Judelson: Customers dislike paying for value companies did not work to provide
Adam Jiddelson · Show You Care and Let the Market Teach You · Jan 25, 2024 · at 32:40
Adam Judelson, founder of First Principles Catalyst, explains consumer psychology regarding product pricing and cost justification.
0:00 / 0:08exact quote · 8.7s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“I think the other thing too, though, is people don't like to pay for value that they don't feel like the company that's providing it had to work for.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Adam Jiddelson
Judelson: People Who Need Daily External Pushing Do Not Succeed as Founders
“I think there's certain personality types need somebody to be pushing them every single day, but I honestly don't think that those individuals become successful entrepreneurs anyways.”
Judelson: Approach Role Models Atomically Rather Than Replicating Entire Lives
“To me, the idea of, like, looking up to someone, it's always like, oh, like, it's a strange philosophy for me, because it means that you think their life is sort of better than yours, and you want to achieve the things that they've achieved, whereas I look at …”
Judelson: Early VC Eases Initial Growth but Sacrifices Founder Control
“Founders who go and take a bunch of venture capital in the beginning, it's amazing because it's a lot easier to grow quickly in the beginning with that. You can hire the right people. You can start off on a good foot. You don't have to Bootstrap. There's a mil…”
Jiddelson: Desired lifestyles require 10x income growth, not 100x
“To construct the lifestyle you want might only be one order of magnitude higher than what you currently make. It's not like a hundred x or a thousand x”
Judelson: Airlines Charge Customers to Avoid Pain Rather Than Appreciate Comfort
“The product lesson is the airlines are asking you to pay to avoid Pain. They're not asking you to pay to appreciate comfort. And don't get me wrong. You can build a business on either model, but the businesses that I respect are the ones that ask you to pay to…”
Judelson: SaaS pricing tiers should offer positive value rather than avoid punishment
“And I think that's important to really think about what that distinction is when you're offering different tiers of services. Like it should be something that makes the person feel good, not something that makes the person feel, again, like they avoided punish…”