| Choosing
a product for your home-based business is not only one of the harder decisions
you will make but will also have a big impact on your financial success.
Many people think that a lower priced product that is more affordable is
best. This is not at all the case. An expensive product with a high profit
margin can and will do much better for you.
How can this be, you may be asking. It is really quite simple. Regardless of the product, you will put the same time and effort into it. The percentage of qualified prospects that will actually buy from you will be about the same. No matter what the price, prospects will always have reservations. It will be just as hard for you to sell a $20 product as it would to sell a $1000 product. So, a high priced product with a higher profit margin will make you more money. Every product has a price to value ratio. What does this mean to you? Let's take a hot dog for example. Would you pay $50 for a hot dog? Of course not --- the perceived value is much lower than the asking price. On the other hand would you pay $1500 for a brand new 3 bedroom house? Of course you would. Even if you didn't have $1500 you would beg, borrow or do whatever it takes to come up with the money. You would go to the trouble because of the Great Value compared to the asking price. There are many opportunities to choose from. Be sure to choose one that's product has a high perceived value and a high profit margin. It takes time, patience and research but you can find opportunities that pay high commissions. In all businesses there will come a time that you will hit a dry spell. You just can't seem to find anyone that is able to see the value in your product or possibly you will start running low on money. If you truly believe in your product and have invested a good chunk of time and money into it you will be less likely to just give up. With a low priced product it is much easier to just give up and move on to something new. This is part of the reason that so many people fail --- they just jump from one opportunity to another. Do your homework first -- Be sure you believe in the product -- Invest a good chunk of time and money into it (this will help you to stay motivated when the going gets tough) --- be sure the perceived value is high --- be sure there is a high profit margin. Betty Ann Wilkins © 1999 *This article available by autoresponder at: mailto:article_17@sendfree.com Betty Ann Wilkins, Publisher/Webmaster New Business Start-ups - Working from Home Resources, Information & Tons Of Freebies: http://www.the-work-at-home.com/
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