One of the key mistakes that starting entrepreneurs usually do is not pricing their services probably. This is usually a problem that results from not knowing your target market or not understanding your client needs. Most entrepreneurs would be too humble in pricing their service. I have rarely met a starting entrepreneur who errs on the high side of pricing.

The mistake that most starting entrepreneurs do is to look at experienced business people and the prices they are charging and then say: I am less experienced and less known, so I must offer a price lower than that. That is not the right way you should approach prices. Your prices should be based on the VALUE of what you offer not on your insecurities. If what you offer is very valuable to clients, how much others are currently charging for their products is irrelevant.

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You probably heard before the 80/20 Rule which states that :

·         80% of your revenues are generated by 20% of you customers

·         80% of your profits come from 20% of the products

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I have coached many professionals who would like to start their own businesses. Most of them are very competent and qualified business professionals. They have all what it takes to start a new business. Unfortunately, I have heard all sorts of reasons and barriers that are holding them from taking this step. Here is a list of what I heard before.

I will start my business when:

•             I save enough money

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