Channel: NYC CNC

Category: Science & Technology

Tags: cam toolpathshow tolearn cncfixturingtormachcadmanufacturing entrepreneurshipworkholding techniquescnc millingjohn saunderssaunders machine workscnc machiningmachine shopdiymachiningmodular workholdingfusion 360provencutcncnyc cncfixture platesmilling

Description: Product price is more than material costs, labor costs, and profit margin. What if the cost to manufacture is above what customers are willing to pay? We'll cover 5 plus 3 bonus tips to help manufacturing entrepreneurs determine product viability and price them appropriately! 00:00 Intro: A Mistake That Almost Cost Everything 01:04 Retail Value VS. Cost of Goods 02:15 Product Viability: Can You Make Profit? 03:20 Oprah Effect VS. Low Sales 04:04 Profit Margin for Distributors & Resellers 05:18 Product Availability & Proper Pricing 05:53 Bonus Tip #1: Promotions and Discounts 06:12 Bonus Tip #2: $70 Steak & Customer Emotions 06:28 Bonus Tip #3: Listen to Customers, NOT Family 07:00 Learning From Competitors & Final Thoughts 5 Reasons to Use a Fixture Plate on Your CNC Machine: bit.ly/3sNA4uH ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Links for this video When to Quit Your Day Job youtu.be/2gutFy0_5jg Oprah Effect Article entrepreneur.com/article/200954 Psychology of Discounts Article namogoo.com/blog/consumer-behavior-psychology/psychology-of-discounts Xometry xometry.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Reach us / CNC Info: Speeds & Feeds: provencut.com Download Fusion 360: dpbolvw.net/click-9255839-12529306 Online Fusion 360 Training: bit.ly/LearnFusion360 SMW Products: saundersmachineworks.com CNC Resources: nyccnc.com