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TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

Asking customers about their budget and what they currently pay for similar solutions helps gauge their willingness to pay.

Video

LP

A framework for finding product-market fit | Todd Jackson (First Round Capital)

@ Lenny's Podcast

A framework for finding product-market fit | Todd Jackson (First Round Capital)

04/11/24

Related Takeaways

HI

Harvard Innovation Labs Cast

06/12/13

@ Harvard Innovation Labs

When discussing a potential solution with customers, always ask them what specific problem you would be solving for them and what they would be willing to pay for it.

HI

Harvard Innovation Labs Cast

06/12/13

@ Harvard Innovation Labs

If customers express a willingness to pay for your solution, consider asking them for a commitment, like writing a check in advance, to validate your idea.

EM

Eric Migicovsky

07/26/19

@ Y Combinator

Understand the size of their budget for solving the problem to ensure they have the means to pay for a solution.

TB

Tom Blomfield

07/26/24

@ Y Combinator

To determine pricing, explore how your target customers pay for similar software products, whether it's a flat fee, per usage, or other structures, and align your pricing strategy accordingly.

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

You need to confirm customers' ability and willingness to pay for your solution.

EM

Eric Migicovsky

07/26/19

@ Y Combinator

It's important to ask how much the problem costs them today to gauge the financial impact.

GT

Garry Tan

10/18/19

@ Garry Tan

Discuss your pricing strategy and how you determined your price points, including customer segments willing to pay different amounts.

MC

Mathilde Collin

10/25/18

@ Y Combinator

It's important to release your pricing early to confront the market and gather feedback from paying customers, rather than being overwhelmed by opinions from those who won't pay.

MC

Mathilde Collin

10/25/18

@ Y Combinator

To gauge if people are willing to pay for a product before it's fully developed, I asked potential users what they would give for access, which led to creative responses.