Andrew Gregson is our guest on this edition of the podcast. Andrew literally wrote the book on pricing: the best-selling “Pricing Strategies for Small Business” released in 2008. This fall, he released his second book – “The Dark Art of Pricing” – as he continues his quest to help entrepreneurs grow their profits through effective pricing strategies. Join Corey and Andrew for an insightful conversation that any business owner will find worthwhile.
- Why a new book? The first one has done so well.
- First book needed an update; it’s gritter and more about application of the theory
- The importance of pricing and the risk of following the crowd.
- Three-level pricing strategies
- Why customers leave
- What are businesses – especially ones that don’t last – doing wrong?
- Andrew’s motivation
- Pricing for profit and integration – alignment strategies for business; change management
- Success habits
- Experiment to find what works; learn from mistakes
- Roll with the punches
- Don’t waste your time
- Leave the mindless stuff for “stupid” days
- Takeaways for people:
- There is more than one way to price
- Legacy: multiply knowledge for as many people as possible
- Commoditization vs Value
- Get the value on the table first
- “Why not steal from the big boys?”
- Value “first” vs Value “added”
- Integrity & Authenticity in pricing
- We’re all better at sniffing out pricing games
- Remove value to drop price
- Communicating value
- The Tale of the Irrigation Pipes. (Yes, irrigation pipes.)
- Reflecting on his 100th birthday.
- Thought he’d make it to 97 and done away with by a jealous husband.