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> I think a lot of these contractors operate with the mindset that customers will always be available and none of them will talk to each other or seek reference
by ilyt 3y ago
> I think a lot of these contractors operate with the mindset that customers will always be available and none of them will talk to each other or seek reference checks, but this approach suffers as the person’s reputation permeates their local industry. There are a few contractors in one niche I worked in where nearly everyone knows to avoid them, or at least to put strict oversight and micromanaging in place on their work and billing. At this point their primary audience is new startups where they can milk them for overpriced work until they catch on.
Well, did they get out of business ? No? Then by captialism the approach is great working strategy...
- creer 3y agoAre you arguing that there is some (other) system that solves the issue of over-selling and under-delivering? More constructively, I don't think anyone argues that there isn't (rudely speaking) a broad supply of fools waiting to be parted from their money. For the purpose of this forum the question is what can the clients (quite possible technically weak which is why they need to hire out) do to improve their odds.
- syndicatedjelly 3y agoIt's a great working strategy purely due to information asymmetry, not because "markets"
- Nevermark 3y agoI don’t share the viewpoint you are responding to, but information asymmetry is a significant factor in most transactions. Rarely is being a more informed customer not a benefit. Or being a less informed customer not associated with greater difficulty determining which supplier/service/product is the best fit.
- nextaccountic 3y agothere are billion dollar markets that operate entirely due to information asymmetry