Top Priority for Product-Based Businesses
"When running a product-based business, profitability should be top of mind."—Melissa HoustonCreating and operating a product-based business demands a significant amount of courage and drive to bring your product to the market. Thus, it’s a must that entrepreneurs possess a deep understanding of their intended audience, their competitors, and the industry in which they operate. It is not easy to build a product-based business. There are several things that you should consider, and a bucket of sweat and tears will be required in order to build it successfully.So in this episode, we will delve into how we can make our product-based business profitable and on top despite hindrances and challenges!Keep learning, adapting, and growing your business, and you'll make significant strides towards business success.Listen to learn about:The importance of courage in product-based businessesPrice strategies in product-based businessesEffective marketing plan that is crucial for visibility and successBuilding a strong brand identityEssential of quality controlWhen to consider investing in equipment and manufacturingPrioritizing the profit in your businessHighlights:04:19 Product-based businesses built on a solid financial foundation06:00 Things to consider if you have a product-based business06:20 Setting your prices08:19 Packaging of the product09:50 Marketing for your product11:19 Considering manufacturing cost12:42 Distribution of your products15:42 Providing excellent service17:10 Return policyCash Confident Book: https://www.amazon.com/Cash-Confident-Entrepreneurs-Creating-Profitable/dp/1637586361/ref=sr_1_1?keywords=cash+confident+melissa+houston&qid=1684071072&sprefix=%2Caps%2C57&sr=8-1Cash Confident Course --> sign up hereApply to work with me --> Apply hereLinks: Cash ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderAre You On Track For Millionaire Status QuizFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa