Today I have the great pleasure of hosting Day 6 of the Virtual Blog Tour of author Morgana Rae whose book Financial Alchemy: Twelve Months of Magic and Manifestation launches on Amazon on Monday, January 23, 2023.
Meet Morgana Rae
Early on in my book coaching business, Morgana Rae helped me transform my relationship around money. With Morgana’s coaching, I became confident about the value I offered clients, my income tripled and I found ease with money. Morgana’s coaching truly changed my life and turned a struggling business into a vibrant one.
Financial Alchemy
So, when Morgana told me she was relaunching her amazing book, Financial Alchemy, I offered to interview her and get the word out! In Financial Alchemy, Morgana walks you through her time-tested program to transform your relationship with money by giving the boot to your personal Money Monster of scarcity and wooing a Money Honey of abundance.
(Trust me, this way of relating to money is truly magical!)
We have two parts to today’s interview. In Part I (the video), I interviewed Morgana about her unique perspective on how we repel money and how to transform our relationship with money. We also explored the benefits of independent publishing, how to price your book, book marketing tips, how to best serve your readers and Morgana’s advice for authors.
Morgana Rae on Money, Independent Publishing, Advice to Authors and More
Following the video interview, Morgana also answered questions about how to attract high-end clients plus other tips for coaches, health and healing professionals, therapists and others in helping professions, how to raise your fees (and feel good about it) and more.
Lisa: The first time I met you, at a large virtual conference, you shared your ingenious perspective on how we tend to relate to our money, and how to relate more effectively with our money to create transformation and prosperity. It truly blew me away. Can you share a bit about your innovative paradigm for our readers and what a “Money Honey” is?
A Unique Approach to Transforming Your Relationship to Money
Morgana: Money is the number one excuse human beings give for what we can’t have, do, or be. And I’m not just talking about people in poverty—I come across the same dynamic with very wealthy clients, too. It’s the BIG OBSTACLE and must be addressed FIRST so that you can be free to focus on what really matters: love, lifestyle, and legacy!
I offer a very different approach. My work is Alchemical—turning leaden human experience into gold. We start by uncovering the real root cause of your money drama (it’s never what you expect) and giving personhood to that pain. Then we replace that person with its polar opposite: a new entity that is all love, the “Money Honey.”
Imagine that money was a person worthy of your deepest admiration and affection, who chooses YOU out of everybody in the world! Chooses YOU to be with, chooses you as his (or her) favorite person, and wants to be with you. Imagine money as a person who wants your happiness more than anything in the world, and will tell you what they need from you, so they can stay with you.
I developed a very specific process that I’ve broken down into six steps that I walk you through in my book.
Money Advice for Givers Who Undercharge
Lisa: As a book coach, I work with many coaches, therapists, healthcare providers and people in the helping professions. I often find that these folks are passionate in their desire to help others, but they also often have challenges when it comes to their financial lives. They give and give but don’t always receive as easily. Do you have any specific advice for them?
Morgana: The do-gooders are my people. I understand this tension well. Your desire to save the world and give everything away for free, versus your knowledge that doing this will burn you out so that you won’t be able to serve anybody. How can you save the world if you can’t eat or pay your rent? It all comes down to integrity. We are here to help, not harm. The problem is undercharging is just as unethical as overcharging: you are preemptively judging your client as less capable.
When you have a great relationship with money built on mutual admiration and trust, you’ll start to respect your clients as bigger than their circumstances and capable of coming up with the resources to make what they want to happen. The very act of doing so grows them, too. I’ve found that people get better RESULTS when they invest in themselves. They have more skin in the game, and YOU have more skin in the game, too: the more you charge, the more pressure you’ll feel to up your game to stay in integrity.
At the end of the day, charge what you need to be generous to your heart’s content without sacrificing yourself in the bargain.
So pick your premium offer. For me, this is anything in-person, anything one-on-one. Because the one thing that is limited in life is not money, is not love, is not energy; it’s time!
So the area that, for me, is always very expensive (and always getting more expensive) is working with me one-on-one. However, because I want to help as many people as I can and save the world—like you do—I wrote my book, so that thousands of people have tools to heal themselves. Then just a very few people who must, absolutely must, work with me directly, will invest at the price that is fair for working with me personally so that I can do both.
