New business don’t know whether to charge low to attract customers or high to look premium. How to decide?
Share
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Think in terms of value, not hours. Ask: “What outcome does the customer get, and how much is that worth to them?” Use value‑based pricing where possible (e.g., charging more if you save time or increase revenue). Launch with a clear, simple price structure, then raise prices gradually as you prove results and collect testimonials. Early customers often accept modest increases if they see real value.
Hey David, Start by calculating your costs (materials, time, overhead) and decide the minimum margin you need to survive. Then research what competitors charge for similar value. If you’re new, avoid racing to the bottom; instead, anchor slightly below or at market rate and emphasize quality or service. Test two or three price points with small groups and watch conversion, not just clicks.