Why Do Product Managers Fail to Increase Profit?

By |2022-09-09T14:02:31-04:00September 9th, 2022|Frameworks, Process, Product, Profit|

Are you a product manager and wondering "How can I increase profit?" Well first. It's important to ask, "What is profit?" It's the net income that results from revenue minus expenses such as salaries, product costs, and sales and marketing. It fuels sustainable business. So, why do product managers fail to maximize or increase profit?  One of the root causes is that product managers often fail to recognize and leverage the unique characteristics of software. To help you increase profit, I’m going to share 10 ways software differs from other kinds of offerings, notably physical goods. Understanding these differences is fundamental to creating pricing and licensing strategies that maximize profit.