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All right, good evening. 
And thank you all for tuning in 

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to another episode of the 
professional. 

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Pricing Society podcast. 
My name is Terrence and we do 

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have another great episode in 
store for you. 

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All today pricing thought 
leader. /. 

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Shall first, we'll be taking the
time to discuss with us. 

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Holistic approaches to pricing 
which are also thoughts from his

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latest book. 
The price, whisper a holistic 

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approach to pricing power /. 
How you doing today? 

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I'm very well Terrence and I'm 
happy to be on the epidural, be 

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on the show. 
I hope is going to be not only 

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informative but also 
entertaining a little bit from 

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for the audience and for you 
too. 

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So I'm looking forward to the 
conversation. 

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Good, let's dive right into it. 
Go ahead and tell us a bit about

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your background and really what 
the pricing power means to you 

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as it pertains to your career. 
Yeah. 

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They so the story here and and I
think this is important for the 

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context is that I Um, first of 
all II got the, the moniker the 

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pricing power because people 
started to call me the price 

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whisper and and and because I 
got a wacky name. 

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I decided to adopt it, you know.
So the story here is that I ran 

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a couple of companies in Europe.
Before I moved here to the US 

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and came here to establish a no 
no division were fairly large 

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public company. 
And and, and and then I had 

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another for CEO positions. 
And in all of these instances, 

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we did experiments with pricing.
Some of those experiments were 

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very successful, others were 
complete Duds and most of them 

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were simply in inconclusive, 
right? 

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And what I mean with having a 
successful pricing experiment, 

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meant that the next quarter 
revenues would be up like 25%. 

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And, and, and, and We couldn't, 
we couldn't understand why some 

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of those experiments worked in 
others, didn't. 

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And what I had learned in 
business school and what I could

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read about pricing was so 
theoretical and so academic that

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it, it, it was really useless 
information. 

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So, 15 years ago when I decided 
I was too old and too 

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opinionated to to be Hired Gun. 
It was time for me to set up my 

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own company and take that 
interest in pricing that I had 

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and a process to make every 
pricing experiment that success.

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And and, and that is what we do 
in my company. 

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And it is all about, providing 
our clients, a methodology to 

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gain pricing power and pricing. 
Power is a term that was coined 

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by Warren Buffett and and and 
and he said that the most 

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important Criterion for in 
investing. 

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In a company is whether they 
have pricing power and he then 

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continued to say that and 
pricing power is the ability to 

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increase prices and not lose 
sales volume. 

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And that's the Holy Grail e. 
Yeah, that makes perfect sense. 

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Okay, so we think about the term
pricing power. 

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How does a holistic approach tie
into that? 

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What is a holistic approach to 
mean? 

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And, well, the the we have to 
look at pricing. 

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Power is is something that a 
company earns, right? 

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You cannot just increase prices 
and believe that. 

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It's It's going to work, right? 
Sometimes if you're well on the 

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price, yes, you can. 
But many times not. 

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And what I mean with the the 
learning learning the the the 

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right to have pricing power is 
about understanding how 

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everything that you your do in 
your company, affect your 

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Pricing power or lack thereof. 
And that means that the way you 

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target your customers effects 
effects, your pricing power 

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because you do want to Target 
your customers that has a higher

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willingness to pay and therefore
support higher prices then 

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another customer segment, right?
So you need to know what your 

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customer segments are willing to
pay. 

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You can focus on the most 
desirable one, you need to know 

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how the features and functions 
of your product or your service 

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affects what people are willing 
to pay for it, right? 

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And if you if you know what 
they're willing to pay, you can 

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make sure that you have the best
product to Market fit. 

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You can make sure that you in 
your promotion and in your 

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marketing, you're using the The 
features and functions that 

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support higher prices, then 
other features functions and 

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benefits, right? 
Likewise you need to understand 

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your marketing. 
What marketing channels, what 

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marketing messages, what 
marketing, methodologies leads 

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to attract potential customers 
that has a higher willingness to

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pay than other marketing 
channels? 

