How did Ray Kroc, founder of McDonald's, get rich? What
about Warren Buffett? Or Henry Ford? They didn't do it by clipping
coupons and settling for generic ketchup. They did it by offering
the best product in their categories, at the best price possible,
(Best, not lowest. A fair price that offers value to the consumer and
profit to the producer.), and by building a reputation for offering
useful, reliable products.
Consumers respond to value when it is
offered. They respond to price when it isn't. That means that as a
business owner, you must offer value to your customer, or forever let
your price be set by the guy up the road who is always trying to
undercut you. Learn to sell quality products at a fair price and
never wonder again if you can make payroll, (or buy name brand
ketchup).
