Starting Your Start-Up–Book 4: Pricing Strategies is for engineers and entrepreneurs who have started a company and are struggling with pricing. In this e-book, author Tanya provides the tools necessary to make wise decisions in determining pricing, while highlighting the role pricing plays in the early stages of a start-up.
Candia shows the entrepreneur how to validate pricing, and how to develop a long-term strategy. She gives guidelines that will help ensure that pricing is not too high or too low, but will both satisfy customers, and help meet revenue goals.
Some of the topics in Pricing Strategies include: Determining Value, where Candia shares that “You may think you have a good idea of the value, but when pressed to put that value into monetary terms, you may find that your ideas are not fully thought out”. In this section, she highlights a few questions that the entrepreneur should ask themselves.
In Quantifying Value, the author helps the entrepreneur to think about who their ideal customer is and what benefits the customer will derive from the product.
Testing Your Assumptions has a worksheet that will help determine the difference between the perceived value and the objective value of the product to the customer.
In Pricing for Market Share, Candia warns that that any decisions made come with advantages and potential pitfalls. “The best way to price for market share is to ensure that your solution delivers at least as much value as the competition, and perhaps more.”
Pricing for Revenue gives the readers a few tidbits to ponder when thinking about the total value experience for customers.
Managing Executive Team Expectations stresses that everyone should be operating with the same assumptions and goals in mind.
In Introducing a New Product, Candia writes: “The best advice for start-up companies: either be aggressive or skim, but don’t come out with a price in the middle.”
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