Home Business: Common Mistakes Made
| Business : Home Working One of the most common mistakes that people make when running a home business is that they often pitch their prices too low. The net effect of this is that they actually lose business because there is a perceptual link between price and quality of product. Usually a lower price means a lower quality product. Of course with goods such as in the supermarket this is no doubt true - but with services offered by businesses of course price can vary greatly for the same quality deliverable. However the perception is rooted in and not breakable, therefore you should always remember this and have the confidence to charge the price that you think you are worth. Therefore if you want to get your first few clients, don't offer freebies but rather just drop prices off your ideal level by abount 5- 10%. As soon as your prices get more than 25% below your competitors then people will actively be put off buying because you are too cheap.
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