Saturday, April 4, 2009

Demystifying Profit Margins and Markups

Many of the inventors I meet got started because they wanted an outlet for their creativity or sought more freedom in their careers. Rarely do I meet someone who has approached inventing from a number-crunching background. It seems that many inventors just aren't that comfortable with "the numbers." However, if you create a viable product, you've got to sell it. And pricing and profit margins are a critical part of that process.

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