Mark Stiving is a serial entrepreneur and a pricing expert. In this video he tells the story of being mistaken for a lost lamb by a shepherdess in Las Vegas after being screwed by a cab driver. He uses her business model to illustrate three important pricing principles:
- Know Your Value
- Segment Your Market
- Offer a Portfolio of Products
To get the full impact you should hear him tell it:
Pricing Principles for Entrepreneurs
Mark is offering a “Pricing Principles For Entrepreneurs” workshop on Mar-30 at Plug & Play in Sunnyvale. that will address a number of pricing questions that come up regularly at Bootstrapper Breakfasts:
- How Customers Think About Price And Value
- Value Based Pricing vs. Cost Based Pricing
- Pricing Strategy vs. Product Strategy vs. Corporate Strategy
- Price Segmentation vs. Market Segmentation
When: Saturday, March 30 from 9:00 am to 5:00 pm.
Where: Plug and Play – 440 N. Wolfe Road, Sunnyvale, CA 94085
Cost: $1,000 (use “Bootstrapper” for 25% discount)
Related Blog Posts On Pricing Principles
- Q: How To Pull The Trigger On A Pricing Model
Price to value: You should ask them what they are doing now and what it’s costing them in time, effort, dollars, opportunity cost, risk, etc… That’s factual. And from their answers you should be able to infer a value for your offering if it satisfies their needs and their constraints on a solution.
- Tangible Costs, Time, and Pricing to Value
- Your First Dozen Enterprise Customers
- Q: How To Speed Up Early Trials, Adoption, and Sales
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