Important pricing related topics Rodrigo and should prove beneficial to many.
Indeed, I do often hear or read advice to startups and founders promoting the idea that one can come back later to make better informed pricing decisions.
Yes, there are many variables to consider and prioritize … but I am compelled to caution any business leader that may avoid better informed business-critical decisions related to pricing/monetization at any stage in the value (product) lifecycle.
The most common reasons leaders and companies delay Better Informed Monetization and Pricing Decisions.
● Know All There Is To Know
Believe outside assistance would provide zero new insights / opportunities
● Not Enough Time
Complexity and effort exceeds current bandwidth / priorities
● Fear + Risk
Afraid changes at this time would jeopardize existing acquisition / retention
Let’s consider *just some* of what one is actually saying when they de-prioritize and put-off better informed pricing / monetization decisions.
- Revenue / Revenue Growth is not a priority
- CLV / LTV is not a priority
- Attracting / Keeping the best talent is not a priority
- Exit / Liquidity time horizon is not a priority
- Return on time, dollars, effort and risk is not a priority
- What determines 100% of my Top-Line is not a priority
- What determines my burn-rate is not a priority
- and more
It is for these reasons, that I .. hear in their voice and see in their face .. the out-sized regrets founders and CEOs share with me and how they wish they did not delay making better informed pricing and monetization decisions.
I do realize this may come across as promoting my services … however, it is for these very reasons that I started PricingWire and DemandSpark.
Candidly, I encourage leaders to consider they …
- likely do not know all there is to know
- it does not need to take a lot of time or bandwidth
- the fear should be of your regrets and the risk is diluting the financial potential of your market and delaying the success you, your team and your investors deserve
Much more I could say … leaving it there for now … thanks again for pointing folks to some valid considerations that will / do matter.