Could you actually earn more money for your side hustle work by letting customers choose their own price?
Tom Morkes, author of The Complete Guide to Pay What You Want Pricing, shares why the strategy works and when to use it.
His extensive research and case studies show how entrepreneurs can at once reach a wider audience by eliminating the price barrier, and earn more money from their biggest fans and supporters.
I’m really intrigued by this idea, and kind of curious to test it out next year. What do you think?
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- How Tom made nearly $500 in a month from a “free” ebook and a list of only 166 people.
- The 5 essential components of a successful Pay What You Want strategy.
- Why most customers will pay something, even when free is an option.
- How to “guide” customers into contributing more.
- How to apply Pay What You Want to service-based businesses.
- The tools to get PWYW set up on your site.
- How Pat Flynn (potentially) left thousands of dollars on the table by fixing the price of his book at $2.99.
- The 2 big downsides to self-publishing on Amazon.
- When Pay What You Want doesn’t work.
- Tom’s #1 tip for Side Hustle Nation.
- The War of Art by Steven Pressfield
- 2 Days with Seth Godin
- The Art of Instigating
- Seth Godin’s Startup School
- Tom’s post on ThinkTraffic
- Gumroad (Sexy new PayPal alternative)
- Amanda Palmer
One thing we didn’t touch on, but is an excellent resource, is a Smart Passive Income podcast where Pat talks PWYW with Anthony Vennare from TheHybridAthlete.com.
Have you ever tried Pay What You Want pricing? What do you think?
Like I said, I might give it a shot and see what happens!
5 thoughts on “31: Pay What You Want Pricing for Side Hustlers”
Truman Show moment. Yesterday morning I was going through the Fizzle (ThinkTraffic) archive and came across Tom’s post. All day I was thinking about PWYW and how I could apply to my little hobby. Then, leaving work, I fired up my podcast software and there was this podcast.
Good interview as always Nick. Keep it up!
So cool Jason! Thanks for listening and glad it got you thinking (reach out if you need help implementing)
Sweet! If you test something out, definitely let me know how it goes. Curious to explore this strategy a little more next year.
Good interview. Been thinking about this topic heavily the last few weeks as a result of a new iteration of OHW we are toying with.
Nice! Might be worthwhile to test. What’s the iteration/pivot?