With the advent of technology, there is always a cheaper solution for virtually every product and service. Think about it – you can hire someone to do video editing in Pakistan for a fraction of the cost of doing it in the United States. Given this reality, you should avoid trying to win business by competing on price.

You can never be the cheapest. So don’t try. Just make your customer understand why your unique value is worth it.

So what do you compete on? You must compete on “value” and not just any value – the unique value you provide. Say, for example, that you provide a wellness solution. And that wellness solution includes transportation back and forth to a wellness center. When another competitor offers a online solution that costs less, don’t try to win on price. Convince your customer that you provide transportation because without it, it doesn’t matter what the price is, people will never take care of their health issues.  You can never be the cheapest. So don’t try. Just make your customer understand why your unique value is worth paying for.