Case Study: Pricing (Lean Canvas)
Leaving price last is your first mistake.
Average Entrepreneurs leave pricing decisions until last. It’s a mistake.
Here’s their thinking.
“Let’s just get something out there so we can get feedback.”
“More people will sign up if they can just try it out first.”
“Our early adopters can’t afford to pay that much.”
“<Insert big unicorn company> started with free. Now look at them.”
“My competitors charge X, so I’ll need to charge less.”
“We’ll start with X and then double it until we find the right price.”
I’ll be the first to admit that I’ve tried them all.
They are all wrong.
Price is a priority. A foundation on which business-builders must start.
And to quote my former COO “There’s no business in free”.
Now I start with: “What can I build that gets me X"?
Think of it this way: “What can I build that gets me a paycheck in 3 months?”
“Necessity is the mother of price innovation”
(My amplification of Plato’s “Necessity is the mother of invention”.
Today we’re going to look into the pricing section of the Lean Canvas for my $100M project. A real-life case study from my venture-building company.
Case Study: Codepassport (Lean Canvas)
How can you learn how to recognize a great business? By studying businesses, and learning what separates the great from the good. And where can you find business ideas? One of the best places is inside a company. Often, the one you’re working for. That’s where my biggest idea, so far, came from.
Codepassport.
