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The Ramsey Show Highlights

How Should I Price My Product?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 16 September 2020

⏱️ 8 minutes

🧾️ Download transcript

Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Chris Hogan, Christy Wright, Anthony ONeal, and Dr. John Delony. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's Wednesday, and this is the Ramsey Call of the Day.

0:03.9

Part of the Ramsey Network.

0:07.1

Christy Wright, Ramsey Personality.

0:09.3

Number one bestselling author is my co-host today here on the Dave Ramsey Show.

0:13.2

Open phones as we talk about your life and your money.

0:15.9

Triple-8-825-5-2-2-25.

0:19.2

That's Triple-8-8-25-2-5. That's AAA 825-5-2-2-5. Tommy is with us, and Tommy's in Charlotte, North Carolina. Hi, Tommy. Welcome to the show.

0:30.2

Hey, guys. Appreciate you taking my call. My question is around pricing strategies. So my full-time position is as a U.X product designer, designing websites,

0:41.7

apps, that sort of thing. I do a lot of freelance for pro athletes, influencers, startups,

0:47.8

building out primarily their e-commerce brands and websites and strategies. So typically I use two different models. So here's what it

0:57.6

costs, here's your design, handoff, and that sort of it. The issue that I run into with that is if

1:03.5

the website goes on to do a million, three million, five million, and you paid me five or ten

1:07.8

grand for the site, it's a great ROI for the client, which is awesome, but maybe I sold myself short.

1:13.6

And then the flip side is I typically will take less upfront, do the website, and then stay

1:19.6

on for a six month or 12 month retainer, making an X or even a percentage of sales or profits.

1:26.6

The risk there is, if products don't sell, somebody goes rogue, for whatever reason,

1:32.0

I'm stuck with all of this work being done, and, you know, 5% of zero profits.

1:37.2

So is there a different strategy that I should consider a mixed model account that you guys

1:42.0

know in the past has worked that minimizes my risk,

1:45.5

but also is fair for all parties involved.

1:49.5

You know, I've got a question, Tommy.

1:51.2

You know, first of all, both of the scenarios that you talked about, there's a risk on either side.

...

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