Let's say you sell a product, such as a heavy-duty blender that you drop ship from a contract manufacturer. You sell it for $X, buy and ship it for $Y, and you make $(X-Y). How can you increase your revenues and profit margins?
One way is to build high-margin information products that you can bundle with your product. In the case of the blender, you can "upsell" a deluxe set that features the blender and a recipe book.
The value of the recipe book is in the quality of the recipes, which isn't dependent on the printing / shipping costs of the book. Thus, the recipe book can increase both your revenue and profit margins.
© 2019 Praveen Puri
Praveen Puri is the Strategic Simplicity® expert who identifies the key changes that result in dramatic improvement. Visit PuriConsulting.com
