The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future

Part II: Make More Money
 
 (Three Key Principles to Focus on Profit)
 
As we’ve seen, it’s usually much more important to focus your efforts on
making  money  as  soon  as  possible  than  on  borrowing  startup  capital.  In
different  ways,  many  of  our  case  studies  focused  on  three  key  principles
that  helped  them  become  profitable  (either  profitable  in  the  first  place  or
more profitable as the business grew). I’ve noticed that the same thing holds
true in my businesses. The more I focus on these things, the better off I am.
In short, they are as follows:
1. Price your product or service in relation to the benefit it provides,
not the cost of producing it.
2. Offer customers a limited range of prices.
3. Get paid more than once for the same thing.
 
We’ll look at each of them below.