Post
Topic
Board Economics
Re: You want to become a millionaire,here is the secret formula
by
spy100
on 12/08/2020, 14:20:52 UTC
Don't forget about the cost of capital unless you sell something without any capital but you won't get the whole cut if you are just commissioning.
There are expenses that you need to consider too. For celebrities, known people, they have their network and they are the ones who can actually sell products easily.

The more expensive the product the harder it is to sell do to fact not many people have money to buy that product  and it's specialized/custom .... beside trusted sellers
The cheaper the product ,means you have more competition  do to fact you have a easy to make product and it's harder to sell ...

Some people know how to balance this somehow ..that is why they get rich ...

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I am looking at shops in my city and all day they sit and wait for clients no matter if fast food,cheap clothing,barber shops,cheap food etc ... it's the same ... the only stores that have high volume of customers are supermarkets and malls ... makes no sense as same prices ...why would a customer go for a supermarket if price is the same at corner shop...