Business is Down…should I reduce my prices?

I’ve received this question several times over the past month or so.  Lets set some things straight.

First, there is nothing wrong with lowering your prices if you honestly feel that is why your business is slow.  But lets be honest, the economy is in the worse shape its been in for the past 30 years at least.  The fact of the matter is that most every one’s business is off.  I personally do not know of anyone in ANY type of business that isn’t hurting to a degree. 

Most readers provide services related to updating or maintaining homes.  Most homeowners are having problems making ends meet due to fuel prices.  You don’t need to be a rocket scientist to appreciate the financial pressure that most homeowners are facing.

An alternative to lowering your prices might be to focus on another target customer with a specific service.  More to follow on this subject.

 

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