65. Eddie Pinero: How creating value EQUALS WEALTH

season 3, episode 5

Episode: 65

Welcome to Musicians Tip Jar where we talk about musicians and money. Where we live by the late Jim Rohn’s words “you don’t get paid by the hour you get paid for the value you bring to the hour…I’m Chris Webb joined by my co-host and the guy how brings this show that special sauce kind a value, Dave Tamkin.

Eddie Pinero is a motivational speaker who has seen an explosion of success through his Youtube channel and podcast.  He offers a blueprint to those looking for an edge as they navigate their day-to-day lives. With over 200 million total streams, his use of powerful spoken word and beautiful imagery is a reminder to many that they are always one decision away from a totally different life.

Quote of the week

“As you expand your reach and help more people and add more value the financial piece necessarily will increase, it just will.” -Eddie Pinero

From the motivational videos Eddie Pinero creates on YouTube, to his podcast episodes, to the stages he speaks on all over the world, Eddie offers a blueprint to those looking for an edge as they navigate their day-to-day lives. With over 200 million total streams, his use of powerful spoken word and beautiful imagery is a reminder to many that they are always one decision away from a totally different life.

Non-profit of the week

Bohemian Foundation is committed to working with our fellow community members on the care and improvement of our local, national, and global communities.

• We believe that solutions are found by taking new and creative approaches to problems. They seek to build collaborative relationships that are flexible, responsive, and respectful. Bohemian Foundation believes that by working together, they are more effective in addressing community challenges.

• We value imagination, spirit, and creativity. Support Bohemian Foundation by checking out bohemianfoundation.org

Chris Webb: Today, we shine a light on how all it takes is finding what value you can bring to the world for it to open up to anything you could ever ask for. Our quote today is from our guest, Eddie Pinero. Find that crossroads between doing what you love to do, and what can add value to people.

Dave Tamkin: Have you seen the movie crossroads with Ralph Macchio? Steve Vai? Excuse me? What? Oh, my gosh, your weekend just got that much better.

Chris Webb: Well, let's do one more from Eddie's interview. He said as you expand your reach, and help more people and add more value, the Financial Peace necessarily will increase it just will.

Dave Tamkin: This week's non profit is also from Fort Collins, just like last week's bohemian foundation is committed to working with their fellow community members on the care and improvement of their local, national and global communities that believe that solutions are found by taking new and creative approaches to problems. They seek to build collaborative relationships that are flexible, responsive, and respectful. Wikimedia Foundation believes that by working together, they are more effective in addressing community challenges. They have value, imagination, spirit and creativity, support them by checking out bohemian foundation.org. And if you're ever in Fort Collins, check out the music festivals they throw because they're fantastic.

Chris Webb: Let's talk a little bit about that impact, which really is at the center of the reason that this gets you up in the morning, I'd imagine I was looking at some of the comments under your YouTube videos. And it's like you're saving my life. And it's all these incredible statements that you I mean, they must just feed your motivation to continue and expand on this. Can we just talk a little bit about as someone who's been behind all of the speeches, like there must be a lot that you see people do they come to you with problems? And do they do they want more out of you than just the speech?

Eddie Pinero: Sometimes, but I think I think when you are able to connect with someone or say something in a way that really hits the mark for them. I know I've done this plenty of times, like you feel compelled to just say, hey, thank you. And I would say more often than not, that's what I get. It's people telling their stories and just saying this impacted me and thanks. And it's it's so awesome. Because when you're when you're trying to scale anything, I believe in my message, I want to grow my message and help as many people as I can. The reality is when you're on these platforms, people become numbers. And it's awful, but it's the way it works, right? It's like x many views, and you go okay, that, you know, that was relatively successful or wasn't. And in when people reach out, or write messages under videos, it's it really puts things into perspective. It's so incredible. Because you remember why you do it? Again, it's I'm a huge advocate for that simple crossroads of doing what you love to do and doing what adds value to people. You know, when that's reiterated for me, it's like, yeah, so that's,

Chris Webb: Do you come up with these by looking and being like, here's what I'm seeing from feedback from people where people are struggling the most? So I'm gonna write about that, or do you feel like you're seeing a pattern and what people need right now.

