{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"What Works","title":"EP 208: Pricing By The Numbers With Systems Saved Me Founder Jordan Gill","html":"","width":"100%","height":180,"duration":2832,"description":"\n\n\n\n\nThe Nitty-Gritty:\n\n\n\n* How Jordan Gill used data and experience to set competitive prices for her business operations firm* Why she focused on serving seasonal service-based businesses and how that impacts the way she delivers her service* The stat she used to figure out a new way to offer her services* What expenses Jordan accounts for in pricing her unusual offer\n\n\n\n\n\nSometimes the numbers top you in your tracks.\n\n\n\nIt was the summer of 2017. I was on a bonus day of vacation with Sean and Lola because our original flight had gotten canceled.\n\n\n\nWe were on the way to Sean’s grandmother’s lake house and I thought I’d check in on my email quick since I’d be coming back to work a day later than planned.\n\n\n\nStaring at me from the top of a stack of unopened emails was an email informing me that, soon, 30% of our membership revenue was going to flow toward Apple instead of our bank account.\n\n\n\nMy stomach sank.\n\n\n\nThe still-new community wasn’t even breaking even yet and now we were going to have to give up 30% of our revenue to the world’s richest company?\n\n\n\nI panicked.\n\n\n\nLuckily, even in my panic, I read through the email a few more times to check the—unbelievable—details. It turned out that Apple was going to take 30%—but only for memberships that originated in our app.\n\n\n\nOkay, crisis averted. But in the time between my panic and realizing what was really going on, I had already started to concoct a plan.\n\n\n\nMy plan was simple: we needed a serious influx of new members to offset the potential hit to our revenue. So… get this… I decided to drastically reduce the price of membership from $60 per month to just $15.\n\n\n\nYes, that’s right, when faced with the potential loss of 30% of our revenue, I made a decision to lower our prices.\n\n\n\nHear me out: I thought that by lowering the price to something more akin to a piece of software you subscribe to, I could build our customer base by hundreds—if not thousands—while maintaining our current expenses.\n\n\n\nThis did not...","thumbnail_url":"https://img.transistorcdn.com/AmfGeDL96-fhMaeOcqmX7TK_eWrvTLco6OJj2QpZtZI/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS80NGUx/OWY5ZDg1M2E5MmU3/ZjEwOWVmNDM3MWVh/ZjZlOS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}