I was recently reminded of a great practice for all professional firms to get into the habit of doing, namely measuring discounts. Most firms I work with do not, but I think this is serious mistake.

I would measure discounts on all aspects of your business. For those of you who sell products in addition to services and knowledge this means measuring the amount of discounts you are giving in each area.

Many of you know I am not a big fan of measuring anything financial other than the basics, but I truly think measuring discounts will provide you with insight on how to become a better, more confident pricer.