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Author: J. Stephen Pope Article source: http://popeconsultinginc.com/. Used with author's permission.
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.yenommarketinginc.com/
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