Many of us would agree that business is competitive and that all businesses are doing their best to attract customers (Some have even gone the extra mile to steal customers away from their competitors).
I have noticed that a lot of business owners have implemented something that I have nicknamed, The Pricing Game; it is a type of strategy designed to prove to customers that their price-range is better than what their competitors could ever offer.
Apparently, there are a lot of self-employed people who have been bitten by The Pricing Game bug. Some masons, welders and painters, to name a few, are actually lowering their prices to lure in business.
In my opinion, that is selling oneself short; here is why: If the work you provided for a client is worth five thousand dollars, you shouldn’t have to break yourself down to four thousand, six hundred dollars, because other businesspeople in the same field as yourself have dropped their prices to that level.
Although some businesses do provide their customers with almost identical things, the quality is definitely going to differ, because some of them would have substituted cheaper materials in order to make their prices more reasonable.
Also, if you have maintained a high standard of work and the quality of it is superb, you shouldn’t have the cause to lower your price to compete with mediocrity (Hopefully, the client will pay your asking price once they noticed that they are getting their money’s worth).