So far this week we’ve looked at how to choose the right business model for your startup. Now, we’ll be looking at how to find the right type of pricing strategy to sell a new product. Your business model and pricing strategy are interrelated. In some cases, the pricing strategy you choose to adopt may even dictate your business model.
As a business owner, setting the right prices for your products or services is a balancing act. Price it too low and you might not cover costs or make a profit, price it too high and you risk losing potential customers to more affordable competitors. A crucial element to getting your pricing strategy right lies…
So, you’ve got a big idea for a business and you’ve started researching the market you want to approach. What’s next? How do we take this seed of an idea and nurture it into a credible business? That’s what we’ll tackle in this article where we begin refining your idea into something that can make money. There’s more to starting a business than just coming up with a product or service you can sell.
