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Price a product with no customers in five steps

A two-week plan for a first price

Process showing five steps to price a product with no customers: set anchors, talk to buyers, test prices, ask for money, launch and revisit.
Five steps, about two weeks. Most founders stop at step two and skip the deposit.
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A five-step plan for setting a first price before you have customers. Start with your cost floor and what buyers already spend, talk to 15 to 20 buyers to find a range, test five to seven prices with about 30 people, then ask a few of them for real money before you launch. It is meant for founders pricing a new product, and it treats every price as a hypothesis to revisit.

Where this appears

What's in this process

  1. Set your floor and anchors: Your cost per customer, what buyers spend today, what alternatives charge.
  2. Talk to 15 to 20 buyers: Ask about current spend, then the four range questions, with a reason for each.
  3. Test 5 to 7 prices with about 30: One price at a time, started at different prices, with a why after each.
  4. Ask for money: A refundable deposit, a pre-order, a paid pilot or a letter of intent.
  5. Launch, then look again: Revisit the price after your first 20 customers.

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