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Don't Underestimate Costs

Submitted by Mike Johnson

Tuesday, May 01, 2012

One of the biggest mistakes small businesses make is underestimating costs, which leads them to under-price their products and services. This can be a fatal flaw, because getting customers to pay more than they're accustomed to without good cause is a tough pill both to deliver and to swallow. So if you're under-pricing because you don't understand all of your costs, you may end up stuck with the low margins this brings.

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