2 posts from month 05/2013

Is Pay What It’s Worth Pricing For Me?

Is Pay What It's Worth Pricing For Me?

Explore PWIW and your intentions around creating wealth

I've created a new tool that I am excited to share with you. Welcome to the world, Is Pay What It's Worth Pricing For Me?: an exploratory checklist! I felt motivated to create this checklist to support you in answering the question, is Pay What It's Worth (PWIW) pricing right for me and my business? I understand that it's a scary concept ā€” to allow your customers to determine how they value your work. It feels like a really BIG risk.

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An Experiment in Selling Products Online using Pay What It’s Worth Pricing

After Christmas Sale I'm curious about selling products online using PWIW and how it can work best. So, about six months ago I turned some communication tools I'd created over the years into products and began selling them in my store using PWIW.

Using PWIW for an Online Store

For my experiment, I wanted to figure out a strong way of selling a product online using PWIW. My first task (I felt) was to find software to help me with the buying and selling of my products. I needed a shopping cart tool to enable the sales transaction and to provide the product to buyers after sale. After doing research I decided upon using e-junkie. I have been happy with this decision. The second decision I needed to make was how I was going to employ the e-junkie shopping cart with PWIW pricing. As with most online shopping carts, while it allows the customer to set the price of the item (often called a donation), it also requires the seller to set a suggested price.

Suggested Prices Signify Something

One of those things they can signify is what I think the thing I'm selling is worth. And for this experiment, that's not what I wanted to do. I wanted you alone to decide what the product is worth to you. But this was not, and is not, an option currently with online shopping carts ā€” to set NO suggested price ā€” so I needed to set the suggested price at something.

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