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Abraham Jankans, Founder and CEO
 Startup Market Analysis and Pricing
How Do I Know What I
 Need To Find Out?
• You Don't Know

• You Have To Start Asking Questions

 • Start a focus group

 • Build a network of professionals in the field

• Entrepreneurs Have To Be Very Inquisitive
How Important Is It to Check Out
What The Competition Is Doing?
• It's Very Important!

• Build partnerships with your competition

  • Maybe you can learn from them

  • Maybe you can do business with them

• The best strategy is to have a competitive advantage

  • Medicine vs. Vitamin
What Can Marketing Consultants
  Do For A Small Business With
   Very Little Start-Up Capital?
• Conserve Cash-Capital - Have a "Low Burn Rate"

• Try to leverage "Human Capital"

• Outsource non-essential tasks (If you can afford
  to)

• Be your best sales person

 • If you don't know how to sell, Learn!!!
How Do You Decide
   On The Right Price?
• Again, is it a Medicine or Vitamin

  • Medicine - What are the savings provided to the
    customer. If you saved them $100, charge them $95

  • Vitamin - Market & efficiencies really determines
    price

• Go to your focus group? How much would you pay
  for my product or service?

• Don't try to be the cheapest. Race to the bottom!
How Did I Learn About
      Pricing?
• "Google It" - If you can't find it, you are not
  looking!

• How did I learn pricing strategies -
  Connected with other successful
  entrepreneurs and read books!
How Does Pricing Affect Your
  Business Brand Identity?
• It's shouldn't - You've got to always be seeking out
  ways to differentiate your business.

  • Apple Computers - Not the best, but they are the
    most expensive and most successful

• Can you come up with a unique pricing model?

  • Example - T-Mobile: No-contract, unlimited service,
    one flat rate!

  • Example - Indian Street Vendors
What Challenges Did I
Have Pricing My Product

• govtHub.com - We're still developing the
  pricing model.

• Maintaining Consistency - Customers
  appreciate consistency.
Resources
• Research                              • Contractors
  • Newport Beach Public Library
                                          • elance.com
     • Free Wi-Fi

     • Free audio books                   • Virtual Assistance
                                            www.ivaa.org
  • google.com

• Learning                              • Essential Reading
  • iTunes University - Free Podcasts
                                          • 4 Hour Work Week by
  • Stanford Entrepreneurial Thought        Tim Ferris
    Leaders Podcast

  • PersonalBrandingBlog.com              • The E-Myth Revealed
Questions?

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Goodwill presentation product pricing (1)

  • 1. Abraham Jankans, Founder and CEO Startup Market Analysis and Pricing
  • 2. How Do I Know What I Need To Find Out? • You Don't Know • You Have To Start Asking Questions • Start a focus group • Build a network of professionals in the field • Entrepreneurs Have To Be Very Inquisitive
  • 3. How Important Is It to Check Out What The Competition Is Doing? • It's Very Important! • Build partnerships with your competition • Maybe you can learn from them • Maybe you can do business with them • The best strategy is to have a competitive advantage • Medicine vs. Vitamin
  • 4. What Can Marketing Consultants Do For A Small Business With Very Little Start-Up Capital? • Conserve Cash-Capital - Have a "Low Burn Rate" • Try to leverage "Human Capital" • Outsource non-essential tasks (If you can afford to) • Be your best sales person • If you don't know how to sell, Learn!!!
  • 5. How Do You Decide On The Right Price? • Again, is it a Medicine or Vitamin • Medicine - What are the savings provided to the customer. If you saved them $100, charge them $95 • Vitamin - Market & efficiencies really determines price • Go to your focus group? How much would you pay for my product or service? • Don't try to be the cheapest. Race to the bottom!
  • 6. How Did I Learn About Pricing? • "Google It" - If you can't find it, you are not looking! • How did I learn pricing strategies - Connected with other successful entrepreneurs and read books!
  • 7. How Does Pricing Affect Your Business Brand Identity? • It's shouldn't - You've got to always be seeking out ways to differentiate your business. • Apple Computers - Not the best, but they are the most expensive and most successful • Can you come up with a unique pricing model? • Example - T-Mobile: No-contract, unlimited service, one flat rate! • Example - Indian Street Vendors
  • 8. What Challenges Did I Have Pricing My Product • govtHub.com - We're still developing the pricing model. • Maintaining Consistency - Customers appreciate consistency.
  • 9. Resources • Research • Contractors • Newport Beach Public Library • elance.com • Free Wi-Fi • Free audio books • Virtual Assistance www.ivaa.org • google.com • Learning • Essential Reading • iTunes University - Free Podcasts • 4 Hour Work Week by • Stanford Entrepreneurial Thought Tim Ferris Leaders Podcast • PersonalBrandingBlog.com • The E-Myth Revealed