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Less than other messages, the 
other methodologies and the same

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with sales and and again you 
need to understand what sales 

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channels and sales methodologies
and so forth. 

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Leads to a higher higher, 
willingness to pay, and who the 

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customers are, who have that 
higher willingness to pay again,

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supporting higher prices. 
And finally, you also need to 

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know again the, the how to 
stratify your pricing in such a 

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way that it minimizes sales 
friction. 

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And, and submit maximize your 
revenues and your profitability.

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Ability, or possibly or your 
sales volume, if that's 

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important for you, but profits 
are more important than sales. 

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Volume. 
Sure. 

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So unless you understand, and 
this is, the holistic view. 

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Understand customer segmentation
understand product to Market 

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fit, understand marketing, 
understand sales and understand 

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pricing strategy all together. 
Means that you can Elevate 

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companies to really to the next 
level. 

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We're not talking about a few 
percent here. 

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And there, we talk about 
doubling sales volume right with

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all doubling revenue or more, 
right? 

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So it's it's it's transformative
for a company completely 

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transformative. 
That doesn't mean it doesn't 

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mean that you should not Do some
of the other stuff that that is 

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also important like sales 
transaction and houses and price

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waterfalls and shorts. 
But the problem with all of 

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those is that they are 
backward-looking, you know, if 

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you do the the take that 
holistic projects forward 

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looking so so. 
And like I said, it transformed 

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companies. 
Yeah, absolutely. 

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So you just listed a number of 
different components that 

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companies can use to gain this 
holistic approach to possessing 

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pricing power. 
One of the things you mentioned 

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was honing in on the customers 
that have the willingness to pay

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a little bit more. 
Now, how does a company, how can

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they measure the trust, you know
behind that or or the result 

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behind companies that are 
consumers that are willing to 

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pay more? 
Well, he's actually not only 

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consumers, it's the it's the 
same in business to business, 

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you know, We think we do 
rational buying decisions, 

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especially in 
business-to-business. 

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What? 
We not, you know, all purchase 

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decisions are emotional, you 
know, John and then we put 

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rationale on top of it to 
justify the decision for 

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ourselves. 
So, I mentioned that when I 

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started up my own company here, 
they the the I developed a 

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methodology to That makes every 
pricing experiment a success, 

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and this is to understand how 
all of these variables, affects 

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willingness to pay, and, 
therefore, affects how you can 

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price. 
And there are many in this is 

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done in in online, polling of a 
Marketplace, and that could be a

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B2B Marketplace for. 
It, could be a consumer 

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Marketplace and the 
methodologies that are out, 

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there are not good enough. 
So so we developed our Our own 

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and we also developed our own AI
software that analyzes the data 

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we capture from from from the 
market. 

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And is it Dependable? 
Well, I have 700 more than 700 

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customers, they said, yeah, it 
worked perfectly, right? 

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And I'm customers, it says 
things, you know, things like 

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yeah, pair, you helped us. 10x 
our company helped us 5x. 

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Our company, you helped us 
increase Revenue with four 

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hundred percent, right? 
Yeah. 

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I got a unsolicited email from a
customer couple of weeks ago and

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it was a screenshot from his 
accounting system and I could 

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see that his his his sales 
volume with down a few percent, 

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and his margin was up 49%, 
right? 

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Yeah. 
And his message was very short. 

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He said less work more money. 
Many thanks - that's awesome 

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now. 
Now, how should a company 

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Implement these learnings from 
willingness to pay research? 

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Well, I think you're bringing up
something that is very 

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important. 
And first of all, it needs to 

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Um, the process is that needs to
be implementing need to come 

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from the top of the company. 
It needs to come from from 

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really, from the CEO, or 
certainly the sea level. 

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If it's a, if it's a very large 
company but it's all every 

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company have sort of a gut 
feeling about the market. 

