Wednesday, August 7, 2019

These small opportunities can be your big opportunity

    It is entirely reasonable to expect a $10,000 profit from selling 1,000 bottles of perfume. That's ten dollars per bottle profit after production, marketing, and administrative expenses. To do it you produce only 1,000 bottles of perfume, not one bottle more.

    A market where you know you can't sell more than 1,000 bottles of your perfume may seem like a small opportunity. But if, in that market, you have good reason to believe that you can sell 1,000 bottles, $10,000 isn't such a bad profit. You could use it to develop another perfume for another small market or perhaps develop a perfume for a slightly larger market.

    To go about this successfully you have to nail down two requirements. First you have to know your market, the people in it and their tastes, and they have to know you. Then you have to know how to produce an acceptable perfume for them at a cost per bottle that will give you the markup you need, a healthy markup indeed. (See "Creating Your Own Perfume With A 1700 Percent Markup!")

    If you're not comfortable plunging into a perfume promotion, even a small one, you might find comfort in reading "How To Make Your First Perfume For Under $500". That book is free and it tells you a great deal about putting a fragrance together at a lower cost per bottle than many people believe is possible.

    Now about that small market where you can sell your 1,000 bottles of fragrance successfully. I mentioned that in addition to having to know the people in that market, they have to know you. How this works is simple for someone who already has a business such as a large retail store and meets his or her customers face to face. Likewise someone who is, say, a performer is likely to have a following and today it would be unlikely that this following could not be reached through social media. There are also a number of people who, for whatever reason, have a strong social media following. These are examples where "people who you know and who know you" are to be found.

    What about the person who is ambitious to sell their own perfume but does not have an obvious market for 1,000 bottles of perfume? I have a few thoughts on this that I am putting together in a separate blog post that I will share with you in a few days.

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