Consider this a post from a practically confused entrepreneur.
I have few sets of questions as below –
As a start up (say 3 yr old), should you concentrate on getting more clients on less price per project or focus on getting less clients on higher price per project??
Shouldn’t you mind delivering quality work in extra low prices (just because you r a start up)?
Or should you be fine with having various clients from various industries getting added to you work portfolio?
These are some self-realized facts:
We started out doing work at low prices, assuming us to have a great portfolio and then raise our prices with good work to back it.
What we ended up is a boundary/limit which our old clients don’t agree to exceed.
Even if we have revised and increased our margins for a sustainable business, we find ourselves trapped in our earlier prices which will take years to be at par with the industry rates.
Finally, if we decide to get strict and think of circulating a mail having our “fairly revised prices”, we fear of facing rejection and loosing on our loyal and esteemed client base (as we all know the competition).
Suggest.