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They have a gut feeling of 
corporate gut, feeling of why 

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people buy, why don't buy what 
they're willing to pay and so 

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forth, you know, and if the 
company has Salespeople. 

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They have a gut feeling that is 
is they are being grind down, 

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right? 
Because they here day in and day

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out that your product or your 
service is not as good as 

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competition. 
And it's more expensive, right? 

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So, the, the most important 
thing is that the company 

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organizes Training programs, 
because everybody who's in sales

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know the the the the proverb 
buyer liar, right? 

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So, don't believe when you're 
trying to sell something to 

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somebody, don't believe what 
they say, don't believe what 

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their willingness to pay is 
because some some of these 

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buyers will lie outright some 
will simply withhold information

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and some wood Will be truthfully
truthful, of course. 

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But for sales people to hear 
that day in and day out, they 

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get grind down. 
So they need to understand what 

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Companies or what their clients 
really are willing to pay 

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marketing needs to understand. 
They need to be trained on 

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understand what channels and 
messages really support that 

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higher willingness to pay and 
support higher prices, you know,

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product management. 
Need to know what feature 

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functions and benefits that 
supports higher prices than 

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other feature functions of 
benefits. 

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And, and And the same, you know,
same with the, you know, the 

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sales organization, you know, 
the need to know, not only what 

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customers are willing to pay, 
but what they're willing to pay 

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more for, right? 
And, and obviously, there is a, 

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there's a lot, a lot of 
discussions and we talk about 

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value pricing, right? 
Well, unless you understand from

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the market, what they value, 
it's just It's work. 

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Mmm, you know if you as a 
company try to figure out what 

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value your product or service 
gives a company. 

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It's you know you can make 
assumptions and assumptions is a

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is a is is another word for 
guessing it. 

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Maybe a maybe an educated guess 
but it's still a guess, right? 

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And and he instead if you 
measure what people actually say

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they're willing to pay, you have
how they value that product or 

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service and it's not guessing 
anymore, right? 

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So he's saying that's a survey. 
Did you guys surveys? 

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Yeah online. 
Surveys. 

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Yeah. 
Okay. 

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Okay. 
And people say one of the 

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questions I get very often is 
how can we trust it result? 

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You know, how can we trust that 
you talk to the right people? 

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And again, we have device to 
process that. 

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That that in a very sneaky way, 
disqualifies people who we don't

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want to talk to because 
obviously garbage in garbage 

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out. 
Yep. 

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Yep. 
And and when we do these these 

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projects we often disqualify 95 
to 98% of people who starts a 

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survey. 
Wow. 

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Okay. 
Because we want to talk to the 

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right people. 
Yeah, yeah. 

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And and, and And and then we 
have our animation that are AI 

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software called predicted demand
analysis, or predicted, sales 

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analysis. 
And we in that, we can see how 

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people answer the survey we can 
see if they lying and the 

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software can assess. 
If they lying there, the their 

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data could kicked out and not 
used for the analysis. 

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Wow. 
Yeah, well that's that's that's 

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amazing coming from, you know, 
you guys develop your own 

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software. 
Yes. 

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Be able to detect these type of 
things and be able to, you know,

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have this type of Insider 
knowledge to be able to share to

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others this amazing. 
But but remember I started to 

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say that it all came from my 
experience running companies, 

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right? 
And and from my very early 

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interest in pricing and pricing 
mistakes. 

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I did, you know, but the very 
first company I II established 

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in Ran we priced ourselves 
really low mmm. 

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And I sold through a channel and
and eventually I realized that 

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they were marking up our product
to the Yahoo, you know. 

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So they were making lots of 
money on our product that was 

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Innovative and so forth. 
And And and we were struggling 

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because we were pricing 
ourselves too low. 

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We didn't have enough profits, 
to be honest, you know? 

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So so that was one of the 
mistakes I did, you know? 

