It seems that Everytime I see a business fail you usually hear from people " oh man I'm not surprised, they were so expensive"I'm seeing a trend of businesses attempting to max out their profits on every item. I don't go that route.My prices depends on what I pay for it and what they are selling for online. Then I undercut that price as much as I can. I'll give you an example of what people have told me.Say I'm buying product X for $50 and it sells online for $250 but I sell the item at $150. People always tell me that I'm losing $100 when in reality I'm gaining $100.Small profits and high sales numbers are the way to go. It's a balance between both profit and turnover. I perfer to sell a lot at small profits.Like an example would be. I can sell product X at $20 profit per sale, but I sell product X at $4 profit a sale.Now most people would laugh and say it is unsustainable because I am making less money.That's not true. Which garners more profit on product X? 10 sales a month at $20 profit per item or 100 sales a month at $4 profit per item?Just something for you to chew on. see hubwealthy.com/wealthy
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