Is there enough profit in it?

Here’s a story about increasing your profit margin from 17% to 117% to 1,017% …

… I want his “Irish friend” working for me!

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5 Responses to “ Is there enough profit in it? ”

1. Steve says:

   March 21, 2010 at 8:32 pm

   Interesting. But is that repeatable? Can it be done in other industries? perhaps.
2. Mike Hunt says:

   March 22, 2010 at 6:51 am

   Hate to be the doubting Thomas (or doubthing Mike as it were) but isn’t profit margin calculated by: Profit Margin = (selling price – cost)/Selling price?

   If so the maximum profit margin you can get is 100% in theory… not sure how you can get a 1017% profit margin!

   A 1017% mark up, maybe but not a profit margin.

   Then again if I really knew the secrets I wouldn’t be running a business, I’d just be selling books and seminars.

   -Mike
3. Adrian says:

   March 22, 2010 at 3:47 pm

   @ Mike – A mate of mine buys stuff for $1 and sells it for $3; he thinks he’s getting a 3% margin!!? Such a dope, driving around in his brand new Bentley Continental drop top
4. Mike Hunt says:

   March 23, 2010 at 7:40 am

   AJC,

   Not to be pedantic but if I didn’t get my math straight, my board would ‘correct’ me…

   BTW, I’m in Brisbane this week and plan to get up to Noosa on Thursday.

   Cheers mate, it’s great down here!

   -Mike
5. Coach says:

   September 18, 2011 at 11:22 pm

   Great concept… I sell online courses online, many of which consist of a series of modules. For example, one of my courses had 18 modules and I frequently had people ask if they could simply purchase one of the modules because they weren’t interested in purchasing the ‘whole course’.

   I later setup 2 packages… One that included the entire course and the other whereby each of the 18 modules had a ‘cost’…

   Ended up making far more profit from the individual modules…

   It can definitely work in different industries…