How do you work out your prices? Do you cover the cost of your product or service and then add a little bit of mark-up?
If so, you follow the pricing strategy of an estimated 75% of Australian businesses. And, according to some experts, you are selling yourself horribly short.
PricingProphets MD Jon Manning says traditional pricing approaches can lead to businesses “outsourcing pricing to their competitors or customers, leaving money on the table and ignoring demand and value.”
So how can you price your offering in a smarter way? Today, we provide some top tips.
Also on StartupSmart, investment guru Steve Torso explains how to secure funding when you have little equity in your house and we have the tales of one leading Aussie start-up – OrionVM – heading to the US, while another – StyleTread – makes a hasty retreat from Westfield.