[TSE 74] How to Setup the Perfect ‘Pay What You Can’ Model with Tom Morkes

Posted on /by Natalie Sisson/ in Podcast / 2 comments
[TSE 74] How to Setup the Perfect 'Pay What You Can' Model with Tom Morkes

Tom Morkes has never been a fan of conformity, which was why he was the obvious choice to win one of 10 Scholarships that came out of my $100 Change Program in late 2012. 

What Tom suggested back then displayed a desire to challenge the publishing industry and turn it on its head through a boutique publishing service called Insurgent Publishing specifically for creatives, entrepreneurs, and artists.[TSE 74] How to Setup the Perfect 'Pay What You Can' Model with Tom Morkes

Besides bringing Insurgent Publishing to life (which I’m so proud of him for), he’s grasped onto other traditions that entrepreneurs need to survive, like how to price your products to generate real sales and devoted customers, and fleshed out how to make the ‘pay what you can’ model as effective as possible.

If you’ve not come across this pricing model before, it’s pretty self explanatory as you probably picked up from the wording. Rather than charging a set price, you ask your customers and audience to pay what they can – what they think it’s worth and what they can afford.

This may sound counter-intuitive to you if you’ve never tried it but the results can be outstanding, and that’s why in this interview, we delve into the reasons behind why the ‘pay what you can’ model works and specific steps you can take to start using it for your next product launch.

Here is what you’ll learn in this podcast:

  • What he learned from producing an online journal
  • How to structure ‘pay what you can’ pricing so you make more in revenue than if you set a price
  • Five essential components of the perfect pitch framework
  • Two options for rephrasing your eBook so you can price higher than Amazon
  • One of the greatest gifts you can give someone that will build your business
  • Six steps to the perfect ‘pay what you can model’
  • Three simple tools to use to set up your ‘pay what you can’ model
  • Which two strategies Tom used to connect with influential people like Seth Godin and Steven Pressfield

Click on the play button at the top or download this in iTunes or on Stitcher Radio (and do not forget to leave a review as we might feature yours in the next show!).

Even better pick up my completely free book on `How to Start a Podcast that Matters’ at suitcaseentrepreneur.com/free by leaving a short review on my podcast.

Connect with Tom and Natalie

Say hi to Tom @tmorkes

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Tom Morkes

Suitcase Entrepreneur

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In the comments below I’d love to know what you product or service you think you can apply this model to in the next month!