The Profit Clinic

Our Pricing Policy

Our pricing policy for training is simple...

Here's why...

1. We separate the principles — the KNOWLEDGE (what and why) — from the implementations — the SKILLS (who, when, where and how).

2. At our seminars we give away the knowledge FREE — because it's effectively useless without the implementations.

3. We sell our implementation workshops and Master Classes (advanced workshops), where the SKILLS are taught and STRATEGIES for implementation are developed, as well as value-added services and products to help clients implement those strategies.

We've adopted the same formula for our web presence. Give away the knowledge and sell the implementations. We only discovered and articulated that knowledge. We didn't create it. It already existed, one way or another. We can't lay claim to natural principles and laws. (As Albert Einstein said, "all truth is revealed.")

But we created those practical, useful implementation strategies, tools and methodologies and adapted others. They're our intellectual property. We're entitled to be compensated for sharing them.

We give a written guarantee with our free seminars — you cannot pay for your own attendance, even though it costs money for us to present them. (Advertising, venues, equipment hire, catering, travel, accommodation and meals, workbooks and resource notes, administration, staffing, etc all have to be paid for.)

So how can we afford to just give it away?

The premise is simple. We don't. Someone else has already paid for you to attend. If you attend, and gain a worthwhile benefit, then you're welcome to pay for someone else, anonymously. But YOU decide if and when you'll pay — and how much!

We've used this approach successfully since 1991. (It terrifies the National Speakers Association!)

Here's an example...

In one recent program, we invited 30 people, all opinion leaders in their particular industry, to a 2.5-hour seminar and invited them to refer and pay for others if they found it of value.

Only twelve of them actually attended, but at the next session 32 attended (with no promotion by us), 186 booked for the third session, then nearly 400. Within five sessions we had booking requests from close to 8,000 people. About one third paid enough to allow the cost of two or three more people to be covered for each session.

The seminars are a marketing strategy that recovers more than its cost. But the implementations — our workshops, Master Classes, books, multi-media programs, consulting, coaching, etc — are where the real usefulness lies, and for which seminar attendees willingly pay.

Our knowledge give-away creates genuine excitement. People recognise the VALUE of the knowledge they gain. That, in turn, creates interest in, and desire for, the really USEFUL stuff — the implementations — because very few people can create their own.

Many are too strapped for time, and prefer to have someone else do it for them. But they need to be educated to realise the true value of what's on offer, and that's where the freely-available knowledge comes into play. Knowledge really does want to be free because it's not really worth anything on its own.

People who refuse to give away information and knowledge for fear of loss fail to understand the underlying principle that, in fact, they have nothing to lose. Knowledge is useless until it's applied. Owning a book does not make you smarter. Reading it doesn't, either. It just makes you more knowledgeable.

Applying what you've learned is what makes you smarter.

Don't get me wrong here. I'm not suggesting that knowledge has no value. But value and usefulness are not the same thing. And most people, in business at least, prefer to pay for usefulness.

As I used to tell my students when I was an academic... "an education has value for its own sake. Just don't expect to make a living from it. It's what you DO with that education that will make you rich."

 

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©2002 The Profit Clinic. All rights reserved. Updated 21 December 2002.