Category: Entrepreneurship

• At what price would you consider the product to be so expensive that you would not consider buying it? (Too expensive)

• At what price would you consider the product to be priced so low that you would feel the quality couldn’t be very good? (Too cheap)

• At what price would you consider the product starting to get expensive, so that it is not out of the question, but you would have to give some thought to buying it? (Expensive/High Side)

• At what price would you consider the product to be a bargain—a great buy for the money? (Cheap/Good Value)

Wikipedia.org: Van Westendorp’s Price Sensitivity Meter

There is some excellent advice from successful entrepreneurs about how to get started and then grow the company.  Many start-ups fail because they aren’t sure where their efforts should be focused.  These experienced businessmen have made all those mistakes and learned how they should have focused their most valuable resource – their time.

These quick but hard-hitting tips show how to initially focus the work on the business, what pricing should be, and where your focus on your customers should be.  When a start-up company has a thousand things on the todo list, getting back to these basics can help focus on what’s really important.

25 Entrepreneurs Tell What They Wished They’d Known before Founding Their First Startup