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She Means Profit

The She Means Profit Podcast is devoted to helping entrepreneurs master their finances and launch, grow, and scale their businesses. Simple, digestible, actionable advice from Melissa Houston, an accredited CPA with over 20 years of experience. Real business owners, real talk, real solutions.

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She Means Profit

Top Priority for Product-Based Businesses

May 08, 2023 • Melissa Houston • Season 1 • Episode 147

"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

Highlights:‌

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

Cash Confident Book: https://www.amazon.com/Cash-Confident-Entrepreneurs-Creating-Profitable/dp/1637586361/ref=sr_1_1?keywords=cash+confident+melissa+houston&qid=1684071072&sprefix=%2Caps%2C57&sr=8-1

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Links:‌ ‌