Answer :
The fundamental way to earn profit is that the money you get
for selling your product has to be MORE THAN the cost of
manufacturing the product
+ paying your employees
+ paying the taxes on your business
+ keeping your machinery maintained and working
+ advertising
+ paying yourself
+
+
+
etc.
BUT ... If the price of your product is too high, then everybody will buy them
from your competitor instead of from you, and you won't sell any at all.
It's a delicate balance.
40 years ago, I asked a wise sage with whom I traveled and worked: Advise me
on how to acquire great riches in an honest business. He gave me the Secret,
and now I give it to you:
He said:
"Invent something which nobody has and everybody wants,
which can be made for peanuts and sold for a fortune."
for selling your product has to be MORE THAN the cost of
manufacturing the product
+ paying your employees
+ paying the taxes on your business
+ keeping your machinery maintained and working
+ advertising
+ paying yourself
+
+
+
etc.
BUT ... If the price of your product is too high, then everybody will buy them
from your competitor instead of from you, and you won't sell any at all.
It's a delicate balance.
40 years ago, I asked a wise sage with whom I traveled and worked: Advise me
on how to acquire great riches in an honest business. He gave me the Secret,
and now I give it to you:
He said:
"Invent something which nobody has and everybody wants,
which can be made for peanuts and sold for a fortune."
