Saturday, January 23, 2021
  • About Us
  • Contact Us
  • Middle East
The Opportunist
  • Home
  • Startup News
  • Opinion
  • Stories
  • About Us
  • Contact Us
No Result
View All Result
The Opportunist
  • Home
  • Startup News
  • Opinion
  • Stories
  • About Us
  • Contact Us
No Result
View All Result
The Opportunist

5 reasons why NOT to undersell your products/services

Manu Taneja by Manu Taneja
November 19, 2020
in Uncategorized
2 min read
0
5 reasons why NOT to undersell your products/services
0
SHARES
212
VIEWS

Related posts

Dennis Geelen, Launching a book on how to ensure businesses stay innovative & customer centric [Video]

Dennis Geelen, Launching a book on how to ensure businesses stay innovative & customer centric [Video]

September 10, 2020

There is a saying in business that if u settle for less than you deserve, you get even less than you settled for. Pricing the products/services is an art which is highly undervalued yet one of the core factors of making or breaking the business in the long term. Here are 5 reasons why one should not undermine the potential of their business:

  1. Competitive Pricing: One of the most common mistake new businesses make is to offer competitive pricing in the market when they launch their product. While it does offer an edge in the beginning, it does not hold sustainability in the long run. Factors like unfavourable market conditions, client issues, demand vs supply, and revenue generation. A long-term business plan works on consistency in the quality of the product and efficient client services.
  2. Value for Work: Underselling also means undervaluing your work ethics, over working, and eventually not delivering what was promised. While we assume that clients do want lower price, the cost cutting will come from working longer hours, underpaying the employees, or compromising on the quality of the product. None of which will result in sustaining a long-term business plan.
  3. Assessment: Rightly pricing the product/service is extremely crucial for any of the business-oriented ambitions. For budding entrepreneurs, it may simply be based on undercutting competitors’ price in the market. A well-researched assessment, market price differentiation and justifying higher costs through better product quality are few of the key factors in deriving the right price value.
  4. Niche: Identifying the niche area in the market gives an edge not only to the business but to the customer as well. It is important for new businesses to discover or create their niche and anything over and above should be expensed to the client.
  5. Sustainability: What comes easy goes easy in business. Every business plan has a vision, and it evolves from sustainable business ideas. The business should not feel like a race which never ends. Correct evaluation of products and services gives a buffer to sustain the business even in adverse circumstances.
0
ShareTweetShareSend
Previous Post

Ontario budget 2020 and what it means for small businesses

Next Post

Once a teacher and now a successful entrepreneur - How a science graduate found his calling as a lawyer

Next Post
Once a teacher and now a successful entrepreneur – How a science graduate found his calling as a lawyer

Once a teacher and now a successful entrepreneur - How a science graduate found his calling as a lawyer

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Dejected From a Raise of $0.77 After 9 Years in Service, Started Her Own Venture to Become a Serial Entrepreneur!

Dejected From a Raise of $0.77 After 9 Years in Service, Started Her Own Venture to Become a Serial Entrepreneur!

1 year ago
Halloween businesses during COVID-19 pandemic

Halloween businesses during COVID-19 pandemic

3 months ago
Worked as a General Laborer for $90 Per Day, Now Venturing Out Own Home Renovation Company

Worked as a General Laborer for $90 Per Day, Now Venturing Out Own Home Renovation Company

1 year ago
5 Email Productivity Tricks Every Professional Should Follow

5 Email Productivity Tricks Every Professional Should Follow

8 months ago

FOLLOW US

  • 52 Fans
  • 25 Followers

BROWSE BY CATEGORIES

  • Experiences
  • Opinion
  • Startup News
  • Stories
  • Strategy
  • Uncategorized

BROWSE BY TOPICS

blockchain Book Launch budget Business Business Model Canada Canada Business Charity Company Construction Consulting content Digital Marketing Economy Education Business Employment Entrepreneurs Entrepreneurship Food food wastage Hard Work Hiring hydro Immigration Innovation Investing Legal Mentorship ontario Persistence Proof of Concept Retail Skincare SMEBusiness Social Enterprise Social Media Startup Strategy tax Technology vancouver

POPULAR NEWS

  • Learn how Dennis Geelen founded his own consulting company after 20 years of corporate experience

    Learn how Dennis Geelen founded his own consulting company after 20 years of corporate experience

    0 shares
    Share 0 Tweet 0
  • Persistence is the only way to initiate & run businesses – This Company waited for 3 years to get its first client

    107 shares
    Share 107 Tweet 0
  • How ‘Cooks Who Feed’ plans to serve meals to over 1 million people in 1 year

    84 shares
    Share 84 Tweet 0
  • How this 26-year-old CEO is redefining blockchain technology in media

    0 shares
    Share 0 Tweet 0
  • How this 20-year-old developed a solution for her own skin problems to later build a business out of it

    0 shares
    Share 0 Tweet 0
The Opportunist

We are dedicated towards highlighting the businesses, entrepreneurs and startups that have made an impact towards Canadian economy with their products, services or even by sheer determination to succeed.

Follow us on social media:

  • About Us
  • Contact Us
  • Middle East

Copyright © 2020 | The Opportunist.

No Result
View All Result
  • Home
  • Startup News
  • Opinion
  • Experiences
  • Stories
  • About Us
  • Contact Us

Copyright © 2020 | The Opportunist.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.
SIGN UP FOR NEWSLETTER NOW
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.