Matthew Gillogly walks through how to price your product by working backwards from cost of goods sold. He covers the basic business principles that determine what customers will actually pay.
So how do we know what the best price is? Why do we want to know what we want to know the best price of? What do we want to charge? Well, simple. The best thing to do is follow the science of pricing. Now, in our events, we always talk about this, but the best thing to do is work backwards using basic business principles for pricing. The first basic concept is a concept of cost of goods sold. Well, what is cost of goods sold? The cost of the goods sold is everything that goes into the production of the thing.
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