RE: It's far easier to hold onto people than it is to get new people.
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This is very true and have struggled with our business even though our pricing and product is better than our competitors. An established business takes 20 years to build and is not done in 5 years which people often forget. Traction enticing customers away from existing suppliers does happen but can take years for the really big clients to move.
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That's exactly it.
You won't just open up your doors and become a busy thriving business. It will take years of effort, marketing, failures and hopefully successes. From there you will create a solid customer base over the years and at some stage this will expand into more customers and more profit if you look after those existing customers.
People talk and if you do a good job other will hear about it and start to come over to your business for a better experience. Price is important but not the most important thing.