fewer returns, etc.). It’s less headache. This is HUGE. 3. Higher pricing also creates higher profit margins. It’s safer. I personally aim for an 8—/0x markup, which means a $100 product can’t cost me more than $10— 12.50.24 If I had used the commonly recommended 5 x markup with BrainQUICKEN, it would have gone bankrupt within 6 months due to a dishonest supplier and late magazine. The profit margin saved it, and within 12 months it was generating up to $80,000 per month. High has its limits, however. If the per-unit price is above a certain point, prospects need to speak to someone on the phone before they are comfortable enough to make the purchase. This is contraindicated on our low-information diet. I have found that a price range of $50—-200 per sale provides the most profit for the least customer service hassle. Price high and then justify. It Should Take No More Than 3 to 4 Weeks to Manufacture. This is critically important for keeping costs low and adapting to sales demand without stockpiling product in advance. I will not pursue any product that takes more than three to four weeks to manufacture, and I recommend aiming for one to two weeks from order placement to shippable product. How do you know how long something takes to manufacture? Contact contract manufacturers who specialize in the type of products you’re considering: http://www.thomasnet.com/. Call a related manufacturer (e.g., toilet bowls) if you need a referral to a related manufacturer you cannot find (e.g., toilet cleaning solutions). Still no luck? Google different synonyms for your product in combination with “organization” and “association” to contact the appropriate industry organizations. Ask them for referrals to contract manufacturers and for the names of their trade magazines, which often contain advertisements for contract manufacturers and related service providers we’ll need for your virtual architecture later. Request pricing from the contract manufacturers to ensure the pro