Five pricing principles for startups

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startupsmart.com.auHow to price your product is among the most important and difficult decisions you will make as a startup founder. Your pricing strategy can affect both your revenue, profitability and your user growth, all of which are key issues for any startup. There are no definite answers to resolve the pricing question, however, there some principles to follow.

1. Charge Early

Charging for your product early, even before the beta, is the best way to validate whether the problem you’re solving is big enough and your solution can be monetised. When you come up with an idea and approach potential customers, almost everyone will tell you they’ll buy. Ask for their money, however, and 99 times out of 100 you’ll get a different answer.

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