Pricepressed
Now I see why many terminologies keep coming out from professional fields. When you are short of words, you have to create new ones. Being in the field of entrepreneurship can be very technical. You learn from others and also discover some for yourself. Ok, so today I will be talking about a terminology I tagged 'pricepressing'. I don't know if it is already out there anyway but it is worth considering both as a customer and an entrepreneur.
Speaking of such, so it was me being the customer this time around. Doing business is hectic and staying in profit is another follow up. As we speak, I had to squeeze out time to even put out this article. One of those things again, you should see what I mean. The added inconvenience is the sudden economic change that has forced businesses to replan and replan. Growing a startup even becomes more hectic as cost of running a business is on the high side. You already know the rules, you have to hang in there until the set time emerges. How long in a suffocating economy.
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Without understanding ALL this basis, you can end up cheating an entrepreneur. It was something I had to halt myself against. You know being in business gives you the advantage of being able to realize the actual price of a product when buying. So it was me going over to one of my friend's shops to buy an appliance. He started the price at regular buyers. Of course he knew I was going to get the realistic price anyway. I got it and even pushed to a price down further. I did buy the product and was to pay him on the Next day as agreed.
I tested the appliance and I was just what I was expecting if not better than. I forwarded the money by bank transfer to him and that was where I latter had to reanalyze. He was ok with the transfer as I saw his 'thank you' feedback after the transfer. Me on the other side was not, the product was very ok, but my conscience was beating on the price. Dani, you've underpriced him and his interest is not sufficient from that buy. Have you ever felt so before? I had to make and additional transfer to him. He never really understands why; I wanted to make sure his needed basic interest is ascertained.
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As I earlier said, until you are in business, you will never know what small scale entrepreneurs are going through. Pricepressinh is one of the reasons behind poor business growth. When added together returns on investment looks like a slice of yam, it not any good business. I know some entrepreneurs have also made it look this way, customers are never too sure if it is a proper price. When doing transaction in a slaying economy where product overprice is common, bargaining is very inevitable.
As for him, I have done business with him before and his pricing has always been to standard. Maybe that's why he is still pushing business forward. Customers are sure to come back where they felt they were not cheated. If one wants to follow the current economy as an entrepreneur, you will end up in extortion and also if you want to follow up as a customer, you are likely to pricepress. There is a need to put the balance between two parties.
To conclude, let me add, so I freed myself of any conscience driven transaction. That old saying, 'do unto others what you will want them to do also for you. This applies very well in business. Never undeprice or underpay for a product or services. There has to be a sense of maturity when doing business with others. The reason he is out there is to make profit and a realised one to be more precise. Maybe this is the hedge big businesses again have, there is always no time for bargain. Every product price is written in bold, buy it or leave it. Nevertheless, it doesn't mean one should pressed those who are yet to be there
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