This small business advice, try not to compete on price should be changed to DO
Watch the competition but do not compete on price
NOT compete on price, but that may be a bit hard to take. Watching what the competition is doing is important, but following blindly when many are discounting madly could lead to disaster. Here is what Michael Hess has to say in his article on ‘Why you shouldn’t stress about the competition‘. I especially like how Micheal offers an alternative to competing on price.
Small Business Advice – try not to compete on price
Pricing: This is probably where competitor-obsessed decision-making is most dangerous, especially for small businesses. Author Mark Stiving said it best: “Pricing is not a sustainable competitive advantage.” You may be desperate for sales, but it does you no good to get sucked [Read more…]
