ProfitLed Podcast
Most startup advice is built around venture capital, hypergrowth, and unicorn exits. ProfitLed is for the rest of us. Hosted by Melissa Kwan, 3x bootstrapped founder and CEO of eWebinar, ProfitLed explores what it's really like to build a company on your own terms, without an abundance of resources and friends in high places.
Season Three goes beyond strategy as we explore the intersection of Passion, Profit, and Purpose and what happens when founders evolve and come into financial success.If you're building something real, this one's for you. **Connect with Melissa at melissakwan.com**Brought to you by eWebinar.com**
ProfitLed Podcast
5 Pricing Decisions that Turned Out to be Costly Mistakes | S2E24
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Should you “do right by your customers” at the expense of the company, your team, and your own wellbeing?
Your answer might be “yes”, until you realize a small change that customers would barely feel could mean instant profitability for your bootstrapped startup.
Having said that, hindsight is always 20/20. There are some mistakes that you just have to make yourself, no matter how many warnings you get.
On this episode, Melissa and Todd share the five pricing mistakes they made, why they were so costly (including one that would’ve given them $30k/month overnight), and what they could have done differently.
Takeaways:
• The pros and cons of not offering annual plans
• Why you need to put usage limits on your trial period
• Why “being fair” has little to no impact for your customers
• Why you shouldn’t grandfather and increase pricing across the board
• The importance of understanding every cost that drives your platform
Show notes:
- Find show notes of each episode on ProfitLed.fm.
Connect with our host:
- Follow Melissa on LinkedIn where she shares stories & lessons from her founder journey weekly.
- Connect with Melissa at melissakwan.com and subscribe to 'your founder next door', Melissa's weekly newsletter on what it's like to build a company without an abundance of resources and friends in high places.
- Follow @themelissakwan on Instagram and YouTube where she shares short videos of business advice and other truth-bomb sound bites.
This podcast was brought to you by eWebinar:
Find out how you can turn pre-recorded videos into interactive experiences with chat so you can run your demos, onboarding calls, and training sessions on autopilot, 24/7, without being there. Hop into a demo at eWebinar.com, no salesperson required.
