Chair: Chuck Weller ’66
Email: weller1@nxgh.net
Chuck Weller – 216 496 0836

Resources for Entrepreneurs:

Jeff Hoffman’s new book with David Finkel — Scale Your Business: 7 Proven Principles to Grow Your Business and Get Your Life Back

The book is great, and it has many terrific resources:

Tool 1: Training Videos

Grow Your Sales Short Course Begin Course

Financial Pillar Short Course Begin Course

Strategic Planning Short Course Begin Course

Jeff Hoffman, co-founder of Priceline.com, is a serial entrepreneur who has successfully scaled and sold multiple companies. Collectively, his businesses have generated sales in the billions of dollars. He lives in Cleveland. David Finkel is the founder and CEO of Maui Mastermind, one of the world’s premier business coaching companies with thousands of clients around the world. He is the Wall Street Journal and Business Week best- selling author of 11 books, including co-authoring recently released, Scale: 7 Proven Principles to Grow Your Business and Get Your Life Back (Penguin Random House.) He lives in Jackson Hole, Wyoming.

Customer Value versus Cost Plus Pricing. Parker Hannifin example: Changing the formula: Seeking Perfect Prices, CEO Tears Up the Rules. Wall St. J. (March 27, 2007)

“Much of industrial America — 60% of U.S. manufacturers — still relies on ‘cost-plus” types of pricing.” In 2001, Parker CEO Don Washkewicz switched to customer value pricing. Overnight, Parker raised their prices anywhere from 3% to 60%. The price increases were met with immediate protest. Parker’s sales team explained why. For example, for Ingersoll Rand’s Bobcat product, Parker’s sales team explained that its “new motor replaced 11 separate parts in the company’s existing machines, … reduced leakage by eliminating hydraulic connections, was easier to install at Bobcat’s factories, and opened up space inside the machines.”

The result of the switch from cost-plus to customer value pricing? Don Washkewicz:: “It’s a different way of thinking that filters into everything.”