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Number 6 seems like the odd one out , there are plenty of businesses that were successful because they kept figuring out how to get things done cheaper and passing those savings on to consumers and undercutting the competition. Or companies who ate their margins to lower prices and gain market share.


Perhaps that rule could be rewritten as 6. Never drop your margins.

Sure, find ways to save costs and pass this on to your customers, but only when it improves your margins a bit.


Not every businessperson aims to create the next Walmart-scale business. You can live comfortably with a few tens of thousands of repeat customers.


yes, but that doesn't make competing on price an invalid strategy.




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