Work At Home - Determining Cost Vs Value
One of the biggest mistakes that I have seen Internet entrepreneurs make is pricing their products. This is especially true when it comes to Ebooks and intellectual properties. It seems that most folks think that items should be marked up based solely on the cost to produce the item and they often disregard the value of the product.
Computers and the Internet have made it simple to produce your own Ebook. In fact, you can do it for free in some cases. This has led to an avalanche of self- publishing on the Internet. The other great thing about Ebooks is that you never have to invest in the physical production of the product and you don’t have to keep your money tied up in inventory. There is also no need for postage because the customer can download the Ebook instantly from a website. The point is that the cost to produce these books is less than the cost of a gumball from a vending machine.
Some intellectual properties such as Ebooks, contain a wealth of information that I would be willing to spend way more than $9.95 on, especially if the insight saves or makes me a lot of money in the long run. Just because your not going to the bookstore and plopping down $50.00 for a hardcover reference book that cost more to produce and inventory, doesn’t mean that an Ebook with the same or better information should be sold for less than $50.00. My point is that I am paying for the knowledge contained in the volume and not the paper it’s printed on or the covers and binding that hold it together.
This same concept is true for freelance programmers, web designers, and just about everyone else doing business on the Internet.
Now I know that there are a lot of junk Ebooks, programs, products, etc on the Internet and I am not referring to that garbage that is being produced. I am referring to the legitimate authors and resellers that are reputable and can be trusted.
I wrote this because I want to make sure that legitimate, reputable, quality authors, programmers, and sellers get what they deserve for their hard work and perseverance. DON’T SELL YOURSELF SHORT. Know your market before you set your pricing for anything you are selling. An item is worth what people are willing to pay for it. You can start by charging a higher price and then gradually lowering it in small amounts until you start seeing the product sell. Now you know what a good price point is for your product.
You should get paid for what your product is worth and nothing less!
Good Selling,
Gary
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Tags: detemine cost, ebook, intellectual properties, self publishing, Wealth Magnet System, work at homeRelated Posts