Product pricing is tricky. You’ve got a lot to consider when designing the business model for your product. Are you scaring people away by charging too much? Are you leaving money on the table or looking foolish by charging too little?
At the end of the day, there’s a lot of analysis paralysis going on related to product pricing. I need you to know that if you’re stuck in one of these traps that it isn’t uncommon and that you’re probably overthinking it.
Product pricing is simpler than you realize. I’m going to talk about it a bit more this week, but for now I want you to start thinking about pricing in terms of return on investment (ROI) for your customer.
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At the end of the day, what will matter most is that you are solving your customers problem better than how they solved it before. So your primary goal is to provide value for the customer and capture value for your business.
Don’t overthink it.