Comments on: How Much Should the Empire Building Kit Cost?

By: Justin P Lambert

Justin P Lambert — Sat, 03 Apr 2010 03:09:34 +0000

This is something I’ve wanted to recommend to many other authors, with the caveat that I can’t say with any experience what the viability of this idea is from a financial standpoint, so thank you for the opportunity to throw it out there:

Why not supply an “inverted guarantee”? Provide access to one or two of the case studies and a “Table of Contents” of the 365 daily tips, all for free. Then, after tips 1-7 have hit their inbox, send a purchase link with options to buy the whole thing, another week’s worth of tips and another case study, or just leave with what they already read… Obviously, the best value would be for the whole thing, but let the consumer decide at what point they’re ready to commit? Then, there’s no hard sell, and we get to test drive the product first!

That said, I’d go with $149 for the full product, or $5 for each week (with case studies peppered in at a reasonable rate like one every three weeks, or whatever.)

By: Christy

Christy — Sat, 03 Apr 2010 00:09:03 +0000

Sorry, just another thought on the guarantee… I’d much rather have a – “If this doesn’t work for you shoot me an email, tell me where you’re stuck, I’ll see if I can help. If not, I’ll give you your money back.” But that depends on whether or not you have the time to answer emails like that.

By: Ridlon Kiphart

Ridlon Kiphart — Fri, 02 Apr 2010 21:39:52 +0000

Lastly Chris, it sounds like you get pounded from people that object to you charging anything for your work. I’ve seen this in several of your posts so I’m guessing it bugs you. My guess is that it does so because you provide so much value and give away so much of your time, energy, talent and heart that it’s an a-whoop when you get an email like that.

There is nothing more noble in this world than making a decent living by doing something we passionately love that genuinely helps a large number of people.

And that is exactly what you are doing my friend.

Update: OK, one last comment and then I’m really done…. but I can’t stand by and not say something when people say all they can afford is $25 or $50. Be real people. You spend that much or more on your cell phone bill, a pair of jeans, a round of drinks, dinner, cable bill or a tank of gas.

Life is all about choices and choices are all about priorities. We know what our and others’ true priorities are only by looking at the choices that we have made. $100 too much money for you for the EBK? Well then you’re just not that serious about making a change are you?

By: Ridlon Kiphart

Ridlon Kiphart — Fri, 02 Apr 2010 21:34:52 +0000

Hey Chris, pricing psychology is interesting isn’t it? Here a some rapid fire thoughts:
- don’t ever price something a certain way because that’s how everybody else does it.
- price doesn’t necessarily reflect somethings true value.
- price is more than just about an amount. It says something about your product.
- you’ve cornered yourself a little with a history of dramatically underpricing your products relative to the value they produce.
- disregard the previous statement because that can always be changed.
- who is your target audience? That will make a difference as well.

Some more concrete ideas? $199 for the intro product – $499 for the high end. Even better, do a multi payment plan. Even better, make it a subscription based or monthly service since you are providing updates and ongoing support and information. These ideas effectively lower the price point and make it more palatable.

By: Kevin M

Kevin M — Fri, 02 Apr 2010 20:29:03 +0000

Perhaps you should just let people pick what they will pay – a la Radiohead.

I’d price it at $399, that eliminates people that aren’t really interested but will buy it because they’re a fan. Those are the people that usually require the most hand-holding as well. If you’re in for that, by all means lower the price, but that means less time for the serious folks.

By: Randy O

Randy O — Fri, 02 Apr 2010 17:52:37 +0000

Interesting responses to a tough question. I think you have two schools of thought. Group one: “it’s a book w/ ideas.” Group two: “it’s consulting specific to me.”

I am a CPA (tax practice). I own my own practice w/ 1000+ clients. I don’t exist b/c of the product I offer (a tax return) but rather my expertise in the area of tax law and saving my clients money while (hopefully) helping them make more.

Group one above is setting the price below $100 and rightfully so. Group two is setting the price much higher. I agree w/ group two IF I am truely getting consulting. Consulting is specifically geared towards an individual client not a one-size-fits-all product. I’m not convinced EBK is consulting.

Ultimately, I’m an emperical data kind of guy so I want to know something works b/4 I spend $$$ on it.

For these reasons, right now I’m in group one. But I am intrigued!

Question: Will the EBK address “key dropping” for businesses both w/ employees and w/out?

By: Raye

Raye — Fri, 02 Apr 2010 17:44:43 +0000

I have been following you for awhile your work is excellent and of great quality, I’m thrilled you are launching a new product and book this year. Pricing for EBKs should be no lower than $500. This launch is probably a major turning point in some way for your business, so go BIG! People want what you have to offer and there will be an audience happy to pay whatever price you decide to charge.

God bless you Chris!

By: claire

claire — Fri, 02 Apr 2010 17:36:10 +0000

Hey Chris,
I think it’d be cool if you had upgrade options for people who buy the basic package but decide later they’d like to know more from the mid or highest levels. It’d be awesome if the upgrades were just the difference in price between kits, but if that would mean a lot more work/hassle for you, I’d understand adding $5-$10 for upgrades.

As someone new to developing a business, I’m very conscious of where I put money in an effort to build my empire. The quandary becomes what class or resource or… will give me a good return for my investment? I’m torn between understanding you need to make a living and what I can afford. Gut says: $59-$79 for basic, $79-$99 middle, $99-$149 for top of the line.

If after a year of following the EBK steps, a lot of people who bought it are making good livings based on it, then you could raise the prices by $100-$300.

By: Rick Kitagawa

Rick Kitagawa — Fri, 02 Apr 2010 06:51:29 +0000

I think you should definitely be charging more than your other work, but I also think that having an option to pay monthly (or quarterly, or some way of making payments) would be super cool. Additionally, I think it would be kind of neat and fun to offer a lower priced-option that has buyers sign a contract that if they do make a $50k business in one year that they have to either pay you 5% of their net profits or donate that 5% to charity.

By: Ezgi

Ezgi — Fri, 02 Apr 2010 06:48:25 +0000

I agree with Greg Blencoe’s thoughts. You should definitely be making money.

I would love to buy this kit when it is out and try for myself – but currently I’m an intern and I’m not getting paid a dime. So I probably won’t be able to afford anything more than 25$-30$ at the moment(Remember that the international audience has to convert $ to their own currency too).

Since there are 3 levels as you explained, maybe you could start them of affordably and then increase the price?

Another thing that comes to my mind is setting a deal. You could set a standard price and a deal version. The deal would let people buy it cheap but when they complete the year they would pay you accordignly depending on their business? I think it makes sense – I want to pay you but I don’t have any money, so if I succeed in this business, I will be able to thank you properly. You may think people would give up, but maybe putting some conditions in the deal like reporting what they’re doing could work.