The Engineers Chalk Mark

How to get paid what you are TRULY worth. The Engineer, The Elephant & The Peg.

So the story goes…

There once was an engineer with an exceptional talent for fixing mechanical problems. After loyally serving his company for over 30 years, he happily retired.

Years later, the company contacted him about a seemingly impossible issue with one of their multi-million dollar machines. They had tried everything and consulted everyone else, but to no avail.

In desperation, they called on the retired engineer who had solved so many of their problems in the past. He reluctantly accepted the challenge. After spending a day studying the huge machine, he marked a small "x" in chalk on a particular component and stated, "This is where your problem is."

The part was replaced, and the machine worked perfectly again. The company later received a bill for $50,000 from the engineer. When they demanded an itemized accounting of his charges, the engineer responded briefly: "One chalk mark: $1. Knowing where to put it: $49,999."

Charging What You're Worth

I share this story with our clients who aren't charging what they're truly worth.

Many are stuck charging low prices because they're afraid to set higher rates.

It's important to note that we only work with people who can deliver on their program's promises – those who have the skill set, like our engineer, to help their clients achieve desired outcomes.

We're not talking about overcharging, but simply charging what you're worth.

Recently, after a coaching session about charging appropriately, we had a client increase their program price from $575 to $3,500.

The result? Clients loved the program more, were more involved and dedicated, and achieved better results.

The challenge was that our client hadn't recognized the true value of their service. They could only see the "hard" benefits (e.g., hours spent) rather than the "soft" benefits (what the client really achieves).

For example:

• Hard benefit: Losing 30 lbs in 3 months with fitness coaching - $3,000

• Soft benefit: Having your spouse say, "Hey there handsome, you look good in that shirt" for the first time in a long time? - Priceless!

Now our client is more energized and has more time for things they never had time for before. It's a win-win situation!

Overcoming Mental Barriers

So why do people struggle to charge what they're truly worth?

There are several reasons, but the primary one often relates to their belief system.

The following story illustrates how beliefs can affect our actions:

The Elephant and the Peg

Elephant keepers have an interesting way of keeping their elephants from escaping.

They tie them to a wooden peg with a rope. This seems illogical since such a rope couldn't possibly hold a grown elephant. But any elephant keeper will explain:

"When a baby elephant is born, it's tied to a peg with a rope. At this point, the rope is strong enough to hold the elephant. The baby quickly learns that trying to escape is futile. This learned belief stays with the elephant, even as it grows and the rope becomes too weak to hold it."

Like these elephants, we often form beliefs that might be useful at first but hold us back later in life, long after the original reasons are gone.

As Anthony Robbins observes, "Beliefs have the power to create and the power to destroy."

For Star Wars fans, consider the scene where Yoda uses the Force to lift an entire crashed ship out of a swamp.

When Luke Skywalker stammers, "I... I don't believe it," the Jedi Master replies, "And that is why you fail."

Once you start charging what you're truly worth, you'll never go back. Many clients say, "I should have done this years ago. Do you know how much time and money I've lost by not implementing this sooner?"

The Next Step: Lead Generation

Having a lead generation campaign that brings in a consistent flow of ideal, pre-qualified clients gives you the opportunity to have conversations with the people you're best suited to serve.

The next step is to manage this process correctly, ethically, and in a way that feels right for you and your clients.

I've found that during free strategy sessions, coaches often over-teach, giving potential clients a false sense that they can solve their problems alone.

This serves no one. If they could do it on their own, a quick Google search would suffice. The reality is, they need YOU!

Like the company in our opening story, people are trying to fix their businesses, marriages, bodies, careers, and many other aspects of their lives – but to no avail.

They need you to guide them to the best solution.

If that solution involves working with you, I believe you're ethically obligated to help them do so.

Otherwise, you're leaving them in a burning building with only a watering can.

You’ve got your chalk, no make YOUR mark!