While £20k MRR won't allow us to pay for 5 - 10 people here in the UK, £50k MRR will and at any point I can make the call to sell the company.
By the way we're in a similar space, I run http://www.staffsquared.com (HR software).
We also see our competitors dropping their prices, but my take is the same as yours, we tell our customers that we won't compete on price as our app is simply better than the competition :)
While £20k MRR won't allow us to pay for 5 - 10 people here in the UK, £50k MRR will and at any point I can make the call to sell the company.
By the way we're in a similar space, I run http://www.staffsquared.com (HR software).
We also see our competitors dropping their prices, but my take is the same as yours, we tell our customers that we won't compete on price as our app is simply better than the competition :)