No one can build a perfect business on the first try. We’re all bound to make mistakes along the way, but the important thing is that we learn from them. In fact, that’s how great businesses are successful, through a process of trial and error.

However, after working with small business owners for almost 40 years, I’ve discovered that there are certain mistakes that you absolutely cannot make if you want your business to be successful and profitable. 

Watch this week’s video to learn about the biggest mistake that I see small business owners make, why they make it, and how to avoid making the same mistake yourself.

One of the most important lessons I’ve learned is that people have money for what they want, and they”ll spend it. Many people lowball their prices so that they can build their clientele, but really, our focus should be on building value to attract the right clients to our businesses.

Think about this: Your ideal client is capable of affording your $1,000 product. However, you decide to sell it for $100 to make sure that they buy it.

You get more clients when you sell your product for $100, but you’re also watering down your ideal clientele with people that you may or may not want to be doing business with.

If you know that your ideal client can afford your offer, don’t lowball yourself! You’ll earn what you’re worth on your offers and your ideal clients may end up spending even more with you in the future.

If you’re unsure about whether or not your ideal client will buy from you, focus on adding more value to your products and services to show them why they should choose you over someone else.

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