Past Meetup

Pricing Products - #5 of the series: Get Control of Your F.A.T. in Your Startup

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Five Rules for Startup Pricing Excellence

Monetization is critical for startups and short-changing your pricing strategy is the fastest way to leave cash on the table; money that will be lost forever and never recovered. So before you make the same mistakes by those who now occupy the startup graveyard, you need to understand and overcome these five pricing challenges:

1. Know the difference between customers and users

2. Customer acquisition is the only cost that really matters

3. Keep the free out of freemium

4. Price and cost are unrelated

5. You don’t have a business model unless you get paid

The successful entrepreneur knows that financial savvy, expertise and discipline are the key tools in creating a successful business. Even if this is not your “core competency”, the successful executive will know how to uncover the “unknown unknowns” and build a team of experts to complement his/her skill set. It’s important, therefore, to select specialists in the areas of finance, accounting and tax who have the bandwidth and subject matter expertise. Our series will teach you the highlights and key areas in F.A.T. that you should know so that you can stay focused on building your business.