Ability Quote by Brian Tracy
“The essence of a successful business is really quite simple. It is your ability to offer a product or service that people will pay for at a price sufficiently above your costs, ideally three or four or five times your cost, thereby giving you a profit that enables you to buy and to offer more products and services.”
About This Quote
Source Book: The Psychology of Achievement, Brian Tracy, 2004
Success hinges on selling a product priced well above its cost, generating profit to expand offerings.
In simple terms: Profit comes from pricing above cost.
Key Takeaway
Price above cost to profit.
Themes
business
profit
pricing
strategy
Mood
determined
pragmatic
Type
business
motivational
When to use this quote
- launching a product
- setting prices
- expanding a line
- investing profits
Key Concepts
economics
value creation
scaling
Questions to Reflect On
- How can you add value to justify higher prices?
- What costs must be controlled to maintain margins?
A Different Perspective
Market competition may limit pricing flexibility.