Eddie Pinero: Um, what I do is, stay true to like my experiences and the things Like, I, it's the philosophy that if, if it's meaningful to you, it'll most likely be meaningful to someone else. Yeah, not always right. Sometimes Sometimes I swing and miss. But I think, you know, if I try and reverse engineer my message, it's a dangerous game, because I feel like, you know, I want people to feel like they're on this journey with me. And I want there to be that authentic. This is me, talking about the world through my point of view. And so that's really how I go about things. You know, like, last week, I wrote about an axe throwing contest with my friend, writing about a parasite that I saw an article on that makes wolves act bolder in the wilderness. Like, they're just random things that come across. And I think that's the, that's the way to do it. Now, the marketing, what I learned is that's detach that from the marketing that was very hard for me to do, you can call something, anything, right? As long as it's in the ballpark. But it's like, yeah, the content creation, the art that that's gotta be, you know,

Chris Webb: It’s gotta be honest. Right? You've got to feel it. Yeah, exactly. And I do think that that's, that's why I enjoy listening to you so much. And you know, and I say this, honestly, is because and I, when I'm listening to music, I have the same ears. It's like, do they mean it? You know, can they feel what they're saying? And I feel that underneath everything that you're putting out? Can you give us a little bit of an idea of like, what your schedule looks like what you said something very powerful earlier about showing up? Right? We we mentioned that in a lot of different ways, often on the show that if you want to get these results of being getting to a high level, there needs to be a amount of consistency. And there needs to be a certain amount of quantity, right? Like, you can't just get to those results by just writing three songs and then recording those three songs, right? Same kind of thing where you have to have that quantity and that consistency. So what is your schedule like to be able to produce this much content at this much quality?

Eddie Pinero: Yeah, well, well, my disclaimer is that, you know, I love the idea that you are your own experiment. So I'm always dabbling in always trying different things. One thing that's become consistent, I made this change a little while ago. Now, I don't know exactly how maybe a couple months, but like, I wake up, and I write, and I write first thing in the morning, because it seems to me that as the day progresses, I become less inclined to only put it this way, it becomes easier to say, Hey, you don't need to have anything out tomorrow, like he would do it some other day, right. So the first thing I do in the morning is like, get the coffee going, and write and I mean, the writing for a book that I've been working on for a while or a speech slash podcast episode. That's big. And then I'll go on to the patio afterwards and kind of unwind. And that really depends on the day, like I have some apps that I really enjoy that give like quick 15 minute synopsis, what's plural synopsis, and obviously, hundreds of books. And so it'll, you know, sometimes I'll do that sometimes it'll a piece of a podcast, sometimes it'll be music. And then I, you know, come right back in and start doing maybe some of the administrative stuff. So like, in you sort of alluded to this, like, quantity is important. And something that I've been, man, it's been hard for me very hard for me, but to let go of is allowing more hands in the pot. So you know, people creating some of the shorter Tiktok and Instagram stuff, people creating visuals for the YouTube stuff, editing some of the audio for the podcast. And so, you know, there are things that I have to sort of keep an eye on, you know, I spent some time doing that. And then the only other consistent consistent thing that doesn't change as of 545. I've been doing like an interval class or I run so. Well, it leaves it leaves the middle of the day open a little bit to move some things around. But I yeah, I don't sacrifice much. Or there's not much give as far as the morning like, I need that to be writing, relaxing, thinking planning the day. You know,

Chris Webb: Do you leave like your weekends open? Are you someone who values like having that Saturday, Sunday off?

