The selection of the right product or service is critical. In fact, the choice of a product or service for your business can make or break your business. Choose a product that requires significant production capital when you have none and couldn’t find any, and your business is compromised from the start. Offer a service that a hundred other entrepreneurs offer in your locality and you may find it hard to get noticed above your competitors. Or select a product with an extremely specialized market yet you do not know how to reach the potential customers, and your business can go kaput.
Your products or services define your business. Your products are your business! If you want to turn your business into an income-generating machine, the first step is to choose the right product or services to sell.
With the right products, you even stand a better chance at keeping your customers. The idea is to keep your customers forever by continually offering them a valuable product or service, thereby diminishing your costs of reaching and appealing to them. Wise product selection is therefore critical to your business success.
How do you choose the right product to sell? Here are a few questions to help you narrow your focus and hopefully select the product that will work for you.
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Answer:
The selection of the right product or service is critical. In fact, the choice of a product or service for your business can make or break your business. Choose a product that requires significant production capital when you have none and couldn’t find any, and your business is compromised from the start. Offer a service that a hundred other entrepreneurs offer in your locality and you may find it hard to get noticed above your competitors. Or select a product with an extremely specialized market yet you do not know how to reach the potential customers, and your business can go kaput.
Your products or services define your business. Your products are your business! If you want to turn your business into an income-generating machine, the first step is to choose the right product or services to sell.
With the right products, you even stand a better chance at keeping your customers. The idea is to keep your customers forever by continually offering them a valuable product or service, thereby diminishing your costs of reaching and appealing to them. Wise product selection is therefore critical to your business success.
How do you choose the right product to sell? Here are a few questions to help you narrow your focus and hopefully select the product that will work for you.