BUY AND DON’T SELL WORTHWHILE ASSETS.

Usefulness, functionality, appreciation or cash flow. All are worthy goals. Items for personal use, once paid off, go from assets with liabilities against them to pure assets. Yes, old, expended, or unwanted assets may be sold, repurposed, or donated. The value of assets may be determined in several ways. The most fun way is costContinue reading “BUY AND DON’T SELL WORTHWHILE ASSETS.”

ONE OF THE WAYS I HAVE COME TO TRUST VENDORS AND SALESPEOPLE IS WHEN THEY TELL YOU…

to think of the larger, more important picture and not just focus on their need to make the bigger sale. what may be a scam. what positive and negative features may benefit you, or important to recognize. what/when you do not need to buy. what costs too much for the value obtained. how to avoidContinue reading “ONE OF THE WAYS I HAVE COME TO TRUST VENDORS AND SALESPEOPLE IS WHEN THEY TELL YOU…”

A GENERAL PRINCIPLE IN PRICING THE SALE OF SMALL, MANUFACTURED ITEMS IS THAT THE MANUFACTURING COSTS SHOULD BE 1/10, OR LESS, OF THE SELLING PRICE. FOR EXAMPLE, IF IT COSTS $1 TO MAKE AN ITEM, THEN THE ITEM SHOULD BE PRICED TO SELL FOR AT LEAST $10. IF MANUFACTURING COSTS ARE $10, THEN THE ITEM SHOULD SELL FOR AT LEAST $100.

Manufacturing costs have to be 1/10th, or less, of the selling price because there are additional costs associated with: advertising, marketing, research, development, prototyping, inventory, packaging, transportation, insurance, breakage, returns, etc. Also there has to be a profit margin. This is one of the driving reasons why manufacturing is offshored, in order to minimize laborContinue reading “A GENERAL PRINCIPLE IN PRICING THE SALE OF SMALL, MANUFACTURED ITEMS IS THAT THE MANUFACTURING COSTS SHOULD BE 1/10, OR LESS, OF THE SELLING PRICE. FOR EXAMPLE, IF IT COSTS $1 TO MAKE AN ITEM, THEN THE ITEM SHOULD BE PRICED TO SELL FOR AT LEAST $10. IF MANUFACTURING COSTS ARE $10, THEN THE ITEM SHOULD SELL FOR AT LEAST $100.”

IN SALES, THE SALESPERSON WANTS YOU TO SELL THE ITEM TO YOURSELF… FOR YOU TO PAINT A PICTURE WHY YOU NEED THIS ITEM, OR SERVICE NOW, RATHER THAN LATER. SOMETIMES THE SALESPERSON HAS TO IMPART A SENSE OF SCARCITY AND URGENCY TO HELP CLOSE THE DEAL.

Charles Tadros M.D. July 22, 2021 Saint Louis, Missouri

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