Everybody has a sense of the right price, of what they'll grin and bear. But how to find the highest bearable price? The problem has long baffled cash-maximising managers, but Scott McNealy, CEO of Sun Microsystems, might just have the answer. Don't fix the price at all. Let customers fix it themselves via auctions, as buyers do on eBay.com. Sun is already selling computers through this and other auction sites and, as McNealy recently told the Harvard Business Review, he is very pleased with the results. Eventually, Sun won't have price lists at all. So, not only must its poor sales reps sell on attributes other than price, they can't play 'liar-liar' either. No more 'this is my best price' to prospects who counter with equally phoney top offers. The new game is 'going, going, gone'.
There is a moral dimension to business, but you can take it too far.
In our second Changing Lanes podcast, we talk to people who have successfully pivoted their career by pursuing further study, finding a mentor or taking a sabbatical.
The law is changing so that parents who have lost a child will be entitled to take paid leave.
How a can of dog food inspired a $100m business.
Recognising there's a problem is only half the battle.
Do your research and be prepared to walk away if the deal doesn't feel right.