From my recent talk to the Business Owner.
I buy fidgets in China for ten dollars, I advertize them on Google AdWords, I sell them for a hundred dollars, and I am losing money. What should I do?
You have a bunch of options:
1) Don’t sell fidgets, sell widgets.
2) Advertise not on AdWords but somewhere else where its cheaper.
3) Sell fidgets for two hundred dollars.
You can apply those options individually or all together.
- But I really love selling fidgets, and the right price for fidgets is precisely one hundred dollars, and I am good at advertising on AdWords. All I want is to make a profit. How can I do it?
- You can not.
- You’re lying.
A problem becomes unsolvable only in one case – when you put too many restrictions around it. Instead of banging your head against the wall – remove the limitations. Limitation removal can not be done with school assignments, but it is usually possible with real-life problems that Business Owners are solving.