Marketing/Growth thread by @Ernestofweb3

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𝐒𝐭𝐞𝐯𝐞 𝐉𝐨𝐛𝐬 𝐠𝐨𝐭 𝐟𝐢𝐫𝐞𝐝 𝐟𝐫𝐨𝐦 𝐀𝐩𝐩𝐥𝐞!

Was it bad management ? No.

It was his 𝐩𝐫𝐢𝐜𝐢𝐧𝐠!

Don't want to be like Steve jobs ?

Find out how pricing can make you get that Job.↓

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𝐖𝐚𝐥𝐤 𝐰𝐢𝐭𝐡 𝐌𝐞 ⬇️

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Pricing yourself effectively when job hunting, especially in discussions with founders, involves a deep understanding of both the value you offer and the budget of the founder.

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Today I'll be giving you another psychological blueprint on how to effectively price without coming off as too demanding or getting way lesser deal for the value you bring.

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Here are six ways you can effectively price;

➺ Anchoring effect 
➺ Decoy pricing 
➺ Contextual pricing 
➺ Negotiation strategy 
➺ Flexibility range pricing 
➺ Performance based pricing 

Let's get into it....

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☯ 𝐀𝐧𝐜𝐡𝐨𝐫𝐢𝐧𝐠 𝐄𝐟𝐟𝐞𝐜𝐭

This is known as the 𝐟𝐢𝐫𝐬𝐭 𝐎𝐟𝐟𝐞𝐫 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞

The anchoring effect is a cognitive bias where founders rely heavily on the first piece of information (the "anchor") when making decisions.

So in this scenario ↬

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If you’re asked to propose a salary, you can set the anchor by presenting a well-researched number.

Set your initial price slightly higher than your ideal salary. 

This leaves room for negotiation, ensuring you don’t settle for less than your worth.

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For instance, if you want $1000, you might anchor at $1500.

↬𝐁𝐨𝐧𝐮𝐬 𝐭𝐢𝐩;

Only use this when you're sure you've convinced them enough of the value you add to their team and that they feel that having you is a steal.

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☯ 𝐃𝐞𝐜𝐨𝐲 𝐏𝐫𝐢𝐜𝐢𝐧𝐠

This is done by creating a Comparison

If discussing a job opportunity, offer different pricing packages (e.g., basic, premium, and premium +).

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The decoy effect suggests that founders are likely to choose the middle option if presented with three choices, often leading them to choose a higher-priced option than they might have initially considered.

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☯ 𝐂𝐨𝐧𝐭𝐞𝐱𝐭𝐮𝐚𝐥 𝐏𝐫𝐢𝐜𝐢𝐧𝐠

This is where you put into context the projects Stage and Financial Health.

Adjust your expectations based on the project’s stage and financial health.

Early-stage projects may offer tokens or other benefits instead of high salaries.

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And if you're bullish on the project you can accept token based payments 

↬𝐍/𝐁: Make sure to weigh these offers carefully against your financial needs and risk tolerance.

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↬𝐘𝐨𝐮 𝐜𝐚𝐧 𝐜𝐡𝐞𝐜𝐤 𝐭𝐡𝐢𝐧𝐠𝐬 𝐥𝐢𝐤𝐞;

➺ How long before TGE
➺ Token vesting period 

And marketing strategies of the project to ensure long term sustainability.

(Someone messaged me this evening about this and I told him to take offer cause TGE is in 3 days)

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☯ 𝐍𝐞𝐠𝐨𝐭𝐢𝐚𝐭𝐢𝐨𝐧 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲

This involves avoiding the Number First Trap

When negotiating price, if possible, try to avoid giving the first number.

Ask the founder about the budget for the role to get a sense of their range before you anchor.

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You can also ask what they think the value you're offering is worth 

Most times they'll decline and in this case you have to use the next strategy I'd be talking about..

Let's get into it...

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☯ 𝐅𝐥𝐞𝐱𝐢𝐛𝐥𝐞 𝐑𝐚𝐧𝐠𝐞 𝐩𝐫𝐢𝐜𝐢𝐧𝐠

This involves offering a salary range rather than a specific number.

This flexibility shows that you’re open to negotiation

The secret is making sure the lower end of your range is still within your acceptable limits.

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That way it's a win - win situation regardless of the price you guys eventually fall at.

If you get lucky you might get paid the Max price

(Personally for me this is the best method I use)

That way I always get paid the Maximum amount I feel my value is worth

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☯ 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞-𝐁𝐚𝐬𝐞𝐝 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐬

This involves settling a specific price and opting for the option of a performance based price increase

You can propose a performance-based review after maybe one week or one month.

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In this scenario, your pay could be renegotiated based on your contributions to the project’s growth and you could start earning way more than you were earning in the first place.

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↬ Other things you can do to ensure that your pricing is more effective;

➺ Offer Value First
➺ Position Yourself as In-Demand
➺ Give an exclusive offer
➺ Use psychological principles
➺ Be confident in negotiation 

Read the thread on value over price to understand more

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Here's a two thread series that can help you with psychology while job hunting.

x.com/Ernestofweb3/s…

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↬Another Bonus tip;

☯ 𝐅𝐫𝐞𝐞 𝐖𝐨𝐫𝐤 𝐂𝐚𝐮𝐭𝐢𝐨𝐧:

Be cautious about offering free work, especially in new projects, as this can sometimes devalue your position.

You can also end up not getting paid.

So make sure the project and founder is funded

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☯ 𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧

Pricing yourself effectively in job hunting, especially when dealing with founders, is a delicate balance between understanding your worth, market conditions, and the psychological principles of negotiation.

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By using these strategies, you can ensure that you’re positioning yourself for the best possible deal while aligning with the founder’s vision and constraints.

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Finally, I know you just bookmarked this thread 🔖 

But no, that means you're dumping it
Go back and learn, learn so you do better.

You're destined for greatness

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I hope you've found this thread helpful.

Follow me @Ernestofweb3 for more.

Like/Retweet the first tweet below 👇

Ernest out!🥷

Ernest🧩🖤@Ernestofweb3

𝐒𝐭𝐞𝐯𝐞 𝐉𝐨𝐛𝐬 𝐠𝐨𝐭 𝐟𝐢𝐫𝐞𝐝 𝐟𝐫𝐨𝐦 𝐀𝐩𝐩𝐥𝐞!

Was it bad management ? No.

It was his 𝐩𝐫𝐢𝐜𝐢𝐧𝐠!

Don't want to be like Steve jobs ?

Find out how pricing can make you get that Job.↓

𝐒𝐭𝐞𝐯𝐞 𝐉𝐨𝐛𝐬 𝐠𝐨𝐭 𝐟𝐢𝐫𝐞𝐝 𝐟𝐫𝐨𝐦 𝐀𝐩𝐩𝐥𝐞! Was it bad management ? No. It was...

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