I have seen many businesses struggling because they do not understand their value in the marketplace and they underestimate the full cost of operating a business. Pricing products and services too low or giving a DISCOUNT without thoughtful consideration or a solid plan can be a recipe for disaster.
It's a natural response to use low prices to gain new customers or try to keep existing customers. However, you may be setting expectations that don't leave enough profit (margin) to provide excellent customer service or solid profits, so you won't be able to keep a satisfied customer for the long run.
If you are truly providing value, customers will pay for it. Don't sell yourself short.
Equipping and Encouraging Entrepreneurship
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