Powerful Profit Boosters for Your Business
Are you looking at your business with a critical eye? What could you do to boost your profit margin? Here are some tips to consider:
>> Increase Sales
- Increase the number of new customers
- Increase the average transaction size
- Increase the frequency of purchases
>> Decrease Expenses
- Increase your margins
- Cut fixed expenses
>> Remember People Do Business with People They Know
- Talk to your customers
- Participate in community activities
>> Make Yourself Look Like a Million Bucks
- Image is everything
- Seek assistance if you need help with design aspects
>> Operate Your Business for Your Customer’s Convenience
- Are your store hours convenient for your target market?
- Do your customers feel valued?
Cultivate a “team” of trusted advisors for your business. Ask them for honest opinions about your business – what things could you improve? What do your customers need and want? The best way to find out is to ask them. And be willing to listen to their responses.