You’ve been told that you need to have your priorities in order since the beginning of time. This will always hold true in business. What is most important to you and more importantly to your business? We will assume that making a profit is a top priority for your business!
Let's say for instance that you are currently in the process of developing a new product to offer and product(s) A, B, and C have yet to turn a profit, what are the odds that product D is going to turn you a profit? Priority #1 might be to analyze A. Why didn’t it make you any money? Did customers buy in to it? If they didn’t buy in to it, why didn’t they? How did you market it? Was it poorly constructed? Was it poorly delivered? As the saying goes, “if you always do what you’ve always done, you’ll always get what you’ve always got.” If you go on to product D in the same manner that you produced and/or delivered A, B, and C, you probably shouldn’t expect to get anything more than you’ve gotten in the past.
Get your priorities in order first and then move on. Prioritize your strategy for profiting by doing something different. Don't continue to do the same unprofitable things that you've been doing with hopes of thinking that those things will one day work! Try something different...take a thorough examination of what profitable people are doing....repriortize....develop a profitable strategy....implement it and go from negative to positive profits!
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