You should price based on the perceived value of your product rather than on cost, as many founders mistakenly use cost-plus pricing, which ignores the full value customers see.

Don't undervalue your product; while it's okay to start with lower prices, avoid making it a habit as it can lead to long-term pricing issues.

Pricing strategy should focus on delivering value to customers, pushing the company to improve continuously rather than adopting a low-cost model that may compromise long-term viability.

Three key parts to pricing are: 1) Understand the value equation and price at about a third of the value delivered, 2) Consider your costs to avoid pricing below them, and 3) Differentiate your product to avoid price wars with competitors.

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.

Charging for your product shouldn't come from fear of losing customers; it should be based on understanding its value to users.

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

Pricing and packaging your product effectively is crucial for attracting customers and ensuring they see value in what you offer.

Pricing should be viewed as a tool to learn about customer demand and value perception, helping to refine your product offering.