My Favourite Things To Sell
Summary
I ensure every product I sell is unique. This way, no one else can sell it, and it stands out in the market.
I prefer selling expensive products because they make more money per unit sold. Higher prices often lead to better profit margins.
I focus on making my products sticky, meaning people buy them repeatedly. Repeat purchases increase long-term profitability.
- I choose products that are like air—cheap to deliver. This optimizes gross profit, allowing a product to cost little to produce but sell for much more.
Video
How To Take Action
I would suggest implementing uniqueness into whatever you're selling. Find a way to make it stand out. You can do this by adding a special feature or offering a distinct customer experience that others don't.
A good way of doing business is focusing on premium pricing. Don't shy away from setting higher prices if it reflects the quality and value you provide. This can lead to better profits per sale, which means you don't need as many sales to see good revenue.
Next, aim to make your product sticky. Think about what will keep people coming back. Maybe it's a subscription model or a consumable product that needs regular repurchase. This helps in building a steady revenue stream.
Think like air when designing and delivering your product. Look for ways to reduce costs while maintaining quality. Maybe there's a digital element you can incorporate, like online courses or e-books, which are inexpensive to deliver but can be priced well.
By focusing on these elements, you will not only stand out but also increase your chances of long-term success.
Full Transcript
there's four elements that I like to have in every product that I sell number one is that it's Unique I don't want anyone else to be able to sell it the second it's expensive because expensive stuff makes you more money per unit third I want it to be sticky I want it to be things that people don't just buy once but keep buying again and again and the fourth is I want it to be air meaning it's something that doesn't cost me a lot to deliver this is basically the relationship of your gross profit it means it cost you a penny you can sell it for a buck people keep buying it again and again and no one else can sell it but me
