Leading a pricing transformation can be a challenging experience, especially when you’re working with a brand-new team of analysts who are brilliant at their jobs but new to the world of pricing software. This was the situation I found myself in—guiding a group of highly dedicated, incredibly smart people who knew their company’s history inside and out but were unfamiliar with pricing.
My boss used to say, “We don’t know what we don’t know.” This was especially true for our team. They didn’t know what they needed to know, and it was my job to help them figure that out. So, how did we tackle this challenge? With an assessment.
The Eureka Moment: Creating the Assessment
We decided to develop an assessment that outlined all the key concepts our team needed to understand, presented in a question format. The idea was straightforward: a quick test they could take monthly. The goal wasn’t to compete or get perfect scores—it was about tracking improvement and ensuring everyone grasped the critical concepts.
Initially, I was concerned this might create anxiety among the team. What if they dreaded scoring poorly? But I encouraged them to view it differently. The scores weren’t about ranking individuals; they were about understanding our progress as a team. This allowed us to tailor our training sessions to address areas needing the most improvement.
The Outcome: A Positive Transformation
The response was overwhelmingly positive. The team embraced the assessment as a tool for growth rather than a source of stress. It answered the crucial question, “What am I supposed to know?” making their learning journey clear and attainable.
Each month, we administered the same test. It wasn’t about the scores but about how much each person improved. This collective progress helped us pinpoint areas that needed more focus and adjust our training accordingly. The team felt supported and guided, and we had a clear picture of our progress.
Why You Should Consider an Assessment
For anyone going through a major pricing transformation, I highly recommend implementing a similar pricing assessment. Here’s why:
- Clarity: It provides a clear understanding of what team members need to know, eliminating ambiguity and making learning objectives concrete.
- Improvement Tracking: By focusing on improvement rather than scores, it fosters a growth mindset and continuous learning.
- Tailored Training: It helps identify areas needing more attention, allowing for targeted and effective training sessions.
- Team Morale: It reduces anxiety by shifting the focus from individual scores to team progress, promoting a supportive learning environment.
