Chess is an age old game and creates a highly competitive situations for the individuals. Many lessons from chess game are quite apt to run a startup, here are few that I can think about
Experience does make a difference: Your startup may be new, but the experience of founders does matter a lot. Experienced members know how to avoid mistakes. Mistakes can be costly especially when you have just started. Experienced team members also know how to fix even if the mistakes are made Continue reading →
A new Watercolor painting of Shrinathji completed in 2-3 days flat. The tough part was to made watercolor the jewels look like to real gems and smile of Shrinathji. I was woried if I would be able to make the expression as a smiling face. The 2 big diamonds on the nose and chin were making me nervous. But it turned out well in end. I was told the background of Shrinathji make it special but it’s feeling of making this watercolor painting that made it special
This was made in 300 GSM watercolor paper size 12″ x 16″
One of the most of common objection in the introduction of a new offering is the PRICE, be it’s a product or a service. While a Startup would like to position itself on the top of pricing pyramid for better margin and branding purpose, this situation is a bigger challenge especially for a start-up, Why?
A startup brand is not recognised and hence value perceived from offering is not very clear or acceptable
A bottom end pricing policy may pose difficulties in charging higher prices later on
A bottom end pricing gives an impression on cheaper or lower end offering
So how does a start-up keep the pricing of its offering at a higher end, yet it may appear like a good bargain. Some are easy way to do so are listed here
Make an expensive variant and place it on the side of the general offering
This is called contrast effect the expensive offering is making the general offering looking like a bargain.For e.g, in case of a LED TV, big screen TV is advertised at very high price and normal TV at a slightly higher price than comparable TV of other brands. This gives an impression of a company in high-end technology product and normal TV screen is a bargain at this price.
Mistake in Pricing can be really costly, it not only fails your startups offerings, but you can risk your reputation forever
Pricing a new offering is always a big challenge for the startups. Being new it always a difficult compromise between market growth and pricing product on higher bracket, this article gives some simple tip to startups for getting the pricing tips right. Continue reading →
Never think there is anything impossible for the soul. It is the greatest heresy to think so. If there is sin, this is the only sin; to say that you are weak, or others are weak.