Top 6 – January 2014


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

Published January 7, 2014

Welcome to 2014. May you have a punk year: Hope => Vision => Action => Perseverance => Luck

  1. Hope is a choice. It is better than its alternative choice: despair. Don’t let outside forces nor people, who may be indifferent to your existence or worse, seek your demise, make that choice for you. Defy the world. Choose hope. It is the origin of better future in which you can thrive.
  2. Vision is hard to create. It requires mental acumen to be combined with experiences and broad observation to create a unique concept of a better tomorrow for you and the people you touch. Others may deny your vision. Defy them.
  3. Action is required for all progress. First rule of sales: You can’t win if you don’t show up. Show up, even if you’re not wanted.
  4. Perseverance in the face of failure is a normal part of life. Only the lucky win the first time (Kmart), but the strong win over time (Wal-mart). Engage your failures, learn from them, but don’t fear them or wallow in them.
  5. Even with hope, vision, action, and perseverance, you will need some luck. “Strategic patience” is that waiting period for luck to arrive.
  6. It is your life path, not someone else’s. Be a punk and thrive. Live 2014 with Hope, Vision, Action, Perseverance, and Luck. Who knows what you will do in 2014? (Read Ecc 10:14 for one answer).
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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.