So it's no secret that when you go into niche websites, things are gonna be more expensive than you'll find them on amazon or Ebay, Ebay is probably, yeah, Ebay and amazon are the big ones in Australia, so it's not, yeah, you can go on, but by the time the customer has already thought about it and they're already searching for it, it's too late. Imagine there's two types, you know, if a customer goes, for example, I want this leash and they think they're walking their dog and they go, oh, you know, I wish I could have a bungee on this to make my arm hurt less because my dog pulls so much. Dogs always pulling. So I want, I want this, they go on amazon, they set it up, they've already solved their own problems, you know, they've already they've already walked through it themselves and thought, you know what, this is a product I need and then you have someone who's scrolling through facebook or instagram and then they see something and they, you know, does your, does your arm hurt after walks? George Reid: Hey? Yeah, it does, William Husson: hold on, click on the add and then they touched on all these problems they had and you just solved a problem for them. They didn't even know that they had, maybe they knew that they had it, but I didn't know there was a solution that was so that they didn't know there was a solution um, in that respect. And yeah, you got to charge more as well because it's advertising costs. There's always other things that go with it. Um and that sort of ties back with um F. B. A. I've done a bit of research on it because I was, I have looked at it and I think people are happy with a 15% profit margin song and FBI I could be wrong. I know that someone is going to listen to this and they've got like 20 and they'll say, hey, you know, I've got 20 and you're, you're an idiot. But you know, you don't know like, Well, looking empirically through what people are doing, it looks like the happy with 15%, which is great. Um but if you want more, you've got to charge a higher price. And there's another one that I always hear listen to podcast George Reid: Was this one podcast William Husson: listener isn't it isn't as good as this one obviously, but it says, you know with an amazon FB ages if you make your money when you sell and I think morning tone is, you know, if you're turning over just say a million bucks a year, we're selling a million dollars with units make 100 and 50 K. Isn't that 15% example million dollars. Right? And then you make your money when you sell it on the multiple that it's stressful running a business. It takes up a lot of time. So you know, if you can charge for a higher price and it doesn't impact your conversion rates, I think I think you owe it to yourself to do that and you can monitor how your customers react to it. So yeah,
Thanks,
George
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