Thursday, February 24, 2011

A Fast Nickle is Better Than A Slow Dime

Ever heard the saying "a fast nickle is better than a slow dime"?

In retail, a product may sit on the shelf for weeks and you sit there wondering why. First thing you want to do is make sure it's visible to everyone. For instance, the counter top or window display. If that doesnt work, try lowering the price a bit. Don't worry about making less profit, because as long as it's sitting, you're making zero profit anyway. Advertise the price drop and see what happens.

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