Pricing your startup’s product right can make or break your success. Get the pricing right, and you’re on your way to success. Get your pricing wrong, and you’re in deep trouble.
I want you to get your pricing right. I’ll explain my five step, foolproof methodology to determine your product pricing. Let’s start with step number one…
1. How Startup Products Win.
You have to cut above the noise if your startup is going to succeed. Let me explain what I mean.
The world, which means your potential customers, has survived quite well without your product. For any startup to succeed they have to be significantly better than the alternative that your customers have been using.
The reason is that most customers are not going to take a chance on an unknown company unless they cannot get what they want from the existing suppliers. The more negative the ramifications of using a new product, the higher the bar you have to clear to get customers to use your product.
Let’s take a look at two different types of products to get a better understand of what I’m saying. Let’s say you open up a new restaurant.
It’s easier to get a potential customer to eat at your restaurant because the negative downside is just one bad…
