How you should actually price your product

Good to think about

1. Start by choosing a price that you are completely satisfied with. In other words, it should cover all your costs as well as allowing you to reach your desired profit.

2. Next, adjust that unique and exceptional value in your product that makes customers willing to pay that price. Alternatively, explore ways to enhance your product so that it is worth that value.

3. A funny thing is that many aspiring founders do the complete opposite. They set a "reasonable" price, similar to their competitors or even less, and as a result they subsequently do not profit.

4. But we know that targeting is everything. Regardless of the magnitude of your ambitions ("think big"), you will invest all your valuable resources—time, money, or even your life—to achieve them.

5. So, what's the point of choosing a price that won't be sufficient under any circumstances?

6. That is why it's crucial to pinpoint the right price from day one and tailor your product's value accordingly.

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