Top 6 – October 2015


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

Published October 6, 2015

“’I understand why some have concluded that Lehman’s failure was a choice,’ Mr. Bernanke writes. ‘In a way, it is a backhanded compliment: We had shown such resourcefulness to that point, it is hard to imagine that we could not have come up with some solution to Lehman.’” – The New York Times

  1. It is better to explore all options and fail than not try at all.
  2. You can apply all that leads to a non-solution and still be perceived as a success.
  3. Effort accounts for half of any success of failure.
  4. Learn from all avenues traveled.
  5. Resilience is often perceived as triumph.
  6. It is in the stabs at success that one can find they are bleeding out the other end.
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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.