3. Know your value propositionâ€”and stick to it. As a new entrepreneur, you will be tested by people who wonâ€™t take you seriously at first. Some will point to your lack of experience as a business owner. Othersâ€”particularly family and friends â€“wonâ€™t take you seriously: â€œYouâ€™re not really going to charge me, are you?â€ Itâ€™s your job to know what your goods and services are worth, what your competition is charging and how much money you have to make on each unit sold to earn a profit. Once youâ€™ve locked in on that information, set your prices accordingly and stick to them. Whatever you do, donâ€™t allow guilt or lack of confidence to cause you to offer â€œhook-upsâ€ without a clear rationale for how they will drive sales. Offering a voucher for one free meal after a customer has purchased 10 meals from your restaurant makes sense because it provides an incentive for people to pay to eat at your establishment more often. Hooking people up with free meals in hopes that it will inspire customer loyalty does not.