Monday Sep 25, 2023

Ways to increase profits

The sixth reason is the lack of correspondence between the product and the idea that it is able to implement. When there is a match, when a person sees that the product is exactly what he needs, which is able to implement the idea, he buys it very quickly and for the money you ask. In this case, you get 100% of the possible profit. If there is no match, then the buyer has many objections. The removal of each objection is a reduction in profits, time and other resources.

Moreover, it is far from the fact that in the end the sale will take place and even if it does, it does not guarantee a successful outcome. The buyer can pick up the product, use it, understand that he does not realize his idea and return it, and this is an additional cost of money and time. In general, there are ten times more problems that reduce profits from non-conformity of the product with the idea than there are benefits.

The indicated reasons for low profits are very common, but the list is not limited to them.

There is a seventh reason – the lack of a key to the product. Without it, goods are developed and produced, which by and large are not, they are soulless, unprincipled objects, in fact, just materials collected in a heap. The use of such an object does not lead to the realization of the idea, which causes frustration from the purchase. As a result, they are not in demand and have been lying in warehouses for years.

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