Create a value framework
For most companies, value lies in increasing revenue, decreasing costs, or increasing efficiency. Where does your product/service fit and how can you begin to create value for your customers? I’ll suggest two common value frameworks that can help you get to your first price.
Using this model is incredibly simple.
Ask yourself: What are the fully-loaded costs to build the product?
From there, add a margin for profitability. Then, you’re done.
In reality, this model can be problematic especially in the venture space where companies invest a great deal of resources into building a solution that can be scaled.