Pricing a Book
Lisa: Financial Alchemy: twelve months of magic and manifestation is a book or workbook, but it is so much more—a yearlong transformational program. And you’ve priced it as a program, not the typical price of a book. I think it says a lot about not being tied to conventional ideas of what a book is and what you charge for it—that it’s a great value to the reader and therefore costs more than most books, though less than many online classes. How did you decide on the price and what insights do you have to share with authors about pricing their books or programs?
Morgana: Back in ye Olden Days, when my publisher was Office Max, it cost me almost $30 to print my book, so I charged $40 just to make a profit.
People who were using my book were reporting financial breakthroughs in the thousands and tens of thousands of dollars.
One of my favorite clients in the world—she owns a technology company on the other side of the country—had her first quarter of a million dollars sales MONTH on her own, using my book, before I ever knew she existed. She then hired me privately for a year, and in that time, she purchased the company she was making those sales for.
I share that story with you because I was told I was pricing my book way too high when I published the first edition 10 years ago. I kept that price so the people who had been buying it during my Office Max days didn’t feel cheated. The real value is in the RESULTS for my readers. My $40 became a #1 best seller around the world, and my readers buy my book again, and again—for the journal—year after year.
Lisa: I love that because the prices of books have generally not kept up with inflation and yet there is this myth that you can’t charge more than $20 for a paperback and sell many books. You prove that myth wrong.
The Book-Writing Process for a Programmatic Book
Taking a step back, can you share how the book originally came about—your vision and your book-writing process?
Morgana: The reason I created this book is there are a lot of people I’m never going to be able to coach directly, and I want to help as many people as possible. Also, I know from experience, having coached thousands of people, that clients face the biggest challenge after they’ve changed their relationship with money. I wanted to create something to keep everybody on track, including myself. (I use this workbook every day!)
The first section of the book teaches you how to radically, rapidly, and permanently transform your relationship with money. Maybe you’ve been struggling with never having enough. Or maybe you’ve made money and lost it, or money issues have been a problem in relationships. You’ve probably seen injustices in the world arising from greed and the abuse of money. These are all symptoms of what I call your Money Monster. You’ll never have the financial peace and freedom you desire if you’re in a relationship with a Money Monster, so my book focuses on changing that first.
I’ve noticed that once you’ve changed your relationship, a new challenge arises: how do you SUSTAIN this new relationship with money?
I created this book as a daily self-coaching system to first change your relationship with money, and then keep you connected to your new relationship with money on a DAILY basis:
- To keep you moving forward in fun and effortless little steps,
- To help you hear your new, personified “Money Honey” every day, and
- To track your successes, your gratitude, and speak with your “Money Honey” every day,
- To continually increase your magnetism, happiness, and self-worth, as if by magic.
I wanted a place to put together all my best strategies for attracting what you want in every area of your life. These are the things that I do with my private clients (who pay me tens of thousands of dollars), and I boiled them down into an easy system that you can do at home so that you can have miracles in your own life.
Lisa: I’ve got it on my calendar to buy the book again on launch day (1/23/23). It’s so powerful!
The Decision to Independently Publish
You independently published. Can you share about that decision and what you love about self-publishing, as well as any advice about self-publishing?
Morgana: Honestly, I have very specific language and that is 100% intentional and based on my own experience coaching thousands of clients over the years over many years. Other people try to squeeze me into a box and make me sound like a Law of Attraction coach. That distortion does not serve my audience.
Self-publishing gives me full creative control over what I put out into the world. It’s also faster, and I’ve made a shocking amount of money in the process.
Lisa: Creative control is huge! How many copies have you sold over the years and what kind of results do you hear from your readers?
Morgana: Last time I checked was in April of this year. I had sold around 4,000 copies and made $159,000 in sales.
Lisa: That is fantastic!
Book Promotion and Marketing
Lisa: You have a whole campaign promoting this anniversary edition. Can you share a bit about your promotion efforts? What are you doing to promote? How did you sign on partners to help promote? And what are you asking of your partners? Do you have any advice about launching a re-release?
