Top 6 – September 2011


Tim J. Smith, PhD
Founder and CEO, Wiglaf Pricing

Published September 8, 2011

“Find the problem that other people have ignored.” Scott Cook, co-founder of Intuit Inc. August 18, 2001, WSJ.

  1. A good idea needs a good patent strategy. Protect your jewels.
  2. “Big organizations get committed to the way things were. It’s the small team led by an entrepreneur that can invent the way things will be.” Scott Cook
  3. Couponing can be profitable is like saying it can be destructive.
  4. The Entrepreneurs Funding sources: Friends, Family, and Fools.
  5. Intuit’s startup capital: Savings, retirement plan, parents, personal line of credit, and two smallish angel investors. The three Fs.
  6. Know thyself.
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About The Author

Tim J. Smith, PhD, is the founder and CEO of Wiglaf Pricing, an Adjunct Professor of Marketing and Economics at DePaul University, and the author of Pricing Done Right (Wiley 2016) and Pricing Strategy (Cengage 2012). At Wiglaf Pricing, Tim leads client engagements. Smith’s popular business book, Pricing Done Right: The Pricing Framework Proven Successful by the World’s Most Profitable Companies, was noted by Dennis Stone, CEO of Overhead Door Corp, as "Essential reading… While many books cover the concepts of pricing, Pricing Done Right goes the additional step of applying the concepts in the real world." Tim’s textbook, Pricing Strategy: Setting Price Levels, Managing Price Discounts, & Establishing Price Structures, has been described by independent reviewers as “the most comprehensive pricing strategy book” on the market. As well as serving as the Academic Advisor to the Professional Pricing Society’s Certified Pricing Professional program, Tim is a member of the American Marketing Association and American Physical Society. He holds a BS in Physics and Chemistry from Southern Methodist University, a BA in Mathematics from Southern Methodist University, a PhD in Physical Chemistry from the University of Chicago, and an MBA with high honors in Strategy and Marketing from the University of Chicago GSB.