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When I ventured into business, one of the biggest challenges I encountered was pricing, specifically how to set it. In conversations with my friends, those of us who had ventured into service based businesses faced a different set of challenges from those selling products. In the latter, once you aggregate the cost of the product and overheads, you only need to figure out a markup and you have a price for your product. There are other ways of figuring out product pricing, such as comparing the pricing of the products with what your competition is selling.
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