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Side Hustle School

#1908 - Q&A: Should I let my customers choose their own price?

Side Hustle School

Chris Guillebeau

Business, Side Hustle, Entrepreneurship,, Careers, Entrepreneurship, Small Business

4.73.3K Ratings

🗓️ 23 March 2022

⏱️ 6 minutes

🧾️ Download transcript

Summary

This listener is thinking of letting her customers set their own prices. Is the pay-what-you-will pricing model revolutionary or risky? 

Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.

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Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.


Show notes: SideHustleSchool.com

Email: team@sidehustleschool.com

Be on the show: SideHustleSchool.com/questions

Connect on Instagram: @193countries

Visit Chris's main site: ChrisGuillebeau.com

Read A Year of Mental Health: yearofmentalhealth.com


If you're enjoying the show, please pass it along! It's free and has been published every single day since January 1, 2017. We're also very grateful for your five-star ratings—it shows that people are listening and looking forward to new episodes. 😎 🙏🏼 


Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

This episode is brought to you by Slack. With Slack, you can bring all your people and

0:05.9

tools together in one place. It's your digital HQ where you can increase productivity,

0:11.1

enable flexibility and automate workflows. Plus, Slack is full of game-changing features

0:16.7

like huddles for quick check-ins or Slack Connect, which helps you connect with partners

0:20.9

inside and outside of your company. Slack. Where the future works. Get started at

0:26.9

Slack.com slash DHQ.

0:37.9

Hey there, I'd like to welcome you today to the daily podcast known as Side Hustle School.

0:43.1

It is community-organized, organically grown, all designed to help you make extra money

0:47.4

without quitting your job. Not just extra money, but extra passive income or extra income

0:52.6

that is an asset for you that gives you more of what you really want. Whether it is freedom

0:56.9

or creative outlet or retirement savings or whatever it is for you, that's your choice.

1:02.3

That's what we're all about. I've got a question for you today about pricing. A little bit

1:07.2

controversial here because I've talked about this before in the past. I always get emails

1:10.0

about it. Today's listener is thinking of letting her customers set their own prices.

1:14.9

Is this pay-what-you-will pricing model revolutionary or risky? Or another adjective that starts

1:20.9

with an R that I haven't yet thought of? We'll see. I tried this once myself or I should

1:26.0

say I was going to try it. Then a good friend of mine, Brian Clark, talked to me out of it.

1:30.2

I'll tell you a little bit about that. Also, why I now believe this isn't the right answer

1:34.6

for most projects. Just to kind of foreshadow my answer, I'm not a huge fan of pay-what-you-will.

1:40.1

Of course, there are always exceptions, but let's talk about the bigger picture right after

1:44.0

this message from our sponsor. Thank you, sponsor, and thank you, listeners. You're awesome.

1:48.1

When you're buried in orders and emails from stressed-out customers, you'll wish you had

...

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