Eddie Pinero: So I am trying to be better at it? And I do. But it's like, right. It's when you love what you're doing? Which I'm sure you guys do. It's like, I don't know. It's not obligatory. It's, it's like fun. It's like you don't want to miss the opportunity to like, come up with something great. The thing with quantity quantity. The thing with writing every day is like, sometimes when you least expect it or do you think it's going to be trashed? It ends up being some of the best stuff, you know, like it's talked about in the War of Art by Steven Pressfield. It's like when you just sit Sit down and write and there's no other questions. Even when you're not feeling good or inspired, sometimes your best stuff pops out. So it's almost like I owe it to myself, you know, to make that happen. Yeah,

Dave Tamkin: The War of Art by Steven Pressfield. I have the audio book. And I've spun that at least seven times. It never gets old. It's perfect.

Eddie Pinero: If you're a creator, you have to listen to that.

Chris Webb: You said something also that resonates with me about you had to let go of some control? Yeah. And I do think as we grow, we find ourselves that's almost just as hard as showing up to be consistent with creating is letting go of certain things. What, what are some other examples of things you had to give up? Even if it's bad habits? Is there anything you're willing to share about? Like what you've had to give up? In order to grow? Yeah,

Eddie Pinero: I mean, it depends what category I mean, I can talk to you as small as like, the editing of audio, where I'm like, Ah, I don't want to let that go to, you know, girlfriends, that it's like, you know, I can't feel like I'm looking over my shoulder when I go on my phone to respond to messages or postings, or, like, this is my world. And I love it. And it's, you know, if it feels like an ultimatum, I can't. And, and that's just, I mean, that's a light thing, you know, but there's been a few of those points where I had to make tough decisions, like, how much does this brand and business mean to you? You know, or going out? Like, I have a decent social life, but it's no, I mean, I live in Miami, I could be doing the damn thing out there. And it's just that's not, you know, I don't do that. So, yeah, when you really want something, you definitely do have to give up some of that other stuff. In terms of creative control, you know, someone once told me that someone else getting it 70%. Right. But allowing you to scale is better than you getting 100%. Right. But it taking all day, it's hard to get your head around, but it starts to make sense, you know?

Chris Webb: Yeah. Especially when it's increasing your quality of life.

Eddie Pinero: Right? Yeah, exactly, exactly. And that lets you do more, I don't know, how many of your listeners will relate to this. Or if it's sort of a unique thing, I'm not sure. But like, you know, something I've grappled with as someone who is whole brand and businesses online, is I haven't put my face out there as much as I could have, in terms of like, lives in terms of like, you know, talking heads stuff, it's like, I like sending the message and putting it out there. And if it's behind the roll, or whatever it is, like, that's good. The thing is, once I started to step in front of the brand, again, that was another huge boost, because people can relate to you people want to relate to people. And so, you know, when I'm I'm not editing audio, when I'm not running around with the camera or chopping up video, or, you know, doing some of these things posting, it allows me to interact with people that that care about the message and want to hear from me. And so that's that's a huge thing.

Dave Tamkin: I'm going to steal a question from Chris here, just because it seems like it's a good segue, because you mentioned being able to scale, what are some of your like, key mindsets around money and how they have changed over the years through this process.

Eddie Pinero: It felt like something to me that was, you know, precious, and like, scarce, and like I had a very, I don't know, I saw it, I was looking at it the wrong way. Like when you start to scale and realize how big the internet is. It feels like an unlimited resource to me now. Like, I'm getting that hockey puck thing that's like, you have the formula that works. Now you need to get it to as many people as possible. Because again, like the beauty of YouTube, and podcasts and Spotify is, you know, I used to say it's marketing, right? It's free marketing, like people ask, how much can you make on YouTube? And it's like, who cares? Right? The point is, it's the best marketing you can do. It adds credibility, it being dropped in front of strangers who care about what you have to say. But once you hit a certain point, that does matter, like that does become life changing, you know, and so it's sort of playing both worlds. It's understanding that, you know, these podcasts are bringing value, but also, you know, they can provide the type of revenue that allows you to reinvest and continue to grow and grow and grow. And it's there's this feedback loop. That's huge for artists.

Chris Webb: Yeah, it's interesting that you said something that I've heard so many times, which is that first, like your mindset about money is is wrong. And you can see that clearly as you've gotten to the level that you've achieved, then, but it's really hard at the beginning to think of, you know, to avoid a scarcity mindset when you're getting into such a new territory. worry that you've never, that you're putting yourself all out there for right? It's really a tough thing to do.

Eddie Pinero: Yeah, because pragmatically, it's scary. I mean, when you don't have a lot, you have to be a lot smarter with it. You know, like I, like I said, it took me a while to get to the point where I felt like I could invest in myself. I mean, I was spending five, six hours, sometimes a full day composing background music, because I couldn't license stuff. And it's like, I learned a lot. And I needed to do that. But you know, as you continue forward, you get to the point where it's like, okay, that's crazy, that's a full day, think about what you can do with that, you know, you can license a song for five bucks. So, you know, you start making these little adjustments as you move on. There's a correlation between money and value, that you can't forget, like, as you expand your reach, and help more people and add more value, the Financial Peace necessarily will increase, it just will. And so you really have to look at the long game, while being tactical and smart and reasonable, you know, at the beginning, because yeah, the reality is, things will be tight.

Chris Webb: I think that because you went through this fear and achieved the success, your message becomes so much more powerful for us to to receive when we need to hear it, you know,

Eddie Pinero: I get it. Yeah, I mean, there's been a video I have in mind, I have a certain number I want to hit on YouTube and in the bank, right. And then, and this is not pretentious at all, again, like I've dragged through the mud for a long time, right. But what I want to show specifically, is 2014 to 2021. I either got by or made incremental. incremental gains, right. And then so within the past year and a half, my income has probably 20x. My YouTube is, I mean, it's like truly bowl hockey puck, right? YouTube is going through the roof, Instagram, Tiktok, all these things. And it's like, this is what I talked about, like dancing before the music place seeing something before it's there, you have to, and the reason you have to is because no one comes up to you and comfort you and says, Hey, kid, like that song that you have in your head, it's going to be platinum someday, or hey, this and I know you can have a successful brand, like no, you have to be the idiot, that that that understands when no one else does the crazy person that knows that. You know, you're signing up for this journey, that's very doable. But no one's going to understand until they see it. And so yeah, to your point I do, I do want to show that like, you know, with receipts, I feel like that'll be more more powerful. But I'm waiting for a very specific benchmark. And then, you know, I want to I want to show people

Chris Webb: well, and so often the craziest musicians are the ones that succeed too, because they would call them crazy, but they believe in themselves so strongly, right? You know, I don't know how you feel about all this. But I'm a big believer in manifesting. And I believe that part of that is this idea that we have to believe it before it's happened, we have to be 100% behind it, and accepting that it's already going to occur in order for the biggest things to actually happen.

Eddie Pinero: That's so true. That's so true. I've been googling and I cannot find for the life of me the origin of this quote or what it was originally, but like some of life's best accomplishments were carried out by people to ignorance of the odds. Like they weren't thinking about anything, but like, they knew that they were the ones who are gonna do it, regardless of whether it's possible or impossible. Like there's, and by the way, like, it's easy to say like, it's very easy for me to say it. It's different when you feel like you're going out on a limb creating things like it's embarrassing, or it was for me to be putting these things out and having no one care, like my immediate family, my grandmother liking them, and no one giving it the attention is embarrassing to go to a bar and be like, Hey, what's up, I'm Eddie, like, I have a cool YouTube idea like that. It's just, it hurts. We've evolved to want to fit in with society. We don't want to stand out. We don't want to be the guy that's doing things different. And so understand that. It's the cost of admission. It's sucks. It's brutal. But it's it's, you know, the price you have to pay. And if you don't want the potential upside of elevating yourself to that place, fine. Walk away, right. I mean, a lot of people are very content, not taking that path. My argument is that's where the good stuff is in life. And that's where people are energized and chasing that purpose and excitement and throwing the covers off in the morning. And knowing that like today will be what you decide to make it in. So if that's for you just understand that yeah, the by the lack of validation for X many days, weeks, months and years is the cost, but it's worth it.

Chris Webb: it since we're a financial focused podcast for musicians. Are there any rules, financial rules that you follow? After speaking about all this growth and all of this, these methods in which you've achieved this? Are there things that you still do? Like, I personally think that I will budget until the day I'm till I'm caught, because I just, I find so much value in that, is there anything like that, that you've still that you find are still valuable for you to do financially?

Eddie Pinero: I would say, I mean, there's a few things that like I've learned along the way, like, it's always take, take some an investment, whether it's an index, fund, whatever. But like, again, like my as, as I'm seeing and experiencing more, I'm asking different questions. And so you know, where I'm at right now, it's like, you know, if I put this chunk of money on an index fund, and it grows 8%, over the next X amount of years, that's great. What would that do? In my business? That could 1020 30 40x? Right? It's like, that's, so like, that's sort of where my head's at. Now. Yeah. But it's, you know, the vast majority of things, it's live as frugally as you can, like, there's no need, like everyone here does to lease this multi, you know, however many $1,000 car like you just focus on you, and focus on growing the brand and not needing to tell this story that may or may not be true to the world with your purchases and your extended like, stay the course. You know, that would be probably the biggest thing.

Chris Webb: You'd be surprised how few people do that in the music industry, when they, when that's what they need the most.

Eddie Pinero: Isn't that funny, though, like we run from the stuff we need the most, because it's, yeah, it's sort of unconventional. I remember the first time someone said that, to me, it was it was during that March, I think it was 2021, where the stock market tanked. And I was like, you know, talking to a buddy of mine, and I'm like, you know, this, maybe this is the spot like, I'm going to take some and throw it into an index. And he's like, you could but like, what would that be? You know, if you grew your YouTube audience 30% Or had better quality or moods, you know, you get the point, like, put it in different places at marketing, advertising, stuff like that.

Chris Webb: All right, so our last question that we asked everyone, which I know you're gonna have some good answers on is what book recommendations that you found maybe over the last year, that you'd recommend our audience knowing that what we're trying to do is help people be more intentional with their career and their finances.

Eddie Pinero: I have a few that I usually suggest. So the first one is Essentialism by Greg McCune, and that to me like there are a few books you read that change the way you think big picture. And so when you think about success, or growth, or you're, you know, you're a musician, sitting down with the world at your fingertips, you think, what can I gain? What can I get what will help me and Greg McCune says, No, stop, ask yourself, What's in your life that you don't need that you can cut away, we need to simplify all this stuff going on. You need less from like literal, tangible cleaning out your closet, the things in life that just create clutter, because success in anything takes extreme focus. Robin Sharma he's like you can you can be distracted. Or you can do incredible things, but you can't do both. And so that was that was the book that like, boom, okay, let's streamline this baby. that I like, The Obstacles is the Way by Ryan Holiday. You know, just sort of a beautiful reminder that the challenging thing is most of the time where we need to go. It's where our body physically pulls us away from but where we need to go. And then another good one, I think for musicians, entrepreneurs creatives, is The Martian, which everyone's seen the movie probably with Matt Damon, but the book is absolutely incredible. Because it's about this guy in on Mars in a tough spot fighting for his life. And bad thing after bad thing keeps happening. And his mindset is okay, well, here's the reality of the situation. What can I do to just stay alive one more day? What can I do to get to the next thing, and the next and the next all with like a witty sense of humor. And I think it's a great metaphor for life throughout the entrepreneurial jaunt we're taking. So let's start with those three.

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1. What is one thing you can do today that invests in yourself so that you can be a better you and in return give more to the world around you?

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As always, Thanks for joining us and remember there is already enough for everyone, you just need to know how to get it.  Until next time, on behalf of Dave Tamkin and myself, Chris Webb. Stay happy, healthy and wealthy.  Money is simply a part of the rewards you get for adding value to the world, so, make your message valuable.This is Musicians Tip Jar

*Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax legal business or financial professional for individualized advice. Individual results are not guaranteed and all discussed strategies have the potential for profit and loss. Those are operating on behalf of musicians Tip Jar LLC exclusively.