Monetization Playbook #2: How to price a completely new product or service

Setting your initial Price can be daunting. Price too high! Tumbleweeds! Price too low. You'll be leaving money on the table. And no-one likes leaving money on the table!

So how do you derive an optimum initial price? Well, first off, just like kicking a game-winning field goal in the last second of the Superbowl––it's unlikely. However, there is a strategy that will help you at least get to the play-offs.

With a mixture of economics, psychology, and a tiny bit of math, you can price a completely new product or service with cautious optimism.