I frequently hear from photographers who are thinking of reducing their prices as a way of attracting more clients. While I understand their logic, my advice is always to proceed with caution: the (potential) short-term gain always has to be weighed against the (potential) hit to their business' long-term sustainability.

In today’s episode, I'm sharing a cautionary tale about a business that recently shut down due to their financial missteps. This was a business I relied on for my own business, and their sudden and unexpected closure left me and hundreds (thousands?) of other business owners in a tough position. My hope is that this episode creates a silver lining of sorts out of the dark cloud of this story, because I don't want any of you to make a similar mistake in your own business!

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