If you don't charge for overheads, you'll never get them.

So you're starting a new business. You figure that you can undercut the established competition because you don't have their overheads. You are about to make your first two mistakes as a business person.

Firstly, you are relying on your low prices to get business, whereas you should be differentiating yourself so that you stand out from all the rest.

Secondly, if there's not some extra fat in the price, you'll never grow, or if you do, you'll soon run short of cash and won't be able to afford the overheads that are necessary to sustain growth.

So, stop thinking about being the cheapest kid on the block, quality clients don't look for that. Spend all of your available time thinking about what you can do so that you stand head and shoulders above the rest.

Memberships

South African Institute of Chartered Accountants. Designation CA(SA)  Internationally Accredited Financial MediatorsIndependent Regulatory Board for Auditors. Designation RA<Engineering Council of South Africa. Designation Pr(Eng) Member of MENSA, the High IQ Society

 

 

 

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