Truth of the matter....it is dog eat dog out there right now. I talk to fellow contractors every once in awhile when picking up materials and it's the same old story everywhere...there's always someone out there to do it for less. I personally stick to my guns with my prices. Quality and customer service has allowed me to have repeat clientel and get referrals. I've learned that If I allow myself to take a job for no or low profit the product I deliver suffers. Is this what I want when someone walks in to this prior customers home and asks who did the work? Of course not. Lesson learned!!
My motto, honesty and hard work will get you moving forward. Listen to your gut and God willing, you'll pay your bills, feed your family, and with todays economy, if your lucky be able to make a little extra. The only thing being in business for yourself can promise you today is the freedom to do it your way.
We all make mistakes one time or another but lesson's learned from prior experiences should allow you to forsee and choose how to maneuver forward with your new business and next customer. Stick to your guns, provide quality service in a timely manner, and thats all you can do.
I personally wish the best for you in your new venture. Good Luck!!