Economics of your startup

Usually entrepreneurs describe their products & services as they see them. It’s important to describe them from your customers’ point of view. Look the difference between features and benefits of your product/service, and think about them. You need to build features into your product so that you can sell the benefits. You also need to think hard and strategize on what after-sale services you will be giving? Some examples can be delivery, guarantee/warranty, service contracts, support, follow-up, and refund policy. Read the full post HERE

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Pricing Strategy for your Startup

Pricing your products/services is not only a key to your sales success but also for the health of your Startup.  Both high and low prices than optimum will hurt your business. High prices in the beginning may throw you out of the game, and low prices will cost you more. So you must charge enough to make a profit while being in the game. A well thought-out pricing strategy takes some effort but is worth the time spent.

Read the full article at: http://www.stratessence.com/blog/pricing-strategy-for-your-startup/

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