“Just as you should place more emphasis on the benefits of your offering than on the features, you should think about basing the price of your offer on the benefit – not the actual cost or the amount it takes to create, manufacture, or fulfill what your are selling.” Chris Guillebeau

Base price on benefits offered – not cost incurred.

Rationally we get this – but how many of us small business operators actually practice this principle?

When you do this be prepared to stand your ground, because there are always people who complain about the price being too high no matter what.

Only the market can decide if it is too cheap or expensive – never one individual.

note: this rule is related to the “Golden Rules of Business” addressed in a previous post.