How to Make Money

2014 Tax Planning – Goal Setting

How to Make Money

Four basic steps can help you produce income with your Product or Service.

1)      Monetize your idea – Bring it to the market place where you can make cash by selling it to customers.  Prepare the idea (either product or service) for sales. Organize all the information you feel the consumer should know into a deliverable system. This could mean creating a package for your item, a brochure for your service, or an environment to best display the items. Putting thought into this area is key. Make your product or service attractive to the consumer.

 

2)      Promotion –Most products will gain momentum during the advertising stage if it is packaged appropriately for marketing.  Think about how you would like to spread the word of your service or product and prepare the proper packaging to make it attractive to the consumer.   If your product/service fumbles during the advertising stage, review the packaging. Without proper presentation the idea won’t gain marketing interest. Seek assistance from Design & Advertising specialists, if needed.

 

3)      Advertising – Find multiple ways to advertise your idea to the appropriate market. Newspaper, Radio , Door Knockers, Network Marketing, Social Media. Spread the word. Using more resources creates a larger audience.  Start big, blast the announcement. With solid packaging, attractive presentation, and strong advertising most products/ services will gain momentum. Be ready. Prepare ahead.  Plan to continue advertising again after the initial rush. Advertising is a continual process.

 

4)      Review – All these steps set up the business for a great beginning. Once the business is past the infancy stage and past the developing stage, it’s time to review the progress. How is it going? Is the product or service selling as you would like it to? Are you gaining the community acceptance at a level that you feel is appropriate? If the answer is Yes, Great! Keep up the good work. If the answer is No, think about what is missing. Are you presenting to the appropriate audience? How are you presenting? Is your product or service meeting the consumer’s needs? Does it need to be repackaged to create attraction to the appropriate market? Consult friends, Business associates, and Professionals to get fresh thoughts for improvement.

 

 

Steven Z. Freeman, CPA provides Tax Planning and Business Accounting and can assist you with these services. If you have any questions on this matter, or to schedule an initial consultation, Please call us at (805) 495-4211.

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