Pricing Perplexities | Understanding Value and Avoiding Pitfalls

Humble Inc. | Launch a Startup without Losing your Mind

In this enlightening episode of the Humble Inc. Podcast, "Pricing Perplexities: Understanding Value and Avoiding Pitfalls," hosts Charlie Lass and Walker Lutringer discuss the intricate world of pricing strategies for startups. They unravel the complexities and psychological aspects of pricing, offering invaluable insights that can help you set the right price for your products or services. This episode is packed with actionable advice, real-life examples, and the supportive, no-nonsense guidance you’ve come to expect from Humble Inc.
Key Topics Covered:
1. The Psychology of Pricing: Discover why pricing is more than just numbers. Charlie and Walker discuss the mental barriers and psychological warfare involved in pricing decisions. Learn how to avoid undervaluing your work and why it's crucial to keep the perceived value high, regardless of the effort it took to create your product.
2. Empathy and Pricing: Embrace empathy as a powerful tool in your pricing strategy. Understand the importance of stepping into your customer's shoes to gauge the true value of your offering. The hosts share insights on how to align your pricing with the pain you're alleviating or the joy you're creating for your customers.
3. Pricing Strategies for New Entrants: If you're new to the market, setting your initial price can be daunting. This episode provides a framework to help you navigate this challenge. From covering production costs to leveraging social proof and tiered pricing, Charlie and Walker offer practical steps to establish a fair and competitive price for your services.
4. Raising Prices Ethically: As your business grows, you might find the need to adjust your prices. Learn the art of raising prices without alienating your existing customers. The hosts discuss the importance of offering additional value and maintaining customer trust while implementing price changes.
In a special segment, mental health expert Ryan Casey Waller shares insights on maintaining a healthy mindset amidst the pressures of pricing and business decisions. Learn practical techniques to stay grounded and focused, ensuring your mental well-being as you navigate the entrepreneurial journey.
Whether you're just starting out or looking to refine your pricing strategy, this episode is a treasure trove of wisdom and encouragement. Tune in to gain a deeper understanding of how to set prices that reflect the true value of your offerings while fostering strong, ethical relationships with your customers.
Listen now and empower your entrepreneurial journey with the right pricing strategies!

Subscribe to the podcast to get weekly knowledge from experts around the world, and remember to Stay Humble.
Check out our platform for videos, podcasts and articles on everything a startup needs, and nothing else.
www.humble.inc