Morgana: I actually enjoy the marketing process, and I’ll tell you why: I have a point of view and a bit of a mission to cultivate and support world-changing leaders to save the world, and a book launch gives me an excuse to get on my soapbox and preach my message in order to empower the do-gooders to prosper so they can do their good works.
To be perfectly honest, I’m not crazy about the whole Joint Venture Partner Launch business model that’s been standard in the coaching and thought leader world for the last 15 years. It has felt exploitative.
That feels very one-sided. Reciprocity and win-win are important to me. I want every partner to benefit from participating. I offered a few different paths to support me via interviews on your podcast or your blog (to spread the word about my launch while also increasing your visibility to my followers), or just daily social media posts (instead of burning out your email list) in the weeks before my launch. Then, to grow YOUR audience, I feature your photo, bio, and best opt-in gift link on my “free gifts for book buyers” page. (One partner who did this on my first launch 10 years ago booked her first-ever high-ticket client this way.)
One more tip: I really try to make all of it feel like a party, at least for me. I ONLY partner with people who are already my friends, people I trust to be a good match for my existing audience.
How to Attract High-End Clients
Lisa: Morgana, you taught me to attract high-end clients for my book coaching programs. And when I say high-end clients, primarily, for me, it’s people who know what it takes to be successful—they do the work, they apply themselves, and they take the coaching seriously. They operate at a high level of creativity and integrity and it’s a pleasure to work with them.
What’s the best way to attract high-end clients?
Morgana: I would ask back, what is your “why” for wanting to attract high-end clients?
Are these the folks you can help the most? Understand the most? Enjoy most?
The reason I’m asking these questions is that if your desire to attract high-end clients is coming out of fear or desperation, it won’t work.
You need to be able to solve a compelling and painful problem for your clients.
Demonstrate the Value for Your Clients
Morgana: So, number 1: go to the value that you provide. The place to begin is first getting really clean about offering more value, a value that is worth much, much more than anything that you’re charging. In my experience it doesn’t matter if a client has a lot of money or not. People will find a way to hire you if you can offer a compelling solution to their problem.
To attract high-end clients you do exactly the same thing that you would do for any client: you get clear and specific on how you help a person, a real person with real problems, and you learn how to communicate with that person in a way that makes them want to work with you and willing to do whatever it takes.
I’ve coached people on every extreme, from the people who have virtually no money to the people who have hundreds of millions of dollars and more. It’s the human being, not their net worth that makes them great clients.
So you need to get really clear on your value and who you help. And if you have a problem that appeals to high-end clients, then you will attract them.
A Matter of Priorities
Morgana: It’s a matter of priorities. My belief and my desire for what is possible for my client has got to be a lot bigger than my self-consciousness and my desire to play small and hide.
In fact, I’m totally cool when I don’t think somebody’s a good fit. I’m relieved. I would so much rather refer somebody to another coach who’s a better fit, than struggle with a client who’s not going to be happy with me.
Lisa: Yes, you taught me that and it’s really stuck with me over the years. It was such a relief to realize that I don’t need—or even want—to sell to everyone. If someone feels my coaching is not a fit for them, there’s no need to convince them otherwise. I want to work with the people who know they want to work with me.
It’s such a different dynamic to come from that place, and I thank you for that.
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Morgana Rae is an internationally acclaimed life coach, speaker and author of Financial Alchemy: Twelve Months of Magic and Manifestation. Widely regarded to be the world’s top Relationship with Money Coach, she has been featured on ABC-TV, PBS, NPR, FOX News Radio, United Press International, and The Wall Street Journal online, and is frequently a featured expert on programs with Deepak Chopra, Marianne Williamson, John Gray, John Assaraf, and T Harv Eker. Named one of 2012’s Top Women in E-commerce by WE Magazine, Morgana has guided thousands of entrepreneurs, artists, healers, and humanitarians to thrive in their purpose, attract more than they chase, and make things happen with ease, flow and synchronicity.
In her book, Financial Alchemy, Morgana walks you through her time-tested program to turn your personal Money Monster of scarcity into a Money Honey of abundance. The book is a self-guided system to help you uncover your limiting blocks to abundance and transform your relationship with money using a SUCCESS FORMULA that keeps you on track and positively “magnetic.” https://www.morganarae.com/book-prelaunch-2023
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