Concept
Monetary Friction
Barriers related to cost, pricing, and payment that prevent users from starting or continuing
Monetary Friction
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Yeah, I think a lot of this has to do with, we call it monetary friction. So one of the hardest things to do with a business is when you're getting started, is you might not have any revenue coming in, and you are kind of bootstrapping,…
And so typically when you can lower the barriers to monetary friction in some form, that could be all sorts of monetary friction early. The common belief is that we'll usually get lower quality folks coming in the door, because usually…
If you think about in a business case, if I give you a little monetary boost and reduce that monetary friction, I can actually causally change your ability to become successful, because I've given you a little bit more time to try that…
Concept
Monetary Friction
Barriers related to cost, pricing, and payment that prevent users from starting or continuing
Related Concepts1
Related Frameworks2
Related Practices5
Ask about this concept
Transcript mentions
Yeah, I think a lot of this has to do with, we call it monetary friction. So one of the hardest things to do with a business is when you're getting started, is you might not have any revenue coming in, and you are kind of bootstrapping,…
And so typically when you can lower the barriers to monetary friction in some form, that could be all sorts of monetary friction early. The common belief is that we'll usually get lower quality folks coming in the door, because usually…
If you think about in a business case, if I give you a little monetary boost and reduce that monetary friction, I can actually causally change your ability to become successful, because I've given you a little bit more time to try that…