http://www.midgsscratchpad.com Manage your money or it will manage you. Wed, 03 Mar 2010 02:26:49 +0000 http://backend.userland.com/rss092 en The next concept that we need to understand is costs of goods sold (COGS) or cost of sales.  Cost of goods sold  indicates the cost of the goods sold during some time period (i.e., one month or 0ne year) and can be defined in several ways.  COGS can be defined ... I was going to write about product pricing strategies and methods then realized there are several key concepts we need to understand first.  The first of these concepts is the difference between wholesale markup and profit margin.  These both refer to the same value but have considerably different meanings.  And ... Every retailer faces the same question "What do I sell?"  The answer to that question can come to you very easily or seem near impossible to find.  The answer itself is different for everyone and is as varied as the people asking it.  Some answers are quit clear.  Don't sell ... Owning and operating your own small business online can be  a very rewarding and satisfying experience.  Listed below are just some of the benefits you can enjoy as a small business owner. Work from home - No need to set the alarm to go off in the morning.  No more hour ... If you're going to work with wholesale suppliers you need to be a legal business.  There is no way around it.  Wholesale suppliers cannot legally sell to anyone who is not a business entity and has a valid state seller's permit. Getting legal is not difficult and every business that wants ... Many people make the same mistake when they first start trying to sell online.  They eagerly jump in trying to sell the newest and coolest gadgets.  Their online store is packed full of the latest cell phones and electronics.  They get plenty of Oohs and Aah's from their friends.  But ... Liquidation sales can be a good source of products for your online business.  Whoever owns the product wants to get rid of them.  If fact,  they are willing to accept very little profit or even a financial loss to get rid of them.  This can provide a great opportunity for ... "Light bulk wholesaler" is a term coined by World Wide Brands to refer to wholesale suppliers who are willing to work with small home based businesses.  Small businesses can purchase wholesale goods in small, affordable amounts.  Wholesale suppliers make money by selling large quantities of goods at a very low ... According to Wikipedia drop shipping is "a supply chain management technique in which the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, who then ships the goods directly to the customer. As in all retail businesses, the ... When selecting your inventory, it's important to evaluate each potential item and identify the role it plays in your web store.  Every item in your line-up has a place in your overall product solution - they fit together like pieces of a puzzle.  Here are five categories you should consider ...