“Natural navigation is the art of finding your way by using nature. [It is] the rare skill of being able to determine direction, without the aid of tools or instruments and only by reference to natural clues including the sun, the moon, the land, the sea, the weather, the plants and the animals. It is about observation and deduction.”
In my continued fascination with People and Pricing, I’ve observed that many individuals — executives, managers, and individual contributors — hold self-limiting perceptions and beliefs about prices and profitability.
Have I discovered the secret to time travel?
“How do we know how high we can go when setting our prices?”
Assume for a moment that your business has awesome pricing power. Your customers always pay the premium prices you charge, without question or pushback. What would constrain your prices on the high side?