67. How much profit should I aim to make?
This is entirely a matter for your judgment, which may be conditioned by the requirements of shareholders, partners or investors.
However, you certainly have to make enough money to keep reinvesting in your business, and in continually testing new approaches, product ideas, etc.
You are very wise to think first whether you have sufficient margin. For products costing under £20 you need a great deal; the cost should preferably be no more than 1/4 of the selling price, preferably less.
For more expensive products or services, the margins can be less - but do not imagine direct marketing is possible on very narrow margins. It rarely is.
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