Many new business owners and investors believe that profits depends on the price of the product, and the number that are sold. Whether the product is a house, a course, an investment product, or an ebook, profit and loss is dependent on more than the price of the product and the number that you sell.
ROI
Return On Investment, the ROI, refers to the amount of profit you earn on every dollar spent. Two businesses may sell product A for $100 each. Company A may have an ROI of $40. Company B has an ROI of $20.
Both of these companies sell the same product, for the same price, but company A is better organized, has fewer expenses, and sells more products for the same cost.
A low ROI can be the result of poor office management, or a poor sales record. There are several different factors that may lower the ROI. But, in short, the ROI is based on the number of sales you can generate on your yearly operating budget.
The more sales you generate, the higher your ROI.
There are several ways to increase your ROI. The first is to take a close look at the cost of operating your business. Many businesses operate under a lot of waste. They...
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