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062: How to Define Your Product’s Value (Spoiler: You Can’t)
So who defines what your product is worth, anyway?
If you go back far enough, you’ll find all levels of trade and exchange, ranging from gold, animals, servitude, and more. In more modern times, we use paper, metal, and digital bits as currency to exchange for the things we want.
Business happens because at one point it was agreed between people that a thing had certain value and could be traded for other valuable things.
At its essence, you might say that the value of something is determined by what someone is willing to exchange for it. But is that all there is to it?
Knowing how to price your product can be very complex, so in today’s episode we’re going to talk about evaluating the value of your product and who actually determines what your product is worth.
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By Cory Miller and Kyle AdamsSo who defines what your product is worth, anyway?
If you go back far enough, you’ll find all levels of trade and exchange, ranging from gold, animals, servitude, and more. In more modern times, we use paper, metal, and digital bits as currency to exchange for the things we want.
Business happens because at one point it was agreed between people that a thing had certain value and could be traded for other valuable things.
At its essence, you might say that the value of something is determined by what someone is willing to exchange for it. But is that all there is to it?
Knowing how to price your product can be very complex, so in today’s episode we’re going to talk about evaluating the value of your product and who actually determines what your product is worth.