“INside OUT” is the ethos of this book. This book’s purpose is to share and bring OUT knowledge from INside the personal experiences and practices of professional pricers.
Sharing involves more than having a positive and rewarding attitude towards collaborating and sharing ideas. It denotes an inner drive to embrace the notion that “Sharing makes you bigger than you are. The more you pour out, the more life will be able to pour in,” as expressed by Anurag Prakash, inspiring writer and awarded film director.
Indeed, sharing can be life changing: “Sharing the little you have with those in need can turn a life around without you realizing it” (Hermann J Steinherr).
Genuine, open and well thought-out insights based on experience are valued and sought-after bargaining chips. However, reliable and pertinent outcomes are more important than the sharing process itself. Sharing can only result in better informed decisions, enhanced practices and fewer pitfalls when the openness from one side is coupled with understanding and contextualisation from the other side.
Pricing INside OUT is all about pricing professionals sharing their proven experiences, resulting value and consolidated practices with their peers in the pricing community. It is storytelling with a positive impact on both personal and public spheres. It is examining pricing approaches by leveraging external feedback and contributions.
Pricing professionals are required, more and more, to tune up practices that enable them to generate measurable value. The challenge is to move from theory to economic utility; namely, assisting the trader in running and marketing the business in a way that is likely to attract the maximum amount of target customers and originate long-term highest possible profitable sales revenues. (This is the concept of economic profits vs. accounting profits, the first implying higher ROE than other alternative investment opportunities whereas the latter is simple immediate positive earnings.) Indeed, it is assumed that pricing professionals have fully mastered the conceptual framework and that the new focal point nests inside the daily value extraction work-out. Pricing literature has to move from words to deeds. Pricing lexicon has turned out to be the essential precondition for an uppermost discipline centred on value generation procedures and initiatives.
Hence, pricing professionals are in serious need of access to other professionals’ experiences in order to avoid pitfalls and ensure effective pricing practices and best outcomes.