Your Pricing is a Statement of Your Strategy
“Good Pricing has three prerequisites: Create Value, Quantify Value, and Communicate Value.”
Can you do that?
Former Microsoft CEO Steve Ballmer said, “Pricing is the most underused lever of strategy.”
Warren Buffet was more poignant when he said, “The single-most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you’ve got a terrible business.”
It’s why one of the core three sessions we do 1:1 before our Levership strategic cohorts we facilitate is a pricing and positioning conversation.
Have you looked at your pricing recently?
Why did you pick that price?
What are your competitors doing?
Are you priced on cost plus margin? That’s a terrible idea.
Are you priced on Value? Most don’t know the value they unlock for their customers and that is why the inquiry is so valuable and illuminating.
Is it time to look at your pricing again?
