amp0193
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Why wouldn't it work? Why panic? Just raise the retail price to whatever it needs to be to make a profit.However, this new discovery of my unit costs being higher than I planned for was combined with me underestimating product shipping costs and other misc costs. Great job past me!
Collectively, this caused a sudden state of panic to overwhelm me as I was faced with the possibility of my product not working for the first time. It was rough.
This supplier is in business because people like you buy their products in large quantities and then sell them for a profit.
It's not like the unit economics are different for their other customers.
The only unknown variable will be if people will buy it at a higher price point.
However high you think your upper price threshold is for this product... I guarantee that there are people who will pay more than that.
Some people don't buy products because they are priced too low (which signals low quality).
But the higher the price, the more you are required to deliver on product quality, service quality, and marketing ability.
The opportunity cost of focusing on your career is sacrificing your future for the short-term.(3) Opportunity Cost + Sacrifice:
Pursuing entrepreneurial success means I must acknowledge the relevant opportunity costs. For me, this involves not pursuing certain careers/further education so I can maintain focus on my business work.
The opportunity cost of entrepreneurship is sacrificing your short-term for your future.
It's your life, which way do you want to do it?