When one plans to start his small business, he encounters one basic question – whose product should I sell? There are two choices with the business owner – own products or some else’s products. And the third choice – combination of the two above.
There are pros and cons of both the options. While profits are at a higher level with own products, these are difficult to manage for an entrepreneur without experience. Selling others’ products may yield lower margins; they are readily available for selling and experience of the principal comes handy.
If you have hit the greatest product idea, even then it is advisable to start with others’ products, and keep your product along with the bouquet.
This offers a win-win situation. Other running products can create revenues and generate profits, your products get introduced to market without any extra significant costs.