I caught Ted Coiné’s 12 Most Irrefutable Laws of Business Heresy the other day. I really like that list. And it’s a great title for a post. And it’s an excellent post, great advice coming one delightful rule after another.
Still, I want to highlight one of his 12 rules for this post: Don’t compete on price:
You know who competes on price successfully? Walmart. Ryan Air. And… okay, two companies, in all the world. Let your competitor compete on price. You compete on quality, at a fair price. If for no other advice on this list, you’ll thank me for this.
I couldn’t agree more. And – I thought it was worth noting with this post – I have pretty good indications that you also agree: of more than 1,250 posts on this blog, my post warning against lowball pricing is in the top 20 by page views. I put that as #4 in my top 10 business plan mistakes, but, interestingly enough, it has roughly twice as many page views as any other post about any other of the top 10 business plan mistakes.
And, while we’re on the subject, read the rest of Ted’s list.