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And, and, and then we did the 
other experiments that worked 

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really well. 
You know, that one one I 

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remember was this is what 
professional the electronics and

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we went to a trade show and the,
the, the everybody said you 

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should not Prices on your 
products on the trade show, we 

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put prices on our product on a 
trade show and and and and I 

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people coming up to me saying 
that I thought I'd never afford 

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this product but now I can see, 
I clearly can. 

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Mmm. 
Yeah, just being upright and 

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honest with with them. 
Yeah, correct. 

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Yeah. 
And and I remember when, when I 

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moved here, then to the state's 
the, the said I stabbed his and 

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ran a Division of a fairly large
public company and also 

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professional electronics. 
And we develop the product and 

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the CEO of the company said 
we're going to price. 

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This is at 1,100 bucks, right? 
Just I don't think they're 

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right. 
Yeah and I said no it's going to

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be 3800 and and you know we 
don't know how much it was some 

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of that I think over two year 
period period. 

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Did we sold about 40 45 million 
or that? 

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Wow, that's amazing. 
Yeah, so and that was really 

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from scratch, you know. 
So but you can imagine having 

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having a fifteen percent margin 
versus having a 400 percent 

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margin made it. 
A little bit of difference on 

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the bottom line. 
Absolutely, I'm sure any company

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in their right mind would you 
know love to have those type of 

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numbers and you know, regarding 
their increase so as a pertains 

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to You just recently had a book 
your latest book price. 

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Whisper a holistic approach to 
pricing power. 

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You go over these different 
components to possessing a 

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holistic approach. 
Yes, I do. 

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Yes for companies. 
Okay. 

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So, yeah, even more about your 
about your book. 

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Well, I'll tell you the, the 
I've done a lot of white papers 

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and articles and all different, 
all different Publications. 

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So I've been published in Forbes
and ink and New York Times and 

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all different, you know, 
Financial Times all different 

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Publications like that. 
And, and and so, I thought to 

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myself that I should have a 
book, right? 

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And I sure I said, well, why 
don't I take all these white 

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papers and all these articles 
and and just put it in a big 

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document and write some glue 
around it, right? 

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It didn't work that way. 
It didn't work that way. 

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I had to, I had to read, I mean 
I had to rewrite just about 

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everything in the in the book 
and and but it goes into a lot 

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of detail on exactly what I've 
been talking about here. 

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And how you how a company can 
gain that holistic, approach, 

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and and how how how it can 
leverage leverage a better 

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understanding. 
One of the markets willingness 

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to pay segmented in the way I've
described here for you to 

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elevate themselves to elevate 
the company, to the next level. 

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And we're getting a lot of our 
business from private Equity 

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00:20:21,500 --> 00:20:24,300
groups or rather the portfolio, 
companies to private Equity 

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00:20:24,300 --> 00:20:27,800
groups. 
And I don't know if the audience

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00:20:27,800 --> 00:20:31,600
know much about private Equity 
that they typically by 

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00:20:31,600 --> 00:20:36,100
companies. 
Or buy a very large chunk or 

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00:20:36,100 --> 00:20:41,300
majority of a company and and 
and and they they then they sort

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00:20:41,300 --> 00:20:46,800
of turn them around. 
And what they typically say is 

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that they call something the 
whole time means they want to 

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00:20:51,100 --> 00:20:54,000
turn around the company and then
hold the company for between 

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00:20:54,000 --> 00:20:56,800
three to five years and then 
sell it at a profit. 

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And I have private Equity Group 
saying that well, pair you lower

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00:21:03,200 --> 00:21:06,400
the whole time. 
From five years to a year and a 

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00:21:06,400 --> 00:21:09,400
half so thank you very much. 
Wow. 

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00:21:09,800 --> 00:21:13,800
You know you have you have 
plenty of proof that your 

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00:21:13,800 --> 00:21:17,000
strategies and methodologies 
have been working very well. 

