price

So you’re starting a new business. You figure that you can undercut the established competition because you don’t have their overheads. You are about to make your first two mistakes as a business person. Firstly, you are relying on your low prices to get business, whereas you should be differentiating yourself so that you stand out from all the rest. Secondly, if there’s not some extra fat in the price, you’ll never grow, or if you do, you’ll soon run short of cash and won’t be able to afford the overheads that are necessary to sustain growth. So, stop thinking…