How does this happen?
How can someone charge $4,667 per hour? The short answer is…
Leverage
Let me give you a concrete example using a non-law business that’s leveraging technology and knowledge in astonishing ways.
A few months ago I got a pitch from a a big shot business consultant named Alan Weiss.
He’s written several books, including Million Dollar Consulting, and Million Dollar Speaking.
He’s someone that big companies hire to give keynotes at their big events, companies like these:
- Merck
- Hewlett-Packard
- GE
- Mercedes-Benz
- Times Mirror Group
- The Federal Reserve
- The New York Times, and
- Toyota.
Alan Weiss is a guy that’s learned how to sell his knowledge in a way that’s highly leveraged. He’s doing the opposite of reinventing the wheel.
He’s making lots of money off of a few “wheels” that he developed and refined.
That’s what massive leverage is all about.
Anyway, back the email pitch that I got from Alan…
Leverage during a pandemic
Poor Alan’s speaking services aren’t in demand right now because of the whole pandemic lockdown. So he pivoted to doing virtual consulting and also…
(wait for it)…
… teaching business people to write to better in a way that lets them leverage their knowledge.
The pitch I got is for a 3 hour webinar on “How to Write With High Impact, High Speed, and High Success.”
Guess how much he’s charging for this webinar?
If you said $1,400, you’re correct.
How many people will pay him $1,400?
I don’t know, obviously. But let’s say it’s 10 people.
And if so, that’s $14,000 for 3 hours of work
Or, about $4,667 per hour.
By the way…
Alan Weiss is probably about 70 years old. And he’s been developing his business for decades.
So maybe he’s not inspiring you to think you can figure out how to leverage your knowledge better.
But what about David Perell?
And a child shall also leverage
David Perell is only 26 years old.
And he’s also teaching people to write. He’s leveraging the same forces as Alan Weiss.
(i.e. knowledge, technology, the internet, and online marketing)
Perell’s online course is called Write of Passage and it sells for $1,500.
He runs it 3 times a year and the last time he ran it he got about 400 people to register.
So he’s making well over $1 MILLION DOLLARS with just that one course.
THAT’s leverage, my friend!
And David Perell damn well knows this.
In this article, he rhapsodizes that we’re “living in the Age of Leverage.” He explains that in this new age:
“People can access your knowledge without taking your time…so you no longer need to sell knowledge by the hour.” Because your ideas are the most valuable currency in a knowledge-driven economy.”
Hmmmmm…
Maybe you start looking for ways to take advantage of these ideas.
The first step is to shift your thinking.
I’m not saying that’s easy, but…
Shifting your thinking vital if you to transform your practice into something that makes you happy and gives you financial security.
P.S. If you want my Ultimate Guide to Technology for Lawyers click here.
