Let us create a 3D eBook for you!
Let us create a 3d Digital eBook for you! DigyCat.com

Increase Business Profits - Ten Ways


How do you increase business profits? Answer the following questions carefully, and you'll have a good start.

1. Can you increase the average sale? A restaurant with 25% profit margins might make 50% on additional sales to existing customers (less labor to bag one large order than two smaller ones). Asking "What would you like to drink with that?" works, and it's just a start.

2. What's the least expensive way to get a customer? Before you spend another thousand dollars advertising to get new customers, could you get as much business by spending a few hours contacting previous or existing customers?

3. What low risk ideas can you try? I once sent a letter to several visiting basketball teams, inviting them to visit our restaurant, and giving the coach a free meal as an incentive. The cost? Two dollars. The pay off was two busloads of customers. At that rate, you could increase your business profits even if nine out of ten ideas fail.

4. Have you tested prices? I knew a store that sold a product for a $1.05, that cost them $1.00. At a price of $1.20, it is doubtful that they'd lose half their sales, but if they did, they'd still make twice the profit. Some things even sell better at a higher price. Test.

5. Can you measure your advertising results? How do you know that you're not spending more for a customer than they're worth? Coupons, customer surveys and other methods of measurement are a must.

6. How do you know your customers are satisfied? The worst restaurant meal we ever ate went down without a comment, but we never returned to that restaurant. Maybe the owner should be talking to the customers.

7. Can you enhance the percieved value of your product? Years ago, I sold walking sticks for $10 at flea markets, and $20 at craft shows. Sometimes location alone can enhance the percieved value of a product. What else can you do?

8. What are similar businesses doing? See what your successful competitors are doing. Can you do the same?

9. What other products can you sell? There's a reason stores have candy and magazines near the checkout. Extra sales are a great way to increase business profits.

10. Can you use your customers as salesmen? Word of mouth is a start, but what other ways can you get your customers to bring their friends to you?

These were culled from a longer list. I call it "stolen business ideas," because I can't credit the original authors. I took them where I found them over the years, with grattitude, but without notes.

Steve Gillman has been studying every aspect of money for thirty years. You can find more interesting and useful information on his website; http://www.EverythingAboutMoney.info


MORE RESOURCES:

Top 10 Tips - Google News

This RSS feed URL is deprecated

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

10 tips for a Stag or Hen party on two wheels - Red Bull


Red Bull

10 tips for a Stag or Hen party on two wheels
Red Bull
No need for a traffic-cone trophy on this stag do. © Matt Maynard. We cycled a route that was exciting and unknown. There were some big hills along the way. Camaraderie was created as we made our way through these large landscapes. Energy levels were ...

9 tips to help you get better at PlayerUnkown's Battlegrounds - CNET


CNET

9 tips to help you get better at PlayerUnkown's Battlegrounds
CNET
On the flip side, if you spend all your matches dropping as far away from other players as possible, avoiding conflict and sneaking your way into the top 10, you probably won't last once you're finally met with a gunfight. Sneaking can only get you so ...

Top 10 tips for getting into vinyl - Nouse


Nouse

Top 10 tips for getting into vinyl
Nouse
Be smart. Seek out smaller independent vinyl stores rather than the larger chains. Earworm Records in Goodramgate is worth checking out. Be thoughtful, records need love and care. Don't let dust, heat or scratches accompany your music. For storage, it ...

The top 10 financial tips you need to follow this year that could save you THOUSANDS - Daily Mail


Daily Mail

The top 10 financial tips you need to follow this year that could save you THOUSANDS
Daily Mail
If you are feeling somewhat overwhelmed by mounting bills in the wake of a new year, you're not alone. But money expert David 'Kochie' Koch believes it's entirely possible to get into shape financially, no matter where you're starting from. Writing for ...

10 of the best activity and adventure holidays: readers' travel tips - The Guardian


The Guardian

10 of the best activity and adventure holidays: readers' travel tips
The Guardian
There is an almost infinite list of outdoor activities for any ability in Queenstown, South Island. The hills surrounding Lake Wakatipu (pictured above), which provide incredible ski runs during winter, reveal endless kilometres of mountain bike trails ...

10 tips for landing your dream job in 2018 - CNBC.com - CNBC


CNBC

10 tips for landing your dream job in 2018 - CNBC.com
CNBC
Whether you're a recent college graduate or a seasoned employee, looking for a new job can be stressful. While there are hundreds of online job postings that you can apply to, it's difficult to find the right position that fits your lifestyle and needs ...

and more »

10 Job Search Tips to Help You Find Your Best Opportunity in 2018 - Entrepreneur


Entrepreneur

10 Job Search Tips to Help You Find Your Best Opportunity in 2018
Entrepreneur
If you've found yourself on the hunt for a new job a few weeks into the new year, you're far from alone. According to job search platform Glassdoor, 38 percent of U.S. adults are currently planning or actively looking for a new gig. The two central ...

and more »

Buy a cat, stay up late, don't drink: top 10 writers' tips on writing - The Guardian


The Guardian

Buy a cat, stay up late, don't drink: top 10 writers' tips on writing
The Guardian
Basically: SHOW DON'T TELL. Three words that will be familiar to anyone who has sat in a 21st-century creative writing class. Our book therefore contains a lot of writing advice, ranging from the sternly practical to the gloriously idiosyncratic. We ...

10 top tips for taking amazing travel photographs - The Guardian


The Guardian

10 top tips for taking amazing travel photographs
The Guardian
Getting up early ensures that you have time to get to your chosen location and set up your equipment before the action starts. At Picos de Europa (pictured above) we had the tail end of a storm causing some dramatic clouds and fiery colour. The actual ...

LargeFriends.com - the best dating site for plus-sized singles!
SuccessfulMatchCentral.com - the best dating site for plus-sized singles!

PreLaunchX

YourFree.biz Domain Is For Sale - $5,000 For Enquiries eMail Us

© www.YourFree.biz 2012

home | site map | links