How to price your product

Do not set it and forget it. I see companies do this, where they labor over designs and features. And they build this perfect product that's delightful to use. And then pricing's sort of plucked out of thin air, and then they don't revisit it.

Think about your pricing just like you do your roadmap. Every 6 to 12 months, there's probably something meaningful that you're launching for users. So, treat that as an opportunity to revisit your monetization strategy and making sure you're compensated appropriately.

If it gets you to the aha moment, that path to habit formation, that has to be free. That's the core utility of your product.

If guilt is one of the main reasons why people are paying you, then your free version is too good, and you are leaving money on the table.

The true signal of product-market fit is ultimately having people open up their wallets and pay you.

You can't retrofit collaboration. You have to be collaboration-first.

What is a day one premium feature? What is a premium feature that you can get value from the very first time you engage with the product? That's different than your day 100 features.

In business metrics, acquisition refers to gaining new customers, retention to keeping existing customers, and monetization to increasing revenue per customer.

For a 1% improvement on acquisition, retention, and monetization, the impact with an improvement on monetization was 4X that of acquisition.

Roughly half of companies that instituted a pricing change saw at least a 25% increase in ARR.

It's okay sometimes to lose some deals due to price. Something on the order of 20 to 30% is reasonable so that you can get a sense for where the limit might be.