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00:21:17,000 --> 00:21:20,400
Oh yeah, I spoke to the CEO of a
company. 

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00:21:20,400 --> 00:21:24,100
We worked for in a very niche 
market. 

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00:21:25,800 --> 00:21:30,900
We worked for them with a 
project, this spring and he 

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00:21:30,900 --> 00:21:38,800
basically said well pair Our 
pricing saved our rear behind 

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00:21:38,800 --> 00:21:44,800
this year. 
Sure, you know, and, and so, 

305
00:21:44,800 --> 00:21:48,600
he's happy and he's one of these
private Equity Group own 

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00:21:48,600 --> 00:21:52,200
company. 
So so he's about to exit that 

307
00:21:52,200 --> 00:21:55,100
and stop the the next Journey to
the next. 

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00:21:55,200 --> 00:21:57,000
Next private Equity Group 
Company. 

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00:21:57,500 --> 00:21:59,600
Awesome, well, bear. 
I want to thank you so much for 

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00:21:59,600 --> 00:22:02,700
your time today sharing your 
knowledge will insights about 

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00:22:02,700 --> 00:22:06,100
pricing power and hold it. 
Approaches, can you please share

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00:22:06,100 --> 00:22:09,300
with us where viewers and 
listeners can retrieve any of 

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00:22:09,300 --> 00:22:11,700
your materials or resources? 
Yeah. 

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00:22:11,700 --> 00:22:17,400
The the absolute best way is 
simply to just do a Google 

315
00:22:17,400 --> 00:22:20,600
search for the price. 
Whisper, you'll find me. 

316
00:22:20,600 --> 00:22:23,900
You'll find my company. 
You'll find my YouTube channel. 

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00:22:23,900 --> 00:22:27,800
You find lots of the 
publication's. 

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00:22:27,800 --> 00:22:33,900
I've done, you will also find a 
company called red fin that It 

319
00:22:33,900 --> 00:22:40,800
had a had a service to value 
your house, that they also 

320
00:22:40,800 --> 00:22:47,000
called the price whisper, but 
but that's the easiest way to 

321
00:22:47,000 --> 00:22:49,300
find me. 
You can also go to my last name,

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00:22:49,300 --> 00:22:53,300
show force.com go. 
You can do go to the price 

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00:22:53,300 --> 00:22:57,100
whispered about me and that also
finds me so. 

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00:22:57,400 --> 00:23:00,500
All right, so you have a month 
and I would encourage people to 

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00:23:01,200 --> 00:23:05,800
go to Amazon and get my book 
because it's it's gotten the 

326
00:23:05,800 --> 00:23:08,300
tremendous feedback from from 
people who read it. 

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00:23:08,300 --> 00:23:12,400
So, Okay, awesome. 
If you are somebody, that's 

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00:23:12,400 --> 00:23:15,700
looking to get, get more from 
your information about holistic 

329
00:23:15,700 --> 00:23:17,700
approaches, the pricing power. 
I want to encourage you all to 

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00:23:17,700 --> 00:23:22,300
please look into purchasing, mr.
Chauffeurs latest book, the 

331
00:23:22,300 --> 00:23:24,600
price whisper a holistic 
approach to pricing power, 

332
00:23:25,000 --> 00:23:26,400
outside of that thing is so much
good. 

333
00:23:26,400 --> 00:23:30,900
Surfer spending time to speak 
with me today about your your 

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00:23:30,900 --> 00:23:33,400
latest book and of course your 
expertise in the field. 

335
00:23:33,400 --> 00:23:36,600
So I appreciate that. 
Thank you so much sirens, and I 

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00:23:36,608 --> 00:23:40,100
hope this was good for you and I
hope Hope it was good for the 

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00:23:40,100 --> 00:23:41,400
listeners. 
Thank you so much. 

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00:23:41,700 --> 00:23:42,300
Absolutely.