Episode 719 | How to Test Pricing, Lifetime Deals, and Building Something for Everyone (A Rob Solo Adventure)

Startups For the Rest of Us

Rob Walling

Entrepreneurship, Management, Business, Marketing

4.9 • 819 Ratings

🗓️ 25 June 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 719, join Rob Walling as he embarks on another solo adventure, tackling listener questions. He discusses how to test pricing, addresses the pitfalls of one-time payments vs. SaaS, and he reflects on “building something for everyone.” He wraps up with advice on making better recommendations. Episode Sponsor: We have been partnering with Lemon.io for several years, and they’ve proven to be a great choice when it comes to hiring for a highly skilled developer to work on your project. Here are five reasons why you should consider working with Lemon.io. The time from your request to getting a candidate is just 48 hours. Developers have previously worked with tech giants such as Apple, Google, Netflix, Airbnb, Intel, and LEGO. They only provide senior devs, with an average of 7 years' experience. Their talent pool covers more than 300 dev languages & frameworks. Your hire comes with a zero-risk, replacement guarantee. Customers of Lemon.io typically stick around for at least a year, proving they know how to gain your trust by delivering consistent results. Quit wasting time searching for a solid developer at a great price. Get in touch with Lemon.io. As a bonus for our podcast listeners, you’ll get a 15% discount on your first four weeks of working with a developer at lemon.io/startups. That’s lemon.io/startups Topics we cover: 0:58 – Testing different prices for your product 8:12 – One-time or lifetime payments 15:02 – Horizontal products, building something for everyone 21:43 – Making descriptive recommendations Links from the Show: 718 | When to Give Up, Open Source Competition, Painful Features, and More (with Derrick Reimer) TinySeed Building & Scaling Products: Lessons Learned from Four Years and 8,000 Customers – Des Traynor Shoe Dog by Phil Knight Sid Meier's Memoir! by Sid Meier Masters of Doom by David Kushner Doom Guy by John Romero The Ultimate Sales Machine by Chet Holmes If you have questions about starting or scaling a software business that you’d like for us to cover, please submit your question for an upcoming episode. We’d love to hear from you! Subscribe & Review: iTunes |

Transcript

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0:00.0	So this is in line with that thinking that really you can't, even if you're a horizontal product,
0:06.0	you still have to make some difficult decisions about who your someone's are going to be.
0:12.1	Who are you going to have everything for?
0:14.5	Because even if you have a horizontal product, there are going to be different use cases,
0:18.6	and you are going to have to make hard decisions with incomplete information as the founder or as the product leader about what to build
0:25.6	and what to say no to.
0:44.0	Thank you. You're listening to Start Up to the Rest of Us.
0:48.9	I'm your host, Rob Walling, and today I'm going to be covering some solo topics.
0:56.7	There's a listener question or two thrown in here, but they are questions that I think apply to a Rob Solo Adventure. First topic I'd like to cover today is about testing, pricing for your product. And this
1:04.6	came about when I asked Twitter for questions when Derek Rimer was going to be on the show,
1:10.0	and we got more questions than we had
1:11.7	time to cover. So this question was an overflow that I saved in Questions Trelloboard. It's from
1:17.8	Kat at buildthekeword.com, and she asks, how do you test different prices for your product?
1:24.4	The answer is, there are several different ways to do this. Testing pricing is hard,
1:29.3	but the thing to think about is there's testing pricing for brand new customers who are coming
1:35.1	to your website or doing a demo or sales call. And then there is changing pricing on existing
1:41.3	customers, notifying them, you're currently paying $50, it's going up to $100 or $75.
1:47.3	Separate those two things in your mind. Because what you don't want to do is change and test prices
1:52.3	on existing customers without being really confident that those price changes are in order.
1:59.7	And so usually you test it on new folks coming in.
2:03.2	And I have only known of one SaaS company that ever tested prices.
2:08.7	Everyone else just does not have the volume.
	...

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