Transmission #8: Pricing & Finland 🇫🇮
How to price your stuff right and how the downfall of Nokia started new beginnings
Read Time: 5.20 Minutes
This is a ‘Transmission’ from the Jupiter Dispatch, featuring curated links and stories to provide you with new ideas, growth tactics, and frameworks tailored for european entrepreneurs.
Servus Friend,
In today’s ‘Transmission’ we’ll dive into how you can price your products or services at the right Level. We also have look into how Nokia and its demise triggered a new era in Finland. 🇫🇮
Finally I’m back from a long road trip and ready again to send you some new content in the next weeks.
So have fun and always price right
Today’s List of Stuff:
🧑🤝🧑 How you really anker your price 🤑
🛞 How Nokia re-invent the wheel 🤳
#Domi's favourite 5 - Random Price Edition 💰
#1 🧑🤝🧑 How you really anker your price 🤑
Let’s talk about pricing.
Why you may ask?
Because nearly every business is shit in pricing. Even if we look at Apple. Their price-points between the different Mac’s or Ipad’s looks somewhere off to me.
Pricing done right is not only making you richer. It can also drive your sales in higher directions. Think of luxury brands here. Their products are often not that better, but the high pricing makes them scarce.
Another great tactic in how you can influence the customer with pricing is the following example here:
So yes you should definitely invest some hours in learn more about pricing.
Or at least the next 20 mins with this video from famous YC-Partner Kevin Hale…
It’s maybe not obvious, but pricing is a key part of your growth strategy. That’s why I brought this up to your attention here.
You don’t need a lot of deep knowledge. Some basics tactics are enough to win against your competition.
#2 🛞 How Nokia re-invent the wheel 🤳
Today we talk a bit about european startup history… We talk about Finland 🇫🇮
Finland is in terms of people, one of the smaller euro countries with around 5,5 million citizens. But a strong leader innovation and the most happiest people in the world.
But how on earth, this nation with wide lands, a lot of snow in winter and disgusting Food-Traditions, can be that good in startups?
Here’s the story…
Of course all started with a “little” rubber boots and car wheels producer named Nokia.
As we all know today, “little” Nokia decided go from rubber to tech. And boy, that lead to a great success story in the 90s and 2000s.
But after nearly everyone owned a Nokia-Phone, a guy called Steve brought us the Smartphone and the End of Nokia as we know it.
But the real interesting stuff for the startup economy in Finland happened after that painful event. Because of all the patents with the Nokia phone, Finland had now a lot of folks with a technical background and a lot of money which can be invested.
So many of the old Nokia folks went into starting their own tech companies. And if you remember “Snake”, you may guess which kind of companies got started.
Yes gaming. Especially mobile gaming…
You played Angry Birds in the past? Or you still playing Clash of Clans?
What if I tell you this is all from Finland and just happened because of Nokia?
Mind blowing or?
Rovio Entertainment and Supercell are making billions today. Billions. So remember, every downfall can start the next big move.
This is a great example of making the right use of what you have right now. This is the textbook version of Effectuation.
Here is the full story for more…
I love stories like this. Shows that there is always a new door, if a old door is closing.
In former issues I talked a lot about Slush and their great Podcast Soaked. Give them a visit. They are also a product of this story.
#Domi’s favourite 5 - Random Price Edition 💰
Here some cool Reads from last Week:
Tesla.com: The secret Tesla Master Plan (by Elon Musk)
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Hey Nanna I work in Tech, my Main Topic is Backend-Engineering… You understand or? 💻
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Have an epic time, see you soon for the next Transmission…
👋
