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 updated Thu. February / 09 / 2012 BoldSky | Remedies To Lighten Dark Finger Joints BoldSky To get rid of dark finger joints, here are few natural remedies. Take a look. 1. Scrub everyday while taking bath. This is one simple home remedy to get rid of dark finger joints. You can use a loofah to remove dead skin. Always apply a moisturizer ... |
Daily Chat: Home remedies... San Angelo Standard-Times No wonder so many turn to home remedies for what ails ya! Gargling with salt water for sore throat. One lady used a shaman-type ritual on me once involving an egg and a prayer for a headache. It worked! So what home remedies do you recommend for the ... |
Study finds many home remedies for acidity trump pharma drugs Times of India A series of tests conducted by Consumer Education and Research Society (CERS), Ahmedabad, found that many home remedies are more effective than pharmaceutical medications. As per the results, over-the-counter (OTC) drugs like antacids provide relief ... |
 BoldSky | Simple Cure For Excessive Burping BoldSky Today, we will discuss on burping cure with some natural home remedies. Take a look. Burping is caused when the food passage is filled with air bubbles (that are formed while talking, laughing, sitting in odd positions etc). The bubbles rise in form of ... |
Expert advice: Home remedies for headaches Times of India Dr. Vikram Singh, Consultant, Neurosurgery at Moolchand Medcity, gives us some excellent home remedies for headaches. Read and practise these tips today. Over to Dr. Vikram Singh... Hydrate yourself: Dehydration can be one of the top causes for a ... |
Home remedies for glowing skin Times of India Today, with expert inputs from Dermatologist Dr Meghna Gupta of Delhi Skin Centre, let's get back to our roots and understand a few quick home remedies for glowing skin. - Coconut oil has anti-inflammatory properties. Virgin coconut oil or coconut ... |
India-specific Home Remedies Will Be The USP For Medico.in: Elan Dekel, Medico ... VC Circle He added, “We will also keep the India specific home remedies in mind like Ayurveda to reach out to the larger audience.” Backed by VC firms like First Round Capital, FirstMark Capital, Greylock, Nexus Venture Partners and prominent angel investors, ... |
Fabulous Frizz Free Hair At Home – J F Lazartigue Inventorspot I searched for some at-home remedies for curly or frizzy hair that would provide similar results for a fraction of the cost. French hair experts from JF Lazartigue has come to the rescue with a line of straightening products consisting of shampoo, ... |
Home Remedies: The Quick Fix COS The Campus The role health plays in scholastics demonstrates the value of knowing reliable treatments. Many home treatment methods exist descending from a variety of cultural traditions, however most minor symptoms are easier to avoid by adhering to proper habits ... |
 Care2.com | 6 Wonderful Ayurvedic Home Remedies Care2.com Give these simple Ayurvedic remedies a chance to work their magic. Chew on a clove slowly, letting the juice penetrate the affected area. Clove has been used since ancient times as a star treatment for dental problems. It contains a healing compound ... |
 |
|
|
RELATED ARTICLES:
Seven Ways to Improve Your Results with Follow-up What follows is a bold statement, but sometimes it takes a bold statement to get people's attention. One of the most important and yet overlooked skills in business today is follow-up. The Seven Secrets of Top Performers Let's put to rest the fallacy that success, in sales or any profession, is due to luck, chance, and/or hard work. There is nothing further from the truth. Why Don't They Just Get It Done: 7 Performance Tactics for CEOs Buckling under the weight of chronic corporate restructuring, and frustrated by performers who don't respond to carefully crafted strategic plans, high level executive leaders are being confronted by a growing performance gap between what needs to get done and what gets done. Sound familiar? It's a troublesome trend that is likely happening in your firm right now. How To Move Your Business Online in 7 Steps So you have set up your company, fairly established and generating some sort of revenue. Why should you take the most important step of starting online? The online audience is massive - it's an information resource used by millions worldwide and continues to grow. Business Meeting Etiquette Business