https://youtubetranscript.com/?v=3pm7wOoSkTU
I produced these software programs. One of them, the Self-Authoring Suite, is designed to help people write about their past and their present and to make a plan for the future. We were trying to price that and it was an unbelievably difficult decision. And it started me thinking about pricing. If you make it really expensive, well, that’s some indication that it’s of high value, but it limits the number of people who can use it. We thought, well, maybe we should make it free. Would more people use it? Because we have some psychological knowledge. We wanted to see if we can share this with people as broadly as possible. But our conclusion eventually was that free was the wrong price. We couldn’t generate enough profit to continually improve it. We couldn’t justify the effort that we had put into it. And so we’re likely to start looking at other things. And people might respond that something worth zero isn’t worth anything. And that was just one pricing decision. And so, you know, we set it at a moderate to low price and that seems to have worked. But it really did introduce me to the complexities of pricing.