Abraham Jankans provides advice on startup market analysis and pricing. He recommends entrepreneurs ask questions to identify customer needs since they may not know initially. This involves starting focus groups and building professional networks. It is also important to check out competitors to potentially partner or learn from them, and find a competitive advantage. For small businesses with little capital, conserving cash and leveraging human resources is key. Pricing depends on whether the product provides savings like a "medicine" or market forces determine value like a "vitamin". Focus groups can provide insight into what customers will pay. The goal is not the lowest price but differentiation. Jankans learned pricing through research, connecting with other entrepreneurs, and reading books. Pric

1. Abraham Jankans, Founder and CEO
Startup Market Analysis and Pricing

2. How Do I Know What I
Need To Find Out?
• You Don't Know
• You Have To Start Asking Questions
• Start a focus group
• Build a network of professionals in the field
• Entrepreneurs Have To Be Very Inquisitive

3. How Important Is It to Check Out
What The Competition Is Doing?
• It's Very Important!
• Build partnerships with your competition
• Maybe you can learn from them
• Maybe you can do business with them
• The best strategy is to have a competitive advantage
• Medicine vs. Vitamin

4. What Can Marketing Consultants
Do For A Small Business With
Very Little Start-Up Capital?
• Conserve Cash-Capital - Have a "Low Burn Rate"
• Try to leverage "Human Capital"
• Outsource non-essential tasks (If you can afford
to)
• Be your best sales person
• If you don't know how to sell, Learn!!!

5. How Do You Decide
On The Right Price?
• Again, is it a Medicine or Vitamin
• Medicine - What are the savings provided to the
customer. If you saved them $100, charge them $95
• Vitamin - Market & efficiencies really determines
price
• Go to your focus group? How much would you pay
for my product or service?
• Don't try to be the cheapest. Race to the bottom!

6. How Did I Learn About
Pricing?
• "Google It" - If you can't find it, you are not
looking!
• How did I learn pricing strategies -
Connected with other successful
entrepreneurs and read books!

7. How Does Pricing Affect Your
Business Brand Identity?
• It's shouldn't - You've got to always be seeking out
ways to differentiate your business.
• Apple Computers - Not the best, but they are the
most expensive and most successful
• Can you come up with a unique pricing model?
• Example - T-Mobile: No-contract, unlimited service,
one flat rate!
• Example - Indian Street Vendors

8. What Challenges Did I
Have Pricing My Product
• govtHub.com - We're still developing the
pricing model.
• Maintaining Consistency - Customers
appreciate consistency.

9. Resources
• Research • Contractors
• Newport Beach Public Library
• elance.com
• Free Wi-Fi
• Free audio books • Virtual Assistance
www.ivaa.org
• google.com
• Learning • Essential Reading
• iTunes University - Free Podcasts
• 4 Hour Work Week by
• Stanford Entrepreneurial Thought Tim Ferris
Leaders Podcast
• PersonalBrandingBlog.com • The E-Myth Revealed

10. Questions?