🏫What Did I Learn Today?
Today I learned the idea of “exclusivity” when it comes to selling products to vendors. Exclusivity is the idea of only allowing a few vendors (2 or 3) to sell your product. If you observe common retail products like shirts, or something, they really are only making profit for maybe a few years.
This is because most retail products avoid the idea of exclusivity. Instead of selling only to a few vendors, they sell to hundreds.
When exclusivity is not the case, vendors will compete with other vendors selling the same product which, in the end, drives your over-all profit margins down.
⚒️What Am I Working On?
I’ve been messing around with Google AdWords to market The Digital Foundations Course
Broader is very rarely better. More is not always better. Having a few, productive vendors is FAR greater than many so-so vendors.
🙏What Am I Grateful For?
I’m grateful for my Dog.