Hook Higher Profits (Hook Higher Profits: The Online Entrepreneur's Guide to Pricing Success)
Hook Higher Profits
The Online Entrepreneur's Guide to Pricing Success
About the Book
Starting with the story of life on a small, remote island, Hook Higher Profits describes how a market develops spontaneously, and then advances courtesy of money and prices. The book then carries this theme of the “island” forward. The same basic principles of the primitive island – individuals improve their condition by specializing and then trading with others, all value is subjective, value and preferences determine prices, and a handful of other principles – apply to the internet “island” occupied by today’s online entrepreneurs.
Readers will learn how human action and deductive logic, individuals’ subjective value and preferences, reservation prices, and price determination affect one’s success as an entrepreneur.
Then, the book puts these ideas into practice, informing readers of various pricing strategies: how to move beyond an hourly rate, how customers’ changing demand based upon prices and competition affects pricing, how to take advantage of the “Goldilocks Phenomenon”, how to use decoy pricing, and how to bring time to your side.
- Section I: Pricing Concepts
- Crusoe Economics
- Human Action and Deductive Logic
- Value and Preferences
- Reservation Prices
- Price Determination
- Section II: Pricing Strategies
- Pricing Strategy Limitations
- Graduate to a Value-Based Rate
- Gauge Your Customers’ Price Flexibility
- Profit from Your Research
- Leverage the “Goldilocks Phenomenon”
- Decoy a Pricing Option
- Bring Time to Your Side
- Anchor Your Pricing to Sell
- Survey The Internet “Island”
- About the Author
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