Starting a new business is an exciting adventure. You’ve got this great idea for a product that you can’t wait to deliver to customers. And once they have it, you want feedback on how you can make it better. But delivering an awesome product isn’t the only critical input. In order to survive in the marketplace, you must determine a monetization strategy for your product. And that’s where many budding entrepreneurs stumble.
Figuring out how much you want to charge, in which formats, and with what frequency is a lot to consider. And that’s not taking into account all the other variables you are managing - customer feedback, issue resolution, and product development, to name a few.