Price and the $5 Milkshake

Warning…video contains explicit material

Have someone ask some of your customers if they would gladly pay a little more for your offering. If they would, you're probably charging the right price.

Price should not be based on cost because your customers don’t care about your cost. They only care about how their purchase made them feel. So the goal is to make someone feel happy about the value they received…so happy in fact that they might feel like they’ve stolen something. Otherwise, it’s surely not worth talking about.