The other day I went to the post office when the lady at the counter asked me whether I also had a bank account with them.
When I answered "no" she asked me how much I paid for my current bank account.
"I pay nothing for my bank account."
Then we both laughed.
Because we both knew that it's impossible to compete with free.
Unless, of course you're the best at what you do.
Which we both knew they probably weren't.
Here's the thing...
When you're the best at what you do, people will automatically find out about you and what you do.
And a lot of those people are willing to pay for the best out there.
No matter how much more it might cost.
The alternative is to be so cheap that it's basically for free.
Which is never really sustainable....
Everything in between the best and for free is very hard to pull off and will usually fade away sooner or later.
Especially, when you're offering a generic product or service that's targeting pretty much everyone with the exact same features (or just a little bit better) that pretty much everybody else is already offering.
Because sooner or later people will either find out about the best of the best out there or the one they can get for free.
So what can we do here?
There are two choices...
Either you put in the time, energy and effort to become one of the best at what you do or you create something for almost no one and then become the only one for them.
Of course, this only works a long as you're the only one.
But being the only one gives you a considerable head start when it comes to becoming the best at what you do...