Treat pricing like a product feature

Do not set it and forget it. I see companies do this, where they labor over designs and features. And they build this perfect product that's delightful to use. And then pricing's sort of plucked out of thin air, and then they don't revisit it.

Think about your pricing just like you do your roadmap. Every 6 to 12 months, there's probably something meaningful that you're launching for users. So, treat that as an opportunity to revisit your monetization strategy and making sure you're compensated appropriately.

You just have to do something once a quarter. That's it. I've been trying to teach about pricing for a decade now. I've done a lot of different approaches on this, and I think the easiest thing is, listen, you have three growth levers. You have acquiring customers, monetizing them, and retaining them. You're spending a lot of time and money on acquisition. You're spending some time and money on retention. You're probably do nothing on pricing and monetization.

I think a lot of people, for example, think pricing is a trapdoor decision. But actually, it's really easy to grandfather your existing users into some existing pricing model and change pricing for future users. And if you believe that the product's going to be successful, your early users are only going to be a fraction of that pricing model.