Best Tips and Home Remedies

 

 

 

 Best Business Tips and Strategies information channel:
More free ebooks online:
 Advertising | Affiliate revenue sharing  | 
Auctions  |  Blogging  |  Crafts & Hobbies  |  Currency Trading  |  Home Remedies Tips |
 Mesothelioma lung cancer and asbestos | 
Mortgage and refinance |  Pets  |  Web Site design  |

We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics.
Please check back frequently as new topics are added and current topics are updated daily.
 

 



Ad your free banner at www.AdViews.info

Business Profitability - 10 Ways To Boost


10 Ways to Boost your Profitability

So many business owners work hard - really hard - just to break even or keep afloat. Each one of us deserves reward for our efforts, whether that be financial or personal. The question to ask yourself is whether you are directing your effort in the right places, to get the reward you want?

Of the businesses I've seen and worked in, there are plenty of ways to mis-spend effort - that is, to work hard - but on the wrong things. Here are ten of the most common areas where the return on your efforts can really be ramped up.

1. Marketing Inconsistently

Once you have committed to owning and running a business you must be equally committed to marketing and selling the products and services of that business. It is difficult, if not impossible, to stay and remain profitable without a commitment to ongoing concerted marketing.

To get more out of your marketing, create a simple marketing plan that includes marketing activity every day, every week and every month. Marketing plans combine formal activities (such as advertising, promotions and writing) with informal activities (such as making new contacts) . Don't underestimate the power of talking to people about what you do. Use every opportunity, every time.

2. Fear of Asking for the Sale

Isn't it true that we think asking directly for someone's business means coming across as pushy or obnoxious. But if we have this attitude, we are letting profit-producing opportunities pass us by. Worrying more about what someone thinks of you than bringing more money into the business is an all too common mistake. If you find it difficult to "ask for the sale", you can be sure that you're not bringing in as much money as you could be.

The most effective way to address this issue it to practice asking for the sale in language that you are comfortable with (not too wishy-washy please). Write down what you want to say first, then practice it over and over. There is also plenty of stuff out there on handling objections. Prepare your responses to the most common objections so you are well armed before you speak with your prospective customers.

3. Getting help

Most business owners possess strengths in one or two specific areas, but whether by necessity or design, they often end up working in areas they aren't strong in. This builds inefficiencies and potential for mistakes into the business. To compound the problem, we don't ask for help straight away, but struggle on doing the stuff we are not suited to (saves money right?) But each day that goes by with your business running at less than maximum efficiency, means dollars lost from your pocket.

Work out where you add the most and least value in your business. Pay someone to help you out with these low value add activities. Your time is best spent where you add the most value. If you can do more of this kind of activity, your business will benefit.

4. Use your Existing Customer Base

All the research tells us that it is easier and cheaper to keep working with customers you already have, than to get new customers into your business. If you are not following up with past customers on a regular basis you are reducing your profitability potential.

Develop strategies to keep your customers with you, such as loyalty plans, regular communications and special offers. Implement a regular process for following up your customers after they buy from you.

5. Managing Expenses

Savvy business owners regularly appraise their business expenses and find ways to reduce costs without sacrificing quality. If you haven't completed a cost analysis lately, you might be paying more than you need to be, which will reduce your profitability.

At least once per quarter you should review your expenses and negotiate for adjustments as appropriate. Categorize everything you spend under 3 headings: Essential, Nice to Have and Non-Essential. Everything in the last two categories is up for grabs - be ruthless!

6. Spending large amounts on glossy, slick marketing materials and expecting business to pour in without any additional effort.

Glossy brochures and slick marketing materials are a nice addition to more active forms of marketing such as meeting people, calling people and speaking to people. However, brochures and business cards, no matter how beautiful, do not replace direct contact. If you are spending money on flashy marketing materials in the place of marketing directly, your profitability will suffer. The most effective form of marketing comes from you talking about your business to others.

Marketing materials are an expense, and to be sure they are working, you need to get some handle on the return on your investment. At the very least you should be tracking where new business is coming from so you can get an idea of whether your marketing materials are contributing to any new business you get.

7. Spending a significant amount of time in low-return activities

Don't we all know about this one! If you are spending the majority of your day completing tasks which are administrative in nature and/or which can be easily completed by other people then you are not putting yourself to best use. For most of us, the best value-adding activity we can be involved with is in bringing business in the door by building relationships, talking to prospective customers and promoting our business.

What value do you put on your time? Assign yourself a competitive hourly rate for the market and industry you work in - it might be anywhere from $100 per hour or upwards. Then ask yourself whether you would pay anyone that hourly rate to process accounts or do administrative work. If the answer is no, find a way of getting these low-return activities done for a lower hourly rate. Hire a bookkeeper or assistant for a few hours a week, and spend your time doing the valuable work.

8. Not charging enough for what you do.

This challenge seems to arise especially for people who sell services. Either we feel embarrassed to ask for the amount we want, or we simply accept less money than we need - so we get "some money" rather than "no money". But beware, after a while, working for too little can leave you exhausted and resentful, not to mention the impact it has on your profitability.

You do not need to defend an increase in your fees either. It is normal business strategy to review fee structures, make changes and advise customers. And contrary to our fears, it is often the case that business levels improve after fees are increased. It seems that we attract a whole different class of customer when our fees reflect the value we provide.

9. Not making enough use of technology which could save time and effort.

As a business owner, you have a fixed amount of time and energy within which you must maximize your profits. Technology can help you do this in the form of autoresponders, voicemail, wireless internet connections, speech recognition software, SMS from your computer and so on. All of these tools are widely available to us, and are designed to save time and effort. Each of us needs to continually look for ways to make business processes more efficient by using inexpensive technology.

