Online Home Business: The Key To Profit And Online Success
The difference between a business that struggles and a business that thrives is profit.
Wanting to be the cheapest isn't the way to survive in business today. Well, not unless you are a super sized business like Walmart that can buy and sell in volume.
When I say volume I'm not talking about 10, 100 or even 1,000 items... I'm talking a few more zeroes.
What is means to be profitable is not as obvious as it may seem.
Here's an example...
Say you have a profit goal of $300 a week and your average profit per sale is $3.00. It will take 100 orders for the week to meet your profit goal.
If you change your per sale profit target from $3.00 to $5.00 watch what happens...
Instead of 100 orders, it will only require 60 for the week to meet your profit goal. Are you getting the difference?
Let's take it a step further...
This time let's set your profit per sale at $10.00. The change is can be life changing.
Instead of 100 or even 60 orders only 30 will be required to meet your profit goal. The difference it HUGE!
So, what does this all mean?
The easy and obvious answer is; more profit means more money.
Still, there is so much more to this than money...
1. You don't have to work as hard
2. You will reduce your stress
3. You will have more time to do the things you want
4. You will have a more flexible and resilient business
5. You will grow your confidence as a business owner
6. You will grow the confidence of your client
7. You will greatly improve the longevity of your business
8. You will greatly improve your ability to grow your business and income
9. You will greatly improve your odds of success
Let's take a look at each of these points...
Point 1: You don't have to work as hard - The math is easy; at $10 profit per sale you are processing a mere 30 orders versus the 100 orders that are required at a profit of $3 per sale. That means you will work 70% less at $10 profit per sale.
That's 70% fewer sales, 70% fewer customers and a reduction in handling and processing time of 70%.
Point 2: You will reduce your stress - Think about it, fewer sales, fewer customers, less time and the same profit.
Point 3: You will have more time to do the things you want - Again, less time is required to generate the same profit. So, go enjoy your newly found time and celebrate your profit.
Point 4: You will have a more flexible and resilient business - Things will happen, that's just how life works and the same is true for business. You will have those sales that just don't work out like you planned.
They will require more time and cost for you to complete. When this happens you are far more likely to suffer a loss at $3 profit per item than you are at $10 profit per item.
For example...
Let's say you had one of those difficult sales... ugggggggggggggg, right. Just know it's going to happen, so don't let it cause you anymore difficulty than needed.
In other words; just handle it with a smile.
Okay, back to the sales transaction. Once it is all said and done the additional cost required to complete the sales transaction was $5.
What does that mean?
Well...
- at $10 profit per sale you will still make a $5 profit
- at $5 profit per sale you will break even, no profit, no loss
- at $3 profit per sale you will end up losing $2 dollars
Based on the above example choosing to be more profitable will give both you and your business the ability to be far more flexible and resilient.
Going a step further, you will have the ability to address customer concerns and issues with greater ease and far less angst all because you are still making money.
Point 5: You will grow your confidence as a business owner - Your improved confidence will simply be the outcome of having more time, more money and the ability to fully respond to your customers when needed.
It's a good feeling knowing you got this... right!
Point 6: You will grow the confidence of your client - Confused, I mean how on earth is your client going to have more confidence in you and your business all because you decide to charge more, right?
The reality is this, because you are a thriving and growing business you will be more dependable. As a successful and profitable business you will be able to out perform and while out lasting all the other struggling competitors, who don't get it, simply because you know that secret to being profitable.
The longer you stay in business, the more familiar you and your business will become. With experience servicing and meeting your customers expectations will be easier. Overtime, the confidence of your customers will grow because will become more and more a part of their everyday life.
Point 7: You will greatly improve the longevity of your business - This one is pretty easy, more time and more profit means you will enjoy your business and what you are creating. Being a business owner will be a source pride and inspiration rather than a source of angst.
Remember, more profit means you will be far more flexible and resilient as a business.
Point 8: You will greatly improve your ability to grow your business and income - This reason this is true might not be so obvious.
Consider this, if you have the ability to process 100 orders a week and your current profit goal only requires you 30 orders per week there is a huge upside potential. Meaning, you could boost your sales.
Imagine going from 30 orders to 100 orders per week. Now, instead of generating a profit of $300 per week you are generating a profit of $1000 per week. WOW!!!
The difference is huge, just think about the possibilities.
Remember, it's your business and you are the boss.
Point 9: You will greatly improve your odds of success - This is an easy one, right. More profit, more business the greater your success.
When it comes to profit, not every item will give you the ability to raise the price while maintaining sales. The key here is this, don't let that stop you.
Learn how to research your market, learn how to find hidden treasures, learn more about your customers and their interests. Do this as often as possible and you will eventually start to uncover many of those hidden treasures.
Change how you look at your profit and you will change how your business takes care of you and your dream.
