How to start a high profit business? This seems to be the million-dollar question – but is there a million dollar answer?
If you’ve read my main website, (click here to discover the secrets to joining this limited membership program) you might remember I mention the benefits of the AustraLab program as being a high profit business which is difficult for others to copy, where you are in control (at no one’s mercy), and producing everyday necessity consumables.
I couldn’t help but smile when I read a new book, just recently released: The Millionaire Fastlane – Crack The Code To Wealth & Live Rich For A Lifetime, by MJ DeMarco.
Better than Rich Dad Poor Dad, Better Than Think And Grow Rich, better than any book by Donald Trump … this is a great book about how to start a business – not just any business, but a high profit, high success business. It’s a book which I hope you have the chance to read.
The reason I smiled when I read his advice, is because these are the very reasons that I have been able to enjoy great financial success myself – and the same philosophies I have been passing on to others for many years.
I’ve included three of DeMarco’s top millionaire high profit business strategies below – you can read the remaining concepts on his blog.
If you make makeup,make cosmetics, make shampoo or hair care, toiletries, etc you are indeed creating a business making products which are based on both a “fundamental need” and “pleasure”. As a bonus, many people actually will be able to follow their passion – cosmetics and makeup manufacturing is a “dream” job for many.
If you make detergent, you have a business based on “fundamental need” and “convenience”.
Is there a single person or business on the planet that does not use cosmetics, hair care, toiletries, detergent on an almost daily basis? And, unlike cars, computers and clothing, these items are everyday consumables which must be replaced as used. There will always be a fundamental need – today, tomorrow and in 20 years time.
If you start a successful business, once people see you making money and enjoying success, if they can copy you, they will – it seems an inescapable fact of life. You’ll end up spending a good slice of your time, energy and money continually striving (if not struggling) to stay ahead of your competitors, who will shamelessly copy your every innovation.
How many of your friends, colleagues or neighbors could copy you if you started a business making sandwiches or pizzas, cleaning homes or offices, mowing lawns, detailing cars or retailing clothing or toys? Or writing a blog about training dogs, growing veggies or parenting? These are classic “anyone can enter” businesses. There are few, if any, secrets. The door is open wide.
How many of your friends, colleagues or neighbors could copy you if you started a business making makeup, cosmetics, skin care, hair care, detergent and cleaning formulas?
The barriers to entry in this business are big – the padlock is strong.
Very few people know the trade secret formulations of how to make makeup, making cosmetics, making skin care, hair care and making detergent. Very few people know the manufacturing secrets to make the maximum possible profit from these products. Very few people know the marketing secrets to find the untapped potential markets which could make them millions. Those who know usually keep their secrets for themselves. The door is incredibly difficult for the average person to enter.
You might be interested to read my blog post on how this applies to making money online.
When you own the cosmetics, skin care, hair care, toiletries and detergent formulations - (which is precisely what I offer AustraLab licensees) you own your business. You pull your own strings. You are in control. There are no contracts, no royalties, no leases, no ropes around your neck.
Internet marketers have to exactly do as the Big G tells them – a simple change in algorithms and they could lose their business overnight (it happened to thousands of websites – including some of the biggest players – just a few weeks ago). Would you want your business, your financial lifeline, at the mercy of an internet search engine ??? Franchisees have hundreds of rules and regulations to obey, while continually paying royalties and fees. Retailers need to pray their leases are renewed (at reasonable rent).
As an AustraLab licensee, you can buy your raw ingredients from any number of suppliers. You can choose the packaging. You can choose the colors and fragrances. You can choose to make a few different products or 100. You can choose what hours to work. You can work from home, or any other location you choose. You can cover any geographical area – even operate internationally.
And unlike a popular bath and body products franchise, it won’t cost you a minimum of $120,000 to get started promoting a brand that does not even belong to you, in a shopping centre with crippling rent and overheads.