Setting the price of your product is one of the more important decision you’ll make as a founder. It is the final gate between your product and the market, so at The Startup Collaborative, we take it quite seriously. It’s one of the final feedback loops required before committing code for your product’s MVP.
Your starting price may not always be the most desirable margin. But, it must be aligned with the value your customers believe your product will deliver. Your pricing must incite initial customers but must also act as a signal to your value prop. Setting price is tricky, to say the least. It’s not quite an art and not quite a science.
Right now, one of our most disciplined and most customer-focused founders is determining his initial pricing strategy.
Xavier Jackson’s vision for Showcase is to make art accessible to patrons of all types. The art industry is known for expensive, hard to attainable pieces.
With Showcase, aspirational art enthusiasts get quickly acquainted with local artists that share similar values, shared experiences or affinities. From there, Showcase subscribers can pick from a variety of art pieces that speak to them. The piece is then hand delivered along with more backstory on the artist and the work. For a minimal monthly fee, Showcase subscribers can have the piece in their homes until they’re ready for their next work of art. Meanwhile, artists can collect revenue off pieces prior to their official sale.
To participate in Showcase’s price discovery, please sign up here.