Top Tip – “Getting the Price Right”
Many start ups have lower overheads than their bigger more established competitors. This means that they have a little more flexibility on their price.
The result is that that a new start up will often reduce their selling price as the new kid on the block.
But is this approach really necessary and a good strategy?
Sure lower overheads means you have a little more wriggle room when it comes to pricing but this should also be balanced with keeping your existing customers happy. Instead consider discounts for larger orders, repeat orders and multiples sales.
Keep your current customers happy and always price to the market.
Do your numbers stack up? Check out our FREE Cash Flow template here!