I find mental models are useful to try to make sense of things and to help generate ideas. To actually be useful, however, you have to apply them in the right context at the right time. And for that to happen naturally, you have to know them well and practice using them.
There is a much smaller set of concepts, however, that come up repeatedly in day-to-day decision making, problem solving, and truth seeking. As Munger says, “80 or 90 important models will carry about 90% of the freight in making you a worldly‑wise person.”
In relation to startups, sometimes it’s important to raise prices to increase brand perception. The Sequoia Guide to Pricing explains how pricing is one of the most important strategic decisions for a company. But unfortunately it’s often an afterthought.