Think About Your Prices Early On
I recently wrote an article for the Institut für Jungunternehmen (Institute for Young Businesses a Swiss organization) where I commented on how important it is to consider pricing in the early stages of your business. Too often companies large and small leave pricing until just before a product goes to market. There are however real benefits to having thought about pricing early on.
Pricing needs to be an integral part of your business. It's not something you just do once and leave it there. Or that you do only at the start or only at the end. It's part of a cycle of things that you do throughout the life of what you sell. Due to it's impact on your profitability, pricing needs to be part of your overall mindset as you go about the business of doing business.
In the full article in english (in german), I cover 3 reasons why it pays off to think about your prices early on. We also look at why even knowing how important it is, it's often left until the end and what to do about it.
Share Your Thoughts
When you started your business, when did pricing come into the process? How did that impact your business. Share your comments in the comments section below.