One of the biggest challenges that SME owners / entrepreneurs face is the question of how they are pricing their product or service.
Too often, entrepreneurs believe that the key ways for them to compete are on:
- Exceptional service
While both play a part, both can also create their own headaches. Price your product or service too low and you will not be taken seriously. Spend too much time providing exceptional service / over-servicing your client and you’ll find yourself not making ends meet.
This is a challenge which entrepreneurs constantly face and many entrepreneurs are looking for advice on how to tackle this.
This week on Small Biz MBA, Yasmeen Alli talks about finance, tackling one of the biggest problems for most small businesses, and that’s pricing. Raizcorp’s strategy guide, Mbongeni Sibanyone joins Yasmeen to talk about pricing strategies and getting it right for your business.