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Once you decide to open a business, you become an entrepreneur. You also took on an incredible responsibility to ensure the business stays profitable — whether you stay as a one-person shop or hire employees.
Basing your selling prices on your competitor’s prices is a bad idea. How do you know the owner is basing his prices on his company’s true operational business costs?
During a conversation with a plumbing contractor (I’ll refer to as Tip) who called me he told me about a fellow plumbing contractor who is a friend of his.