Grow Your Business

“How much should I charge for my product?” (and other answers from GrowthLab YouTube)

Which would you rather have: Boilerplate business advice from a talking head “thought leader” lecturing about the “basics of business” based on theory and hypothetical “best practices”?

Or crunchy, tactical, hard-won knowledge that comes from other entrepreneurs sharing what’s actually happening with their business right now?

If you’re like us, you said the second one. Definitely the second one.

With that in mind, we’ve rounded up some of our favorite videos from the GrowthLab YouTube channel, featuring real entrepreneurs bringing us real problems they’ve run into with their business. (And be sure to subscribe to our channel here.)

How to create the perfect customer survey [5 min.]

Even at GrowthLab, we occasionally find ourselves not quite sure about where we should go next when it comes to building products.

Okay, so maybe it happens more than “occasionally.” 

What do we do when that happens? We take it to the people who know better than anyone else what we should build — our customers — in the form of a well-thought-out, well-designed customer survey.

What should I charge for my product? [3 min.]

Pricing is a balancing act: charge too little, and you might not be too happy with the kinds of customers you attract. Set your pricing bar too high, and your dream customers may say “No thank you” and move on.

So it’s well worth being thoughtful, and above all, intentional about how you price your product — and why.

It’s not passion, it’s positioning [9 min]

“Passion project” doesn’t have to be synonymous with “thing that will never make money.” A lot of the time, when you’re passionate about an idea, but that passion just isn’t converting into sales, the problem isn’t that the idea is wrong — it’s that you haven’t positioned it correctly.

How to convert visitors to register for your site or app [5 min.]

So you’re trying to get customers to do a thing, like enter their information or complete a form, and they’re just. not. cooperating. Customers, right? So protective of their time and attention, with their “lives” and their “responsibilities to their families.” It’s annoying. 

In all seriousness, the culprit in a lot of cases where visitors to your site won’t follow through with what you’re asking of them? Too much complexity. People just don’t want to work that hard to sign up for something they’re not even sure that they want.

Our advice: simplify, simplify, simplify. And before you put your product on the other side of some ridiculous hoop — make sure they actually care enough to make the leap.

What to do when you’re scared of “what’s next” [4 min.]

If you’re like Will, the founder of EDM Tips, it probably felt like you would never get to a point where you were generating revenue with your business. Now, all of a sudden, you are — and you have no idea where to go from here.

If this is you, first of all: 90% of entrepreneurs — including 18-months-ago you — would kill to be where you are now. So celebrate that. And second: if you feel like you don’t know what’s next for your business or what you need to do to make it grow, it’s probably because you’ve lost sight of the critical numbers of your business.

Got a specific problem with your business that boilerplate business advice just doesn’t cover? Tell us about it in the comments below! And subscribe to our YouTube channel here to get notified when we post one of our weekly videos.

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I find that lots of startups / businesses often charge too little. I know it can be counter intuitive, but charging more can actually increase your sales, especially if you are articulate the value of your product/service.

I.e. If people want a premium experience but you are trying to charge a discounted price there is a disconnect there and they may not think what you provide matches what they are after.

That said, I still do struggle with this myself. My startup Task Pigeon is in a competitive space. Lots of my competitors offer free tiers and low cost plans. It can be harder to break out of the mould in that instance.

Katie Parrott

“Charging more can actually increase your sales, especially if you are articulate the value of your product/service.”

I love this insight, Paul! Especially because I know it’s something a lot of solo entrepreneurs struggle with. They can’t quite believe that *anybody* would pay them, and so they wayyy undercharge, almost as a way of apologizing for asking money at all.

Has this happened to you, specifically – raising your prices actually resulting in *more* sales?

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