it is too low.
So, here’s the lesson.
When you start to market a product or an event, you have no idea what the CORRECT price should be. That’s the price that maximizes revenue.
So you use what my logic professor from college used to use. It’s called R.E. method of selecting a price. R.E. refers to the illustrious system of RECTAL EXTRACTION.
You just pick a price and start there.
When you see that a product/event is selling like hotcakes it’s a pretty good indication that your price is too low. In a case like this event it makes sense to offer the first couple at a reduced fee because I’M going to be learning timing and content issues.
Everyone who is attending is aware of this fact and is OK with it because of the reduced fee. The only risk I have in offering the event at this price is that SOME people may not be able to fork over the bigger bucks for the future events.
Such is life. If people can find a way to finance a new car that does nothing be DEPRECIATE the moment you drive it off the dealer’s property, they will find a way to attend an event that will pay for itself in a matter of weeks or months!
I’m GUESSING that my price point for this event will end up being $7,777. Heck, it’s Vegas, why not? Also, it’s my time. I do not want to work for a full week, 7 days straight and not get compensated accordingly.
How to Choose Your Guru
I’ve talked about this before, but it make sense to discuss it again. The single best way to learn anything is to have someone show you HOW to do it. Someone who is both DOING it and who can teach it.
When selecting a mentor/guru/teacher you need to make sure that the person you select is both competent AND has a complementary personality to you.
I have an entire site set up for those people who are interested in getting personal coaching. It’s the site: www.TheProductGuru.com.
The site has remained more or less the same for the last couple of years. Recently, I’ve made a change. I now REQUIRE anyone who wants to become a personal coaching client to attend a Fred Info Bootcamp first.
Here’s my thinking.
If someone is willing to step up and pay to attend an event of this nature, they are obviously serious.
Now the question is whether or not there is a good personality match. When someone comes to my house and spends 7 straight days with me, I will have an EXCELLENT idea of whether or not they will be a good fit as a personal client.
Again, I suggest you copy what I’m doing. Naturally, it would be nice to get some credit, but take this info and run with it.
Hold events where people actually get something done before they leave. Use those events to help you screen for more personal, more expensive products and services that you offer them.
Am I concerned that others will take this idea and copy it? Nope. Why not? Because my teaching is “INSTRUCTOR DEPENDENT”. No one can teach the way I do. No one. Period. Full stop.
Therefore there is no REAL competition.
if you’re going to use this method you better make sure you get really good at teaching. I don’t care how well you know your topic, teaching skills are entirely different.
See you next time!