Lose money and make a profit?!?! How is that possible? Using the Loss Leader Principle, corporations and entrepreneurs alike can get customers in the door to buy products and services.
The Loss Leader Principle is a method that involves selling one product for a loss of profit (losing money) but the business still profits from the overall order of the customer.
HERE ARE SOME REQUIREMENTS:
1. MUST be a perishable good
2. Placed in an inconvenient location of store
3. Limit the quantity that customers can buy
4. MUST be a frequently purchased good
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My name is Dick Polipnick and I have been an entrepreneur as long as I can remember. I started my journey as a businessman when I was in Junior High! I started a small property maintenance business, and by the time I was 17 I employed 20 of my peers, had two crews, and had bought out a local business! (One of my competitors!!!) I dropped out of the most prestigious college in the Midwest, and have started multiple businesses since! Now, I mentor people with entertaining education through YouTube and my Online Growth Systems network and newsletter (25,000 members strong!) I am a public speaker for entrepreneurship and solar energy. I wrote a book on Social Media Marketing and use my massive Instagram and Twitter following to spread good business practices.
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