Offering the Cheapest Price as a Freelancer is a Race to the Bottom

In a commodity business, if all the freelancers offer the same service and there is no difference in quality, customers will choose the cheapest and fastest option. However, constantly striving to be the cheapest and fastest freelancer is not beneficial in the long run as it leads to a race to the bottom. Winning this race means compromising on quality, and even coming in second would mean being undervalued. As freelancers, we have the choice to aim higher and focus on providing high-quality services rather than engaging in a race to the bottom.