30 ways to always make $$

30 ways to always make $$

1. Always pay less for your product or service than you charge.
2. Never undervalue yourself or your product.
3. Create a brand no matter the product.
4. Always pass any fine or tax cost on to the customer (see #1).
5. Always know Fair Market Value (FMV) for your product; if you can’t provide it for that or justify a higher cost, then don’t sell that.
6. The value of your product is 75% perception and 25% intrinsic.
7. Creating value in your product or service is the only way to create wealth from it. 
8. Know your market niche. 
9. Know who your customer is and identify changes as soon as possible.
10. Advertisements need to be directed at your customer base, not just to everyone (see #9).
11. Always do a risk VS reward assessment before anything in business. 
12. Be cautious with other’s money as if it were your own.
13. Before investing in anything that is established, do a trend analysis to see if it has  significant potential for continued growth (or is it stagnant).
14. If your product or service does not continue to grow your business is stagnating and you need to revise your business model or plan no matter how great your profit.
15. Always ask questions (polling) of your current customers to understand why they are your customer, and how you could improve.
16. Research similar products and / or services to see why yours is better. If yours isn’t better you have some options; improve it to meet cost, increase perceived value in it, lower cost and increase volume, or concede the market and develop a different product or service.
17. Never keep business partners that aren’t better than you at what they do.
18. Your customers should not take more risk than you. 
19. The customer’s opinion affects your business. If they are not happy it is because they don’t see value in what you have to offer, and neither will most potential customers.  
20. Stand behind your product. Either replace it or exchange for another product of greater value to them. If they know you stand behind your product that alone will add major value.
21. Look at your competitor’s business models and improve upon them.
22. Audit your product or service regularly to make sure that its quality has not diminished over time (reproducing is like making a copy of a copy; over time it tends to diminish in quality).
23. Use your competitor’s products from time to time to understand why yours is better, or where you need to improve.
24. Invest in your business and pay yourself not more than 33% of true profit (after cost of materials, employees, taxes, utilities, etc.). This way you will have a sense of how your business is doing at all times and won’t overpay yourself.
25. Customers like “new and shiny” keep your product new.
26. Always invest in Research and development (see 22).
27. Your return on investment (ROI) should never be longer than your product will hold value.
28. Forecast your product’s value in the market as far ahead as is reasonable.
29. Your product should have optional components that imply greater value to the customer. Don’t lead with the fully optioned.
30. Remember that Work isn’t all that matters; what are you working for? Don’t forget to live your life and not put it on hold for a possible later.