Of the 28 million small businesses in America, 21 million lose money. Why do so many people lose at the game of business? The number one reason businesses fail is, simply, their prices are too low. They don’t sell their products at prices high enough, then they operate on margins so small they are unable to expand.
Unless you are extremely well capitalized, you should not attempt to offer the lowest prices in your market. Bragging that you are competitive on price does not gain more customers.
