Today on StartupSmart, we look at why competing on price is a risky strategy for ambitious start-ups to adopt.
When Calvin Ng and John Kolenda founded 1300 Home Loan, the feedback from senior mortgage brokers was that they had to double their price to weed out the more inexperienced operators.
After much deliberation, the duo realised they had to forgo early profits if their business was to succeed. Today, Ng tells us how they did it.
Elsewhere, mentor Nicole Kersh has some tips on how to snap consumers out of their January sales malaise and we have the story of how a Rupert Murdoch-backed start-up went bust before it had even launched.
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