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Help Us Create the Ultimate Cheat Sheet: 10 Rules for Starting a Small Business

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Sell On Features, Not On Price

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When starting your own business, you naturally will be desperate for sales. This all too often leads, when your customers competitively shop you, to quickly dropping your price to beat the competition and score the sale. Resist this urge! Your pricing must be sensible. But if all you are competing on is price, soon you will be selling at cost (or even below.) No one can beat the "Wal-Mart" of their own industry on price alone.

Instead, master the art of explaining to your customers why your higher price is actually a better value. What about your product or service is better than your competitor's that justifies your price point? In other words, learn to sell your reason for being in business in the first place.

Will this land you every sale? No. But if you truly have something worthwhile to offer your customers, then it will land you the sales you need for your business to succeed.


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