2 key traits of a great pricing person for startups
Say you’re looking to hire someone to focus exclusively on pricing for your software startup. Congratulations! Here are 2 traits to keep in mind when you’re writing the job description and interviewing candidates.
1. Product Mindset
Why? Key to pricing a product is the ability to understand the problems that the product is meant to solve for its target customers.
If that sounds familiar, it’s because it’s a key trait of a great Product Manager and Marketer as well.
Someone with this trait will intuitively know where to begin quantifying the value of your product in the customer’s eyes.
This is why I ask the interview question: “How would you design a toaster for use in a spaceship?”
2. Resourcefulness — aka “it takes a thief to catch a thief”
10 years ago I sat next to an individual contributor guy in nondescript cubicles at a leading Internet company. Until today he left a lasting impression in my mind as someone so resourceful.
I watched him look for ways to “game the system” then proceeding to close those gaps proactively.
He won promotions soon after. In fact, he has gone on to have a very successful career since, and became a CEO of a public company.
No, I’m not calling him a thief.
You want someone who can spot and fix the potential arbitrage issues in your pricing model. It takes a certain kind of mindset for sure.