04 Feb Is the Objective Magic or Margin?
Do I believe in the importance of knowing how to calculate the profit maximizing price, understanding the elasticity of demand, and appreciating price/volume trade-offs? Absolutely! Every business person / entrepreneur should have a good grasp of these fundamentals. But that doesn’t mean we have to set the price at the profit maximizing price, because that’s what came out of Excel. You may have other objectives for your business (I certainly hope you do). If, for example, you’re in the “business” of education, maybe the goal is to educate as many people as possible. If you’re in the “business” of providing health care, maybe the goal is making as many people healthy as possible.
Today’s post from Seth Godin speaks to this – enjoy!
Irresistible is rarely easy or rational