If you can cut products and streamline your product offering, do it today.

Can You Let Go of Products That Are Not Bringing You a Profit?

As small-business owners, we often make the mistake of believing our path to greater revenue must involve creating and selling new products. That logic makes sense. We launch one product, it starts to sell, we enjoy the positive cash flow, and we want to duplicate our efforts with another product. Repeat. But that only makes sense if we’ve reached

Sometimes a product can be sold at a loss because it brings in customers who may buy more profitable products, but these instances are the exception to the rule.

All you have to do is figure out how to work just as hard as you’re working now and provide 2x, 5x, or 10x the value you offer to customers.

“What if you charged a company $10,000 to teach their employees how to do a dance and then filmed that routine at their place of business? Would that be hard?” I asked. “No,” they said. “That’s what we do. We teach people how to dance.” “Yeah,” I continued, “but if you teach a little kid to dance, you get $250 over six weeks and you have to pay for

If you had to increase your current revenue by 25 percent in six months, what would your first move be? Likely, you’d ramp up your marketing and sales engines. That makes sense. If the right and left engines gain more power, the plane will fly faster. What if, though, I removed those options?

You aren’t sure which of your products is really producing the most profit.

People are motivated to avoid discomfort just as much (if not more) than they are motivated to seek comfort.