Pricing isn't permanent; it often takes years to capture the full value of your product, so don't worry about maximizing value early on.

Most startups are undercharging, and relying solely on lower prices as a differentiator is not a sustainable strategy.

Pricing implies value; if your price is lower than competitors, customers may perceive your product as less valuable.

When pricing your product, focus on the value it delivers to the customer rather than just the cost of providing the service.

Discounting your product can be detrimental; instead, structure discounts based on value and urgency to encourage sales.

Pricing isn't permanent; you can adjust it over time as you learn more and add value to your product.

Pricing below cost can be a risky strategy for gaining market share, often leading to unsustainable business practices. You might want to price a little lower now because your margins are going to improve with time, but it's a risky maneuver, and I advise startups to maintain an 80 to 90% gross margin.

It's crucial to never start pricing based on costs; instead, use the value equation as a foundation and let costs serve as a minimum threshold for pricing.

To summarize, charge appropriately, price on value, recognize that most startups undercharge, understand that pricing isn't permanent, and keep it simple.