DS Domination Dad
Wanting to be the cheapest isn't the way to survive in business today. Well, not unless you are a super sized business like Walmart that can buy and sell in volume.
When I say volume I'm not talking about 10, 100 or even 1,000 items... I'm talking a few more zeroes.
What is means to be profitable is not as obvious as it may seem.
Here's an example...
Say you have a profit goal of $300 a week and your average profit per sale is $3.00. It will take 100 orders for the week to meet your profit goal.
If you change your per sale profit target from $3.00 to $5.00 watch what happens...
Instead of 100 orders, it will only require 60 for the week to meet your profit goal. Are you getting the difference?
Let's take it a step further...
This time let's set your profit per sale at $10.00. The change is can be life changing.
Instead of 100 or even 60 orders only 30 will be required to meet your profit goal. The difference it HUGE!
So, what does this all mean?
The easy and obvious answer is; more profit means more money.
Still, there is so much more to this than money...
1. You don't have to work as hard
2. You will reduce your stress
3. You will have more time to do the things you want
4. You will have a more flexible and resilient business
5. You will grow your confidence as a business owner
6. You will grow the confidence of your client
7. You will greatly improve the longevity of your business
8. You will greatly improve your ability to grow your business and income
9. You will greatly improve your odds of success
Let's take a look at each of these points...
Point 1: You don't have to work as hard - The math is easy; at $10 profit per sale you are processing a mere 30 orders versus the 100 orders that are required at a profit of $3 per sale. That means you will work 70% less at $10 profit per sale.
That's 70% fewer sales, 70% fewer customers and a reduction in handling and processing time of 70%.
Point 2: You will reduce your stress - Think about it, fewer sales, fewer customers, less time and the same profit.
Point 3: You will have more time to do the things you want - Again, less time is required to generate the same profit. So, go enjoy your newly found time and celebrate your profit.
Point 4: You will have a more flexible and resilient business - Things will happen, that's just how life works and the same is true for business. You will have those sales that just don't work out like you planned.
They will require more time and cost for you to complete. When this happens you are far more likely to suffer a loss at $3 profit per item than you are at $10 profit per item.
For example...
Let's say you had one of those difficult sales... ugggggggggggggg, right. Just know it's going to happen, so don't let it cause you anymore difficulty than needed.
In other words; just handle it with a smile.
Okay, back to the sales transaction. Once it is all said and done the additional cost required to complete the sales transaction was $5.
What does that mean?
Well...
- at $10 profit per sale you will still make a $5 profit
- at $5 profit per sale you will break even, no profit, no loss
- at $3 profit per sale you will end up losing $2 dollars
Based on the above example choosing to be more profitable will give both you and your business the ability to be far more flexible and resilient.
Going a step further, you will have the ability to address customer concerns and issues with greater ease and far less angst all because you are still making money.
Point 5: You will grow your confidence as a business owner - Your improved confidence will simply be the outcome of having more time, more money and the ability to fully respond to your customers when needed.
It's a good feeling knowing you got this... right!
Point 6: You will grow the confidence of your client - Confused, I mean how on earth is your client going to have more confidence in you and your business all because you decide to charge more, right?
The reality is this, because you are a thriving and growing business you will be more dependable. As a successful and profitable business you will be able to out perform and while out lasting all the other struggling competitors, who don't get it, simply because you know that secret to being profitable.
The longer you stay in business, the more familiar you and your business will become. With experience servicing and meeting your customers expectations will be easier. Overtime, the confidence of your customers will grow because will become more and more a part of their everyday life.
Point 7: You will greatly improve the longevity of your business - This one is pretty easy, more time and more profit means you will enjoy your business and what you are creating. Being a business owner will be a source pride and inspiration rather than a source of angst.
Remember, more profit means you will be far more flexible and resilient as a business.
Point 8: You will greatly improve your ability to grow your business and income - This reason this is true might not be so obvious.
Consider this, if you have the ability to process 100 orders a week and your current profit goal only requires you 30 orders per week there is a huge upside potential. Meaning, you could boost your sales.
Imagine going from 30 orders to 100 orders per week. Now, instead of generating a profit of $300 per week you are generating a profit of $1000 per week. WOW!!!
The difference is huge, just think about the possibilities.
Remember, it's your business and you are the boss.
Point 9: You will greatly improve your odds of success - This is an easy one, right. More profit, more business the greater your success.
When it comes to profit, not every item will give you the ability to raise the price while maintaining sales. The key here is this, don't let that stop you.
Learn how to research your market, learn how to find hidden treasures, learn more about your customers and their interests. Do this as often as possible and you will eventually start to uncover many of those hidden treasures.
Change how you look at your profit and you will change how your business takes care of you and your dream.
DS Domination Dad
Source...