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Last week we looked at how pricing is the single most sensitive variable in your business, and how every penny of a price increase flows straight to the bottom line.

We also looked at “anchor pricing,” the psychology of perceived value, and why the “right” price has almost nothing to do with your costs and everything to do with what your client believes you’re worth. (Perceived value.)

This week, we’ll go deeper. I’ll put you in the front row of an MBA class that could be held today at Harvard or Stanford. We’ll discuss “Strategy 101,” but you must not let the business terms scare you away. You must not think that because your firm is small, that these high-sounding business tools won’t work for you.