Business and Money Tips

It's very obvious: in the heart of busy Chinatown's New Bridge Road, 2 famous bak kwa shops lie side by side: they sell almost the same seasoned barbecued pork that is popular in Asia.  One thing stands them apart: the shop on the left is packed with shoppers with queues while the shop on the right has zero customers.  This is despite the fact that the right side shop sells at half price than his neighbour, yet he has no sales.  Fact 1: If you sell on price, you may not have more business Fact 2: If you cannot differentiate what you sell, you have to sell on price Fact 3: It is not your competitors that cut your price, it is you that cut your price Fact 4: People follow the crowd.  When you sell well, you sell even better Fact 5: If you don't know how to sell differently, cutting price may be the most silly thing to do Fact 6: Product differentiation is not easy to do.  Most would rather cut price first Fact 7: Improve your product to be better ...