Video summary
There is no one perfect way to price your products, and there certainly isn’t a perfect price I can just go out and share with you. Each case will be different, but in this video I will show you how to approach every pricing decision with calculated care. Buckle up for step one—asses your product cost. STEP ONE: ASSESS YOUR PRODUCT COST The most important objective of your product price is that it needs to sustain your business. Before you can worry about how you’re priced in relation to your competitors and how your prices meet customer expectations, you need to make sure you’ve found a sustainable base price. If you price your products at a loss, it’s going to be almost impossible to grow and scale. That’s why you need to assess your expenses. Product cost is the total value you spend to create and sell your product. If you sell print-on-demand or dropshipping products, you’re going to start with the price you pay for the production of each item. But there are also other expenses involved.
STEP ONE: ASSESS YOUR PRODUCT COST The most important objective of your product price is that it needs to sustain your business. Before you can worry about how you’re priced in relation to your competitors and how your prices meet customer expectations, you need to make sure you’ve found a sustainable base price. If you price your products at a loss, it’s going to be almost impossible to grow and scale. That’s why you need to assess your expenses. Product cost is the total value you spend to create and sell your product. If you sell print-on-demand or dropshipping products, you’re going to start with the price you pay for the production of each item. But there are also other expenses involved.
Comments