Steps of a Pay-What-You-Wish Cycle
The interaction model is straight forward
The supplier listens to the customers, asks questions and creates a proposal for a first cycle - this can be in form of a briefing. The proposal never includes a price tag. It can include a budget for third party costs. Make sure it contains start and end dates. Payment period. And what you expect from the customer in the form of collaboration.
The proposal is discussed. Specs can be adjusted. When both sides agree - they are in business.
Value is created by the supplier. The customer contributes to the creation of value. The supplier documents the creation process of the value. Share the progress with your customer!
At the end of the cycle, the supplier prepares a short report for the customer. Good documentation during the cycle makes it easy to prepare the report. The report is presented to the customer. The customer can ask questions.
After receiving the results the customer has a set time to reflect on the value (ideally 2 working days) and to set the price. There is no minimum and no maximum. The supplier now prepares the invoice, which is due within the time frame of the agreed on a proposal
Debriefing: ideally customers and suppliers meet shortly after the end of a cycle for a debriefing. What went well? What can be improved? Next steps → Briefing inputs for the next cycle.