London restaurant to launch pay-as-much-as-you-like scheme

“The Soho restaurant is introducing a new tapas menu on 9 July and every Wednesday will forgo producing a bill asking diners instead to pay what they think their meal was worth.”

A very good point. Many people would likely take the lowest cost option when given the opportunity to select their own price.

I suspect the best way to manage that is to set that lower price just above the lowest we’re willing to accept and increase from there, putting our ideal price midway and having a dream price at the top.

That’s just a theory though. What do y’all think?

@Hello—Hello! Thanks for your comment! I’m looking forward to trying it, and it’s good to hear that it’s worked for others.

Ya know, Microconsulting should have been free with a tip jar. I’d probably make more?

Thanks for checking in

Recent blog post from Crystal: Dear Santa: A New Design Wishlist for Big Bright Bulb

For 30 seconds work. And I’ll say, “nothing”.

And they still give me $20 or $40…

Recent blog post from Brett Legree: viking fridays – wake early.

I think there are many ways to use this model wisely and/or well, and now I’m cool with trying it because I see how to manage the risk and y’all didn’t laugh me off the Internet Here’s why it matters:

I have a decently-trafficked directory website that’s overdue for a redo and an expansion. I guesstimated a multi-featured premium listing would be worth $25-$45/year? Then I came to find a directory website for the same market, though different in implementation/execution, that has a fine collection of folks paying $695/year for a listing. Imagine my surprise that the market consider an online listing (at least on that site) to be that valuable?

Making the directory valuable is my job, but with those numbers in mind, maybe setting (or selecting) the price should be left up to the customers…

Funny how we see parts of our own business as separate or united in different ways than fresh eyes see it. You’ve got me seeing both ideas differently now — thanks.

The things you know simply boggle me. Always a pleasure

And thanks for the feedback on the issue of business size/scale for this kind of thing. That’s not something I have experience with, and definitely something to keep in mind—another area where small can be a very good thing. Or at least, another way to leverage being small…

Particularly with the Anthony’s comment on pulling quite the happy dollars for those brief support calls…

@Anthony—Again: how cool is that?! I’ve been thinking of using the “whatever you want” pricing on a membership site, but wasn’t sure how it would/could work with a support-type scenario. What a fantastic experience for you, from $10 to $500, and what a perfect example for all of us. Big thanks!

@GirlPie—Howdy! Wasn’t it you who has an annual freebie call-in day as a client list builder? If so, this would be exactly that, just not (ideally) free.

But for your day-to-day work, I can’t begin to imagine how existing clients would react to a change from posted rates to something kin to “whatever”! Okay, not really that loose, but potluck pricing may seem that free-wheeling in comparison. Many thanks for your thoughts and another question: What’s the best way to transition from a fixed payment system to potluck payments?

Thanks tons for your ideas and feedback y’all. I thought this a bit mad, but from your input I see that it’s quite effective, and has a history of being so!

Blessings to you

MAYBE on just one type of ‘special’ service — like an “Ask What You Like, Pay What You Like” 10-minute phoner option, similar to Anthony’s comment.

Hmm… lots of good stuff to think about here, fun post, thanks!