Although there are advantages to selling other people`s products and services, there are also drawbacks. For example, the lack of exclusive rights to your own proprietary product can mean that you are just one of thousands selling the same thing. Excessive competition can cause you to drop your prices and to lose sales, thus affecting your profits and cashflow that are so essential to your business survival.
For this reason, you may decide to develop your own proprietary products and services, either exclusively, or to complement your line of other people`s products.
After creating your own proprietary product, you could spend millions in manufacturing and marketing costs. You could go bankrupt before you even had your first sale.
Here, then, are just a few, low-cost ways to profit from selling your own proprietary products and services.
1. Licensing
Instead of trying to finance the manufacturing and marketing of your invention, why not license it to a company with the expertise and capability required? You will then receive royalties in return for your idea.
To learn more about licensing, visit http://yenommarketinginc.com/licensing.html
2. Exporting
Exporting your product to other countries can dramatically increase your sales. Hiring an Export Management Agent can keep your fixed costs down.
To learn more about exporting, visit http://yenommarketinginc.com/impexp.html
3. Offer Commissions and Finders` Fees
Recruit independent sales representatives and agents. Offer commissions and finders` fees in order to sell your products and services.
To learn more about finders` fees, visit http://www.yenommarketinginc.com/finder.html
4. Online Auctions
You can also sell your own proprietary products through Internet auction sites such as eBay or Yahoo! Auctions.
To learn more about online auctions, visit http://www.yenommarketinginc.com/auctions.html
5. Start Your Own Associate or Affiliate Program
Multiple web sites and distributors selling your product can result in increased sales and profits. Unlike conventional advertising, affiliate programs pay only for performance. Commissions are not paid out unless sales are made.
To learn more about affiliate programs, visit http://www.yenommarketinginc.com/affiliate.html
6. Participate in Joint Ventures
Joint venture arrangements can be profitable. As an example, you could offer a commission on the successful sale of your product featured in someone else`s e-zine or newsletter.
To learn more about joint ventures, visit http://www.yenommarketinginc.com/joint-ventures.html
The above list of low-cost ways to make a profit from your own proprietary products and services is by no means exhaustive. However, it certainly illustrates that, with some effort, your own products could make you rich.
RESOURCE BOX:
J. Stephen Pope, President of Pope Consulting Inc., http://www.popeconsultinginc.com/ has been helping clients to earn maximum business profits for over twenty-five years.
For valuable Work at Home Small Business Ideas, visit http://www.popeconsultinginc.com/
To budget, to have a budget and to be on... Read More
When young men ask me how to succeed, I tell... Read More
Most people want to get to the end of their... Read More
This is a true story from my own experience that... Read More
Money is probably the most challenging thing for many people... Read More
Imagine being able to steal untold millions of dollars in... Read More
At any time in history, no matter what the current... Read More
Six out of six people who were asked to list... Read More
In today's unpredictable global economy, you obviously never know what... Read More
"Join our program and retire in 3 months..." yeah, right.We... Read More
What is your attitude towards having wealth? Do you believe... Read More
Offshore strategies may or may not be right for you.... Read More
Points to ponder as you consider what can be done... Read More
You've been thinking that your financial life could probably be... Read More
The inability to come up with the necessary cash when... Read More
Top Investment PerformanceThroughout history, many coin collections have produced substantial... Read More
As you sit in traffic, inching along between irate drivers,... Read More
Okay. So money doesn't really grow on trees. Unless you... Read More
"Money Doesn't Grow On Trees."Some of us even believe it.... Read More
Have you stopped to realize that although you go... Read More
Steve Martin once delivered an opening monologue for Saturday Night... Read More
From tender age, we were exposed to myths about money... Read More
Everyone wants to be wealthy. Only a few actually achieve... Read More
Most people work hard all their lives only to "retire"... Read More
It is with great pleasure of having you here at... Read More
Before I had a lot of money, I was really... Read More
Like I said, If you are poor and on social... Read More
There are few things in life that are more stressful... Read More
Look at Forbes' top 10 United States wealthiest people. Notice... Read More
Many people assume that the offshore world is accessible only... Read More
Time and time again entrepreneurs are losing out on getting... Read More
How many people search Google, Yahoo and MSN each day... Read More
Financial planning at an early age may seem complicated, however... Read More
Many of us do not consider the underlying belief system... Read More
Despite what you may have read or heard, anyone is... Read More
Here's the truth: I have read hundreds and hundreds of... Read More
Feng shui coins can allow you, among other things, to... Read More
The rewarding of high compensation packages to top executives who... Read More
Estimated Reading Time: 4 minutes -- Envision your life 10... Read More
Do you ever get this in your email box: Find... Read More
Not Enough Money?I believe that most people haven't got enough... Read More
I counsel a LOT of people about money. I see... Read More
Have you ever asked yourself what your highest income producing... Read More
Imagine being able to steal untold millions of dollars in... Read More
SCENE 1: Pharaoh has just woken up from a very... Read More
"Any fool can rich, the wise get wealthy." Chris WidenerGetting... Read More
The business of banking has changed dramatically over the last... Read More
What does becoming rich mean to you? Is it early... Read More
1) Pay off your loan, credit and store card debt... Read More
Turn to the year 1999, a couple of friends sitting... Read More
Wealth Building |