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Whether you are selling online streaming services, newspapers, magazines, exercise apps, or web hosting, getting your product pricing strategy in place on day one will help retain a positive revenue stream. To quote Richie Norton, author of the book The Power of Starting Something Stupid:
At the end of the day, if you have a great product and service paired with the wrong pricing strategy/business model, you do not have a business”.
If you price your products incorrectly, you will create problems that you will never overcome. This article aims to equip you with an understanding of how to price your products effectively from the beginning vs. day 50 without getting a Master’s Degree in the Economics of Pricing.