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Masters of Scale

19. How to price your product to scale, w/ClassPass's Payal Kadakia

Masters of Scale

WaitWhat

Entrepreneurship, Business, Management, Reid Hoffman, Mindset, Diversity & Inclusion, Jeff Berman, Bob Safian, Startups

4.64.4K Ratings

🗓️ 4 August 2020

⏱️ 42 minutes

🧾️ Download transcript

Summary

The price that bleeds your business could also save it. We're revisiting a classic episode with ClassPass' Payal Kadakia to focus something every entrepreneur struggles with: pricing. When you invent something innovative, you can’t know how to price it on Day One. But you need to get people in the door — a LOT of people — even if you have to price your product fatally low at first. In this episode, ClassPass founder and chair Payal Kadakia shares the winding path to the right price — and how the journey revealed what was most valuable about their service.

Read a transcript of this interview at: https://mastersofscale.com/payal-kadakia-how-to-price-your-product-to-scale.

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Transcript

Click on a timestamp to play from that location

0:00.0

Hey listeners, it's Bob as any entrepreneur knows building a business from scratch is

0:06.4

no easy task and it's even harder in times of economic uncertainty.

0:11.4

So what do you do?

0:13.4

How do you find ways to grow your business or even just keep it afloat when financial

0:17.4

conditions are flailing?

0:19.6

Such an important question and that's why Reid Hoffman and I wanted to host a Master's

0:24.3

of Scale strategy session about this very topic.

0:27.8

And we've invited our friend Sally Crotchek to join us and share her perspective too.

0:32.6

Sally is the CEO and co-founder of Elevest and one of the brightest minds in business

0:38.4

with some serious experience leading teams through economic turbulence.

0:43.2

On Monday, May 8th, Sally Reid and I will be tackling some of your toughest questions

0:49.2

and sharing our best advice on how to rebound when the economy is down.

0:53.9

So take a moment right now, go to master's of scale dot com slash strategy session to register.

1:01.2

This virtual live event is completely free and you won't want to miss it.

1:05.5

Again, that's master's of scale dot com slash strategy session.

1:10.2

Thanks.

1:11.2

Hope to see you there on May 8th.

1:13.8

Every weekend I felt like I was a little like mini roadshow where my parents would come

1:18.5

with me and I'd have my costume and my cassette and I'd have to like walk in and make sure

1:22.8

like the music played all right.

1:24.7

That's pile cadaccia.

1:34.7

She's been on stage since she was three years old.

...

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