We are sorry folks. John Stossel had to cancel because an injury. We wish him a speedy recovery and look forward to having him on in the future.
We decided to discuss a Ron’s Pricing Masterclass that he presented in Melbourne, Australia on May 30, 2018 at the launch of our VeraSage colleagues’ (Liz Harris, John Chisholm, and David Wells) new consulting firm, Innovim.
Ron presented his Top 10 Pricing Lessons, and John wrote a fantastic recap of this presentation, including additional links, etc.
I asked Ed to list his Top 10 Pricing Lessons over these past years, so we will present both of our lists below, along with specific links to prior shows where we covered these topics.
Ron’s Top 10 Pricing Lessons
Hourly Billing is a Lousy Customer Experience
The Transition from Hourly Billing to Value Pricing Requires Liminal Thinking, see the book Liminal Thinking, by Dave Gray.
Strategy and Positioning Dictate Your Pricing Strategy
Episode #23, Interview with Tim Williams, author of Positioning for Professionals
Episode #133, Second Interview with Tim Williams
Episode #128, The Three—and only Three—Pricing Strategies
The Value Conversation is the Most Important Skill in Our Business
Episode #30, Crafting the Value Conversation with Dan Morris
Episode #182: How to Have a Value Conversation
Ed’s Blog Post: Without the Conversation, There is no Value Pricing
My Five Favorite Key Predictive Indicators, see Episode #110: How to Use Key Predictive Indicators
Cost Accounting is Opinion; Cash is Fact
Episode #66: The Death of Standard Cost Accounting
Episode #112: Interview with Dr. Reginald Lee
Laughter is Confession, see BBDO Time$hits Video
The Best Learning Tool Ever Invented: After Action Reviews
Episode #15: The Best Learning Method Ever Devised: After Action Reviews
Episode #166: Interview with Chris “Elroy” Stricklin, Colonel (Ret), USAF
We Need to Embrace Risk, Not Run from It, see Episode #87: Risk is NOT a four-letter word
All Transformations are Linguistic, see Episode #6: Interview with Distinguished Professor of Economics, Deirdre McCloskey
Ed’s Top 10 Pricing Lessons
Good Fences Make Good Neighbors (Robert Frost’s poem, “Mending Wall”)
Episode #3: The Second Law of Marketing: All Prices are Contextual
Episode #65: How to be a Price Searcher, not a Price Taker
Don’t Forget van and von (referring to Peter van Westendorp’s Price Sensitivity Meter Questions, and Barron von Joseph Neinbach Model, see Ron’s book for the latter, Implementing Value Pricing: A Radical Business Model for Professional Firms, see Episode #65: How to be a Price Searcher, not a Price Taker [where we discuss Westendorp’s Price Sensitivity Meter Questions]
Bundles, not Line Items, see Episode #3: The Second Law of Marketing: All Prices are Contextual
Offer a Guarantee, see Episode #179: The Value Guarantee
Business is Not a Zero-Sum Game
Episode #13: Top Ten Business Myths, Part I
Episode #14: Top Ten Business Myths, Part II
Without a Value Conversation there is No Value Pricing
Episode #30, Crafting the Value Conversation with Dan Morris
Episode #182: How to Have a Value Conversation
Offer Choices
Episode #3: The Second Law of Marketing: All Prices are Contextual
Episode #65: How to be a Price Searcher, not a Price Taker
Time is Best Thought of as a Constraint, Not a Resource
Episode #60: Interview with George Gilder
Episode #68: Proper Project Management
Episode #109: Trashing the Timesheet
All Value is Subjective and All Prices are Contextual
Episode #2: The First Law of Marketing: The Value of Value
Episode #3: The Second Law of Marketing: All Prices are Contextual
Prices are not Derived from Cost; Prices Justify the Future Expenditure of Costs, see Episode #66: The Death of Standard Cost Accounting