Often the problem is that we don't know what we don't know. Some wonderful tool might be available but we don't know it exists. You need to stay on top of the latest products by regularly checking in with business and telecommunications sites.

10. Sticking with outdated business models or plans.

You've all heard it before - doing things the way they have always been done means that you will get the results that you always got. If you are not satisfied with your results then you need to re-look at what and how you are doing things. An astute entrepreneur has a mindset that is always challenging the way things are done in the business.

Another great way of coming across new ideas is to attend seminars and conferences on various topics. If you get a single idea to put into practice in your business, then that seminar has been worthwhile.

If you are serious about improving your business' profitability (and aren't we all?), then taking action on these areas will help you make more money and have more fun in your business. And that's what it's all about really.

Megan Tough is a published author, coach, facilitator and speaker. Her business, Action Plus, works with professionals to create sustainable and profitable income streams. Make more money and have less stress! To learn more and to sign up for more FREE tips and articles like these, visit http://www.megantough.com


Todays News by officejax free advertising and ad exchange solutionsMORE RESOURCES updated Sat. April / 21 / 2018
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

Effective Home Remedies To Stop Hiccups - Medical Daily

Medical Daily

Effective Home Remedies To Stop Hiccups
Medical Daily
When it comes to hiccup treatments, there is no known cure widely accepted by experts. The lack of clear scientific evidence and medical literature has made it difficult to separate possibly effective techniques from old wives' tales. But here are a ...


Home Remedies In Your Kitchen - Mother Earth News (press release) (blog)

Mother Earth News (press release) (blog)

Home Remedies In Your Kitchen
Mother Earth News (press release) (blog)
I love exploring various home remedies, and am a strong believer in everyone raising a patch of medicinal herbs in the yard, on a balcony, or even in a row of pots on the windowsill. Mint, rosemary, sage and lavender are all easy-to-grow, delicious ...


Suffering from sore throat? Home remedies to get quick relief - International Business Times, India Edition

International Business Times, India Edition

Suffering from sore throat? Home remedies to get quick relief
International Business Times, India Edition
Sore throat is a very common problem but the pain, itchiness, or irritation can be annoying. Moreover, it's worse when you try to swallow foods and liquids. A trip to a doctor for a mere sore throat isn't something that everyone prefers, so if you're ...


Few studies about home remedies exist - Youngstown Vindicator

Few studies about home remedies exist
Youngstown Vindicator
Home remedies usually get short shrift from health professionals. That's because they are rarely studied in a scientific manner. Without a plausible explanation, clinicians may attribute these old wives' tales to the power of suggestion. Every so often ...


Effective home remedies for nose-bleeding - Hivisasa

Hivisasa

Effective home remedies for nose-bleeding
Hivisasa
Nose bleeding is a major cause for concern since it can lead to excessive bleeding. A bleeding nose can be as a result of various reasons like excessive sneezing, dry winter air, injury, allergies, respiratory problems among others. No need to panic ...


5 Home Remedies For Gout - Prevention.com

Prevention.com

5 Home Remedies For Gout
Prevention.com
Urate crystals build up in the joints, bringing on the telltale inflammation and pain. While treatment for gout often requires medication, there are ways to control your gout symptoms without popping pills. Exercise and avoiding foods that spike your ...


11alive.com | VERIFY: Will these 'home remedies' help with your ... - 11Alive.com WXIA

11Alive.com WXIA

11alive.com | VERIFY: Will these 'home remedies' help with your ...
11Alive.com WXIA
ATLANTA — Springtime in Georgia means it's also time for the yearly battle with allergies. It can lead allergy sufferers to seek any means to alleviate the constant sneezing, runny noses and eyes, and even breathing problems. MORE | The pollen count ...

and more »

5 best ways to remove blemishes naturally - Times of India

Times of India

5 best ways to remove blemishes naturally
Times of India
If you love socialising but that ugly blemish on your face is forcing you to hide from the world then here's help. Unpleasant blemishes can appear anywhere on the body in the form of skin discolouration or dark spots, but the ones on the face are most ...


Get rid of stains with these home remedies - Southlands Sun

Southlands Sun

Get rid of stains with these home remedies
Southlands Sun
Why spend a lot of money on cleaning products to get rid of stains when you could just use items you already have in your home? Here are some stain-removing tips for your home. 13 hours ago. Whether you have kids that constantly stain walls and ...


Heat Stroke: 6 Best Home Remedies - Health - Doctor NDTV

Doctor NDTV

Heat Stroke: 6 Best Home Remedies - Health
Doctor NDTV
A heat stroke can be very disabling. But it can be treated with the help of some home remedies. Read here.

and more »

Google News

Akron roofing contractors locator find a recommended roofing contractor in Akron Ohio read consumer reviews                   Click here to place your AD on this page for free

university of akron university housing available

OfficeJax free ad space available here

Akron City Directory
City Directory of products and services

www.AccessFreedom.Does.It
Home improvements
 remodeling for the disabled

www.Akron.Has.It
City of Akron small business directory

www.NoGas.Drives.It
AMAZING Stealth 1000 electric scooters
The most powerful electric transportation on the market for under $1000.00
Test drive it today!

www.access-freedom.info

 

Officejax flea market in akron ohio open 24 hrs for online shopping

[Back to Top]

auction news and listings for Akron, Ohio

Akron crafts and hobby news center

Akron currency trading

Akron Ohio pet news

Advertising and promotions Akron, Ohio

The Akron blogging news center

lung mesothelioma asbestos

Akron Ohio web site design news

Akron Mortgaging and refinancing

Best Home Remedies and do it yourself tips

 

HOME | SITE MAP
© 2012 - 2018 All Rights Reserved