Can you say Profit Margin or better yet what is profit margin? The answer: A ratio of profitability calculated as net income divided by revenues or net profits divided by sales. It measures how much out of every dollar of sales a company actually keeps in earnings. Who knew that factoid besides corporate marketing strategists? Well I can tell you who knows now…the moms of Ganamos.
They have successfully conquered week two of the program. They participated in their first English class, and computer class, and brainstormed like crazy in a marketing class. The moms did some serious research. Who is the target audience and how to develop a relationship with them, retail cost Vs. material cost, trend Vs. fad, so many details to consider. Do you develop products for utility or strictly for decoration? The moms were ablaze with questions and ideas. They discussed how many ideas they may have to go through before connecting the perfect product with the buying public and how to make their products relatable through photos and descriptions. They learned how to price their products and were able to see how similar products were selling. And let’s not forget the banking aspect. Pay Pal accounts and bank accounts, can you have one or do you need both? It's just the tip of the iceberg and the moms came ready. If week two is any indicator to the moms’ success then the sky’s the limit. The Ganamos moms have displayed an inherent business sense and intense creativity. Week three should be a breeze.
