The Temptation of Under Pricing Your Product or Service
There's a funny thing about entrepreneurs: They're often way too optimistic about sales and way too pessimistic about prices.
Read the whole article here.I've witnessed this phenomenon many times over the years, most recently in two women with whom I've been working. A few months ago, Carey Balogh and Julia Dawson opened a play space for kids near my home in Brooklyn, New York. It's called Frolic, and it offers classes, birthday parties, a boutique, a coffee lounge, and a play area, all with a rock 'n' roll theme. It's a great concept, and it will be very successful, I'm sure. But first, Carey and Julia need to learn that business decisions must be guided by numbers, not emotions. The Single Most Important Rule of Business, Norm Brodsky.