#MondayMotivation: Emotions Shouldn’t Be Involved in Pricing

Looking for a little #MondayMotivation? We’re pulling out past stories that are still just as relevant today. Here’s a pearl from Jim: Emotional Pricing is Like Drunk Dialing.

Many of you would never, ever drunk dial. You would drunk text. I liked the alliteration of “Drunk Dial” so I went with it in the presentation, but it doesn’t matter because the idea is the same: Don’t do it!

It feels good to express some powerful emotion via text to that person who really needs to know the important thing you want them to know, but you would not approve if you were sober. You’ll be scrolling through your phone in the morning looking for incriminating evidence of your own foolishness and wincing at what you find.

That’s how you should feel if you set prices in an emotional frame of mind. Business is not just cold, hard rationality. It wouldn’t work that way. Do you think Steve Jobs analyzed his way to developing the iPhone? Certainly, logic is valuable, but what people don’t say enough is that emotions are key to being successful in business, too. Just as there’s a time and place for hard-headed logic, there’s a time and place for using your feelings to find a breakthrough solution.

Pricing just isn’t one of those. …

Check out the rest of Jim’s post: Emotional Pricing is Like Drunk Dialing.

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