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Although there are advantages to selling your own proprietary products and
services, there are also drawbacks. For example, the time and investment
required to produce your own book, invention, or other product could mean
a long delay in receiving profits and cashflow essential to your business
For this reason, you may decide to sell other people`s products and services,
either exclusively, or to complement your own product line.
You could stock an entire retail store with products, buy a franchise or
other business, or obtain a distributorship or dealership. However, this
could require a substantial financial investment.
Here, then, are just a few, low-cost ways to profit from selling other people`s
products and services.
1. Commission Sales
Act as a sales representative or agent of a company and sell their products
or services for a percentage commission of the sales price.
Many companies on the Internet offer associate or affiliate programs that
you can join to earn commissions selling their products and services. Sometimes
you can even make money from the efforts of other affiliates who sign up
through your website.
Thus, without having a product of their own, some persons are earning their
sole but substantial income from affiliate programs.
You could buy inventory wholesale and try to sell it retail, but what if
it doesn`t sell? Even if you do sell, do you really want all that money tied
up in stock? For these reasons, many businesses use drop shipping as a method
of doing business.
Whether from your home, retail store, directly from your website or through
an online auction, you can arrange to sell an item before you purchase it.
That way you have nothing invested in inventory and won`t get stuck with
stock that won`t sell.
For example, let`s assume that you have just sold a product to a customer
for $100.00 plus shipping charges of $15.00. Having received the customer`s
payment, you now need to e-mail or fax your order to your drop ship supplier.
You will need to pay your supplier your cost of $50.00 plus $15.00 shipping,
leaving you a $50.00 gross profit. Your supplier will now ship the product
to your customer.
Joint venture arrangements can be profitable. As an example, you could arrange
to feature someone else`s product in your e-zine or newsletter in return
for a commission, even if they don`t presently have an affiliate program.
The above list of low-cost ways to make a profit from other people`s products
and services is by no means exhaustive. However, it certainly illustrates
that, with some effort, other people`s products could make you rich.
J. Stephen Pope, President of Pope Consulting Inc.,
has been helping clients to earn maximum business profits for over twenty-five
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