๐Ÿ’Ž On price cutting being the crack cocaine of business (you will all too quickly get hooked)

Like it or not, price cutting is the crack cocaine of business. Youโ€™re both the junkie and the dealer. Like any drug, the insanely addictive short-term high will momentarily camouflage the long-term effects of underselling your product. And you will all too quickly get hooked. Your price-cutting habit will rapidly spiral out of control. Cut costs, make it cheaper, cut costs, make it cheaper. Youโ€™ll be trying to save money on production. Reducing the quality of your product, cutting corners, until youโ€™ll eventually be cutting your own businessโ€™s throat. And then the slow truth of this self-induced vicious cycle dawns: you canโ€™t make it any cheaper. Youโ€™ve slashed it until you have no margin left. And youโ€™ve dumbed down your mission to boot. Game over, dude, all because you became a discount hobo.

Excerpt from: Business for Punks: Break All the Rules โ€“ the BrewDog Way by James Watt