I Chose Integrity And Premium Pricing To Attempt PMF Quickly
95% startups fail.
Knowing that most startups fail, I focused on failing fast in my consulting venture.
I spent 14 minutes writing this blog. You need 2 minutes to read this.
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Goal: Prove Or Disprove Success
My goal was to quickly determine whether this business could succeed. The sooner I can prove it will or will not succeed, the earlier I can start a different career path.
Instead of following a medium-reward path, I made clear, decisive choices early.
Integrity And Optimism To Return Fees
I didn’t want to take false hopes (false optimism) from customers. I prioritized integrity over short-term financial gain.
For example, one of my first coaching clients worked on resuming editing with me. After getting my help and ensuring his job search was on track, he chose not to respond to me or engage in post-session assignments. It seemed he didn’t get value from me. I refunded his fees because I didn’t want to keep money without providing real value.
No Low Fee Clients
I avoided charging low fees to attract initial clients. While many new consultants take this approach to build a portfolio, I relied on my product management experience to secure jobs. I aimed to prove my worth by setting sustainable prices from the start.
Early End To Consulting Projects
When I realized I wasn’t adding value to certain clients, I proactively ended consulting projects. This ensured I wasn’t charging for work that didn’t benefit them. Upholding integrity and focusing on true value were critical to my long-term goals.
Challenges And Solutions
Challenge: Risking early income by rejecting low-fee work.Path: I committed to charging premium prices, demonstrating the value of my expertise and setting a long-term standard. What if I get low-fee work but no one will pay me the fees I want in the future?
Challenge: Attracting clients without a consulting portfolio.Path: I leveraged my product management experience to showcase my skills and targeted clients who recognized this value.
Challenge: Ending projects could result in income loss.Path: By prioritizing client interests, I built trust and a reputation for integrity. I hoped these will lead to referrals.
Rethinking My Decisions
A startup mentor was stunned when I asked him, “What is the fastest path for me to prove my business will fail?”
In retrospect, I don’t know whether critically thinking made my business more successful. I would rather have done case studies by charging less money first. But, this is easier to think in hindsight. See Free Consulting Projects For “Exposure”.
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