She Means Profit

Top Priority for Product-Based Businesses

May 08, 2023 Melissa Houston Season 1 Episode 147
She Means Profit
Top Priority for Product-Based Businesses
Show Notes

"When running a product-based business, profitability should be top of mind."

—Melissa Houston

Creating 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 businesses
  • Price strategies in product-based businesses
  • Effective marketing plan that is crucial for visibility and success
  • Building a strong brand identity
  • Essential of quality control
  • When to consider investing in equipment and manufacturing
  • Prioritizing the profit in your business


04:19  Product-based businesses built on a solid financial foundation
06:00  Things to consider if you have a product-based business
06:20  Setting your prices
08:19  Packaging of the product
09:50  Marketing for your product
11:19  Considering manufacturing cost
12:42  Distribution of your products
15:42  Providing excellent service
17:10  Return policy

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