It can be difficult for entrepreneurs to determine how much they should charge for their offering in the marketplace, and many end up charging either too much or too little. Dan Sullivan and Jeff Madoff discuss the factors that affect pricing and how good entrepreneurs go about it very differently from bad entrepreneurs.

Make Sure Your Price Is Right

Dan Sullivan, Founder and President of Strategic Coach®, and Jeffrey Madoff, Founder and CEO of Madoff Productions, find it really easy to talk about anything and everything. In their conversations, whether they agree or not, there’s a mutual respect, a love of exploration, and a shared belief in the importance of context. Dan and Jeff’s shared interest in entrepreneurship, value creation, technology, and branding will undoubtedly lead to fascinating discussions on all of these topics and more.

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How can entrepreneurs build a high-performing team that operates like a well-cast theatrical production? Evaluate candidates not just for skills, but for their ability to work seamlessly with your existing team. Put together a cohesive group where each member complements the others. By approaching team-building through a theatrical lens, you create a harmonious company culture that delivers a captivating performance for your clients. In This Episode:* In theater, casting is about creating an ensemble where each member fits in and complements the others.* Hiring is exactly the same. It involves not only assessing individuals' skills and experience, but also evaluating how they fit in with the rest of the team.* It’s crucial to consider how someone interacts with others and whether they contribute positively to the overall team dynamic.* Casting instead of hiring also ensures that team members are aligned with the organization's mission and vision.* In both theater and entrepreneurial settings, team members have a significant stake in the success of the production or business.* Casting involves an ongoing process of improvement and refinement.* Establishing relationships based on value and trust is crucial in casting.* Team members must trust one another and the leadership to create a supportive and collaborative environment. Resources: Learn more about Jeffrey Madoff (https://madoffproductions.com/) Learn more about Dan Sullivan (https://www.linkedin.com/in/dansullivansc/) and Strategic Coach®

Casting Not Hiring

Jeffrey and Dan dive deep into creativity, innovation, and the intricate dance between good business and exciting innovation. Inspired by Dan's quarterly book, Everything Is Created Backward, they discuss how integrating existing technologies and ideas to create something entirely new can completely disrupt the market and lead to record-breaking profit. In This Episode: * There’s a permanent tension between creative people and organizational people (business executives).* Most creative people are not good organizational people.* Creatives are focused on innovation, while executives are focused on finances and risk aversion—and furthering their careers.* This approach often stifles innovation.* Creatives are also subject to immediate public scrutiny. Their work is usually under the critical eye of audiences and critics.* Executives, by contrast, are evaluated based on stock market performance and long-term organizational success. Their reviews are reflected in corporate outcomes.* Successful partnerships, like that of Brian Grazer and Ron Howard, showcase how creative and organizational individuals can collaborate effectively to create engaging content.* In order to bridge the gap, creatives need to better package their ideas to highlight the business potential to financially-minded decision makers.* Businesses, on the other hand, need to be more open to creative, potentially risky ideas that could pay off big time.* Recognizing your core business focus is what drives long-term success.* Major business innovations often come from combining three existing components in a new way rather than from creating something entirely new from scratch.* Large companies sometimes buy promising start-ups, not to integrate their innovation, but to shut down potential future competition. Resources: Personality: The Lloyd Price Musical (https://www.personalitymusical.com/) Learn more about Jeffrey Madoff (https://acreativecareer.com/)

Bridging The Creative-Business Divide

Dan and Jeffrey reveal the psychological complexities behind why some people feel like frauds despite their achievements, and how self-doubt can be a significant hurdle for entrepreneurs. If you’ve ever had the nagging suspicion you were fooling everybody into thinking you’re more competent than you are, this episode is for you.In This Episode: * Jeffrey and Dan define imposter syndrome and discuss how common it is among entrepreneurs and other successful individuals.* Most entrepreneurs will struggle to recognize their own journey of self-creation.* Jeffrey and Dan explore the role of ambition and self-measurement in perpetuating imposter syndrome, distinguishing between internal growth driven by ambition and external validation sought through imitation.* They also share the importance of cultivating self-confidence over self-esteem, emphasizing the need to embrace your past achievements as stepping stones toward a healthier mindset.* Drawing from personal anecdotes and philosophical insights, they offer a refreshing perspective on navigating imposter syndrome and overcoming societal pressures fueled by social media. Resources: More about Jeffrey Madoff (https://madoffproductions.com/) Dan Sullivan (https://www.strategiccoach.com/our-team/#/people/dan-sullivan/) and Strategic Coach (https://www.strategiccoach.com/programs/)®

Overcoming Imposter Syndrome And The Psychology Of Success

What makes a movie great? And why are some movies timeless, while others are forgotten? Jeffrey and Dan delve into the essence of what makes a great movie story, discussing the magical and timeless qualities that allow characters and narratives to resonate across generations.In This Episode:* They discuss the timeless allure of classic stories and the underlying magic that makes them perennial favorites.* They explore the intricate process of creating compelling characters and weaving them into captivating narratives.* Insightful discussions on the balance of courage and commitment necessary in good storytelling and its impact on audience reception.* They navigate the tension between creativity and profit, uncovering the unpredictable nature of crafting timeless tales and the courage it demands.* The conversation touches on the storytelling legacy of movies like Casablanca, highlighting the unexpected success of some films and the distinction between stories that resonate and those that are soon forgotten.* Jeffrey and Dan also explore the significant impact that casting has on a story and the challenge of breaking out of being typecast, referencing actors like Sean Connery and Johnny Weissmuller.* The dialogue expands to discuss the influence of Canada in the film industry, highlighting the significance of certain cities like Toronto and Montreal and the dollar-driven nature of film production.* Jeffrey and Dan share insights into the mysterious nature of creativity, discussing the impact of commitment and courage in pursuing new projects and facing public reception.Resources: Personality: The Lloyd Price Musical (https://www.personalitymusical.com/)Learn more about Jeffrey Madoff (https://acreativecareer.com/)Dan Sullivan and Strategic Coach® (https://strategiccoach.com/)

The Magic Of Creativity And Courage In Storytelling

While a great many things are different than they were, there are certain principles and ideals that people are always striving for. Dan Sullivan and Jeffrey Madoff explain what’s changed since they were kids, and share some new tricks and strategies they use to achieve their goals. In This Episode: Decades of live experience create an ease of performance and an ability to create on the spot. Having fewer choices meant you ended up paying attention to something instead of flicking through the channels. When you’re in front of a live audience and it's not going well, you’ve got to be agile enough to both take the hits and be able to come back on top and recover. Your strongest permanent impressions are made when you’re young. It’s hard for a fan to get really attached to a team when any player can suddenly be gone. Being an entrepreneur is a life sentence. An entrepreneur’s career can last as long as they want it to. A lot of companies end up losing the pride of the family mission. Quality is the smartest business plan. Resources: Learn more about Dan Sullivan and Strategic CoachJeffrey Madoff’s production company Madoff ProductionsCreative Careers by Jeffrey MadoffThinking About Your Thinking by Dan Sullivan

Make Sure Your Price Is Right

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