Sometimes after everything you do, your profit revenues do not seem to grow. At that point you must ponder and analyze how to increase profitability of your product.
Profitability can be increased by externally or internally.
External increase: This would mean that you generate higher revenue by increasing the number of sales or raisning the price.
Internal increase: Reduce your expenses in creating and delivering the product.
First of all, you need to ask the big question-
Is it possible to increase profit by external methods.?
If the answer is yes, next step is to ask if you intend to do it by increasing the number of sales or price raise or both. [Read more…]