4. Business Model — Charge money for the thing

There’s no formula for setting the “right” price. However, the following two basic principles of economics will help you understand why you should charge more than you think.

1. Scarcity. The scarcer something is, the more it should cost, according to the law of supply and demand. 
2. Positioning. Customers equate price to value. High-quality products usually charge a higher price and lower quality products typically cost less.