G
GuyFromSingapore
It's all fun games until someone gets punched
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Just because you sold 1 product in 1 day, doesn't mean that product is high selling.
You should have like 100 items of 100 products and see which sells the most.
Different people buy different products for different reasons.
Everyday products are being sold everywhere. Some products are more high selling than others. Some products have higher profits than others because of market principle, like a TV which has like a 10% profit.
If you sell 100 products with 5% profit vs 20 products with 10% profit.
Assuming the 100 products cost $10 each. So you get $50 sales.
VS
20 TVs that have 10% profit of $1000 each. Meaning you earn $2000 from it. Of course 20 TVs cost $20 000 capital.
But of course with that $20 000 capital, you could sell 2000, $10 products and make a profit of $1000.
If you can sell the $10 product atleast 2.5 x faster than the TV than you will get more profit from selling the $10 product.
Now if every business men realized this, they will all coallesce and try to sell this $10 product.
Meaning of those businessmen, some who wanted to sell TVs might have chosen selling $10 products over the TVs because of higher sales.
So that means reduced competition and the better option would be to sell TVs instead.
You should have like 100 items of 100 products and see which sells the most.
Different people buy different products for different reasons.
Everyday products are being sold everywhere. Some products are more high selling than others. Some products have higher profits than others because of market principle, like a TV which has like a 10% profit.
If you sell 100 products with 5% profit vs 20 products with 10% profit.
Assuming the 100 products cost $10 each. So you get $50 sales.
VS
20 TVs that have 10% profit of $1000 each. Meaning you earn $2000 from it. Of course 20 TVs cost $20 000 capital.
But of course with that $20 000 capital, you could sell 2000, $10 products and make a profit of $1000.
If you can sell the $10 product atleast 2.5 x faster than the TV than you will get more profit from selling the $10 product.
Now if every business men realized this, they will all coallesce and try to sell this $10 product.
Meaning of those businessmen, some who wanted to sell TVs might have chosen selling $10 products over the TVs because of higher sales.
So that means reduced competition and the better option would be to sell TVs instead.
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