So now that you’ve established what buyers are prepared to pay (Part 2), and what your costs are (Part 3), how does it look when you subtract your costs from the potential price range?
Are you dancing in the streets over your pending wealth? Great! Then you’re almost done. Just some critical fine-tuning to go.
Or did your numbers show low or nonexistent profits? No need to bang your head against a wall or swear. There are a number of ways you can turn this around, and you’re about to see them all in this chapter.
If you can make a healthy profit given your costs and the price buyers will pay for your combination of benefits, negatives, and price position, you’re still not quite finished.
There are enormous differences in buyer demand based upon pricing psychology, which we cover in the next chapter. You can skip there right now, or read the rest of this chapter to find possible ways to increase your profits even more.
Yes, it’s disappointing to see low or no profits for an idea you have spent a lot of time developing. But there are still a number of choices available to you.
Best of all, you discovered the problem ...