6 months of being an entrepreneur feels like for-freakin’-ever, thanks in no small part to the things I’ve learned along the way.
The most important lesson is this: things cost what they cost. The basic premise that drives this lesson is trust. Trust between the buyer and the seller that the price is accurate and fair. Without inherent honesty about accurate and fair pricing, someone’s getting screwed. Without trust, it’s only natural to assume you are the one getting screwed, even if this isn’t the case.
Good business people will be blatantly honest about three things:
- What things cost;
- Why certain things cost more than others;
- How much higher or lower their price is, comparative to similar businesses
For more on this, check out Seth Godin’s The Dip and Waiter Rant by The Waiter – probably the two best non-business reads on fair pricing.
Trust and Pricing
The most important lesson is this: things cost what they cost. The basic premise that drives this lesson is trust. Trust between the buyer and the seller that the price is accurate and fair. Without inherent honesty about accurate and fair pricing, someone’s getting screwed. Without trust, it’s only natural to assume you are the one getting screwed, even if this isn’t the case.
Good business people will be blatantly honest about three things:
For more on this, check out Seth Godin’s The Dip and Waiter Rant by The Waiter – probably the two best non-business reads on fair pricing.