10 Commandments Of Profit Building

There are 1000 things in​ our lives that we never see until we need something in​ them. “Niches are like bathrooms; you never notice one until you need it." -Primm (The Niche Man)

#1 The person who finds a​ new niche claims the cream of​ the financial awards.

Gates built a​ platform for computers to​ operate on and made billions. Someone made pulpless orange juice.

It’s shocking at​ how few books are written on the subject of​ niche buildings. an​ under marketed niche is​ worth a​ billion dollar marketing campaign.

#2 The best niches are built on the foundations of​ success.

A niche is​ a​ new idea, but it​ is​ marketed on a​ foundation that has been proven successful. Never think that a​ new product is​ all you need. You also need a​ strong marketing platform.

#3 The best new product is​ an​ old one that has been adapted.

The simplest way to​ create a​ new idea is​ to​ do what others have been doing for years, and improve it. Adapting a​ current product to​ solve more problems and add more value for the money.

#4 The best way to​ increase profit is​ by adding to​ a​ current product.

The best selling product can be improved by adding something to​ it. This is​ a​ twist on the adaptation principal. Both adding and adapting products that are currently big sellers is​ one way to​ increase profit.

#5 Two is​ always better than one.

Combining two products that compliment each other is​ a​ way to​ let business owners increase the price of​ both – even if​ both products are currently on the market. Convenience sells. People would rather buy a​ product that is​ adapted to​ improve its effectiveness, has something added to​ increase value, and then is​ combined with something that improves is​ usefulness.

#6 Customize the product.

Too much choice can loose the sale. However, offering a​ customized program will increase sales. a​ company that sells ‘how to​ start a​ business’ products can increase sales by directing customers to​ a​ work at​ home, small business, and big business packages.

#7 Give people a​ chance to​ grow with the product.

People hate change. That is​ why computer programs have plug-ins, expansions, and upgrades. in​ truth, it​ would cost nothing to​ package the original program in​ every new version. However, people would be more likely to​ change products if​ they believe that they are getting a​ whole new package. However, loyalty is​ built if​ they believe they are improving their ‘tried and true’ product.

#8 Entertainment sells.

Entertainment has become a​ focal point of​ our culture. Many people need to​ be entertained, amused, or​ fascinated before they spend their money. a​ relaxed customer spends more. a​ few ‘tools’ that entertain customers before they buy can make a​ big difference when it​ comes to​ their attitude when hit with the ‘buy now’ decision.

#9 Guarantees and Promises sell.

Consumers want to​ know how long their product will last and what they can expect. if​ people can expect to​ live longer, happier, wealthier, or​ with less work, then they will buy the product.

#10 Freedom

People hate to​ be tied down. They are always looking for anything that will break their chains and set them free.

Bringing together as​ many of​ the 10 commandments of​ Profit Building will help business owners improve their bottom line, and build their own wealth.

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