Brand performance can be both sticky and sweet at the same time. You want to make your brand sweeter, but sometimes only the sticky truth can get you there. That is why we turned to Edwin Miranda for some advice on how to achieve those goals.
1) The volume has to be there to make it worthwhile, according to Edwin Miranda. You have to have more than one or two people interested in what you offer to make money.
Someone recently told me their volume orders are higher than usual right now. That means products meet the need for a lot of people, especially when they add more than 80 new items to their online inventory.
That is the type of business you need to be doing on a regular basis, according to Edwin Miranda.
2) Do you have the sustainability to keep brand going? Sustainability requires two things: Dependability and longevity.
In other words, do you offer something rare that no other person does? An example of that would be a person who sells music DVDs for performance artists. Do you offer DVDs that are rare and hard to find? Do you have the type of artists that fit every genre and almost every client type? That is a great example of someone who has sustainability, according to Edwin Miranda.
Customers know they can come to you because you offer rare music performances for artists that encapsulate every music genre, including titles from Madonna to Motorhead.
3) Do you have a solid profit margin? Your profit and loss statements should tell you everything you need to know. Your profits need to be enough to be better than breaking even each month.
Gross income- taxes and bills= net income.
Your net income needs to be enough to keep you afloat no matter what the economic climate is.
Edwin Miranda’s: Facebook Page