6 posts tagged pricing

Pay What It's Worth

What If You Didn’t Set Prices?

Have you ever considered why you choose to set prices? For most of us, we set prices because we have been taught, and we believe, that if we do not, our customer will not pay fairly for the item of value we are selling. This feeling, of others not being willing to pay, is based upon the assumption of scarcity that permeates, and is the foundation of, our modern economy and economic theory. >> Read the rest of the article on Local Organics Food Co-ops Network's blog. As my new book ...

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photocredit: Paul Nicholson

An Economy of Scarcity?

Economic theory is based on the assumption of scarcity - why is that? Aren’t we, collectively, always creating and printing more money? It's not a limited resource, so why do we use it like it is? We can't run out of it. It's not clean water. Or pandas. We make it, and we can always make more of it. So why should we believe and act like it's going to run out? I make a conscious choice to live in a world of abundance, not scarcity. And that includes money. In Paying What It's ...

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Pay What Its Worth - the book

Pay What It’s Worth: The Book

After five years of experimenting with not setting prices, in Pay What It’s Worth: Building Your Sustainable System for Not Setting Prices, I introduce this pricing innovation and share integral strategies for creating a balanced exchange experience, empowering both your customer and you to fairly value what's being exchanged. explore how an open pricing system with Accountability. Norms. Disclosure. creates and sustains a relationship of Mutual benefit. Exchange. Connection. ...

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Building Blocks on My PWIW Path

I was all set to release my first book on Pay What It's Worth pricing last week, a book I've been writing in one form or another for, I don't know... six years or so, but life got in the way, as it does. Life, it seems, had a bunch to teach me, and specifically about PWIW. Life had me thinking my book was a terrible lie. And then it had me thinking that there was so much missing from it. See, that's my problem with Pay What It's Worth... always has been. There's just too much to ...

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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 — to set NO suggested price — so I needed to set the suggested price at something.

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