#267: The million dollar mechanic
Getting paid for the value you provide is more than just a price
After spending $10 Million on new factory automation, the CEO wanted to have a huge ribbon-cutting ceremony. The automated line was going to be able to save the company millions each year in labor, quality, and packaging expenses. They will have their payback in months, if not weeks.
The CEO invited all the dignitaries in the area to unveil this engineering marvel. After 2-hours of speeches and patting themselves on the back, they were ready to demonstrate their investment. The CEO pushed the button, and you guessed it, nothing happened.
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The CEO stood stunned while the operations manager ran around to ensure everything was plugged in correctly and the line was full of product. After double-checking, and not see anything wrong, he gave a thumbs up sign. The CEO pushed the button again; the only sounds you could make out were the groans and a few chuckles from the crowd.
The plant manager made a quick phone call to one of the contractors that helped design and implement the line. The chief engineer happened to be in the audience and came forward.
"Don't worry; we'll have this running in no time," he told the crowd.
He made a slow trip around the massive machine with a crescent wrench. Every so often he would lean over to the machine and put his ear to it, intently listening. Continuing his stroll around the machine he suddenly stopped, whipped out a Sharpie from his pocket, and placed an X on the machine. Taking the wrench in his right hand, he slammed it down on that specific spot. Without any further delay, the machine started humming along, the line started moving, and the automation was operational!
The Chief Engineer took out his notebook, scribbled out an invoice for the CEO, and started to walk away. Startled at the amount, the CEO yelled back to him, "$100,000 for repairs, and all you needed was a $50 wrench to hit the machine?"
Without missing a beat, the engineer replied, "$50 for the wrench, $99,950 to know where to use it".
Why am I telling you this story?
I have decided to place a dollar value on The Kole Hard Facts. Although I am not using a $50 wrench, I believe I know where to swing to get my reader's motor running.
I have been writing this blog in one form or the other since 2009, and as you can see by the number, we have published hundreds of free articles. Over the years, I was writing once or twice a month, but since December and moving to Substack, we have increased the output and plan on additional features.
What will the investment be to continue receiving the Kole Hard Facts?
We had a great response from our survey last month. Therefore, we set the price at the average price that you were willing to pay according to your responses.
The average response came out to be $6.75 per month. As a marketing guy, I have set the monthly recurring amount to what the market is willing to pay.
However, as a sales guy I need to offer you a deal. Am I right? So, here you go!
Leaders go first
If you are one of our first subscribers, we are going to offer you a lifetime discount of 25%! All you have to do is subscribe before November 15th, and you will be charged $5.06 per month!
Receive 25% off forever if you subscribe before November 15, 2022!
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With the discount of 25%, it’s the price of a fancy coffee per month!
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We have established a special rate for Founding Members
For those of you that may want to participate in future Kole Hard Facts publications, we have established an annual Founding Members Rate of $250.
For this, you get all of the benefits of a paid member, but we will also offer you:
The ability to Guest blog on Kole Hard Facts once per quarter to our entire audience (2,000 emails, 1,700 LinkedIn and Twitter Connections)
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We will also offer our Founding Members the opportunity to be interviewed in our Monthly Interview series that is planned.
This will help us kick off that feature for all of our paid members.
And before you ask; no, you do not receive the 25% discount on this.
Your subscription is an investment in continuous improvement
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The paid accounts will immediately begin to receive the following:
The Kole Hard Facts Blog Newsletter twice a week each Tuesday and Thursday morning at 7am at least 48 weeks per year, allowing a little time off for good behavior.
Each blog will also be available as a Podcast for paid members only
A weekly ‘Moments with Mike’ Video Blog, tying the teachings and lessons of the weeks previous blogs together to reinforce the content of those articles
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During football season, you will continue receive Isaac’s complete list of NFL picks of the week, and no, there is no thought in expanding to other sports at this time
Complete access to the archived blogs over the past 14 years
Planning, but not yet promised
Monthly Video Podcasts, interviewing Founding Members, thought leaders in sales, marketing, leadership, and those that can add value to you
Monthly recorded webinars on leadership principles
If demand is high, we will turn these webinars into events you can attend virtually, and be part of the audience
Free Subscribers will continue to receive the following:
An introduction to each posted article, video, or interview with the ability to subscribe to continue reading
Isaac’s NFL Pick of the week, but not the complete list of picks (Isaac is 11-3-1 after 2 weeks)
Occasional articles that we believe should be shared with everyone
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Just one more thing - FREE - ebook!
Once you subscribe as a paid member, you will receive a welcome email. In it you will find a link to download my e-book; PROFITS, Your Seven Letters to Success published, 2010.
For those of you that do not subscribe to the pay site, thank you for reading as long as you have! You will continue to receive an occasional posts and the guest blogs.
In the meantime the lesson in today’s introduction is for you as well.
Make sure you properly determine the value you provide to your clients and customers. Price is more than a number, it is the end result of many variables!
Look to future blogs for that formula!
Setting the proper price is not easy!
It’s hard work today, but it will lead to a more profitable future!