Small to medium sized business owners generally fear undercharging, more than they do overcharging. But the risks associated with undercharging are more severe and can lead to business failure over time.
Most human beings are natural forecasters. Our ability to think ahead when making decisions is one of the things that set us apart from other animals. For example - when a cat sees some food, the cat generally eats the food, without much delay
Small business owners generally do not spend enough time on reflection. They spend a lot of time on doing the doing, fighting the fires, making the plans, managing the people, keeping the customers happy etc.
Imagine this scenario - a potential customer calls you and asks for a quote. They call back later claiming they have found a competitor who can do the job for 10% less. They explain they like your vibe more and would rather have you do the job, so could you please match that price? What do you ...