Article Body:
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.
2. Exporting
Exporting your product to other countries can
dramatically increase your sales. Hiring an Export
Management Agent can keep your fixed costs
down.
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.
4. Online Auctions
You can also sell your own proprietary products
through Internet auction sites such as eBay or
Yahoo! Auctions.
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.
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.
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.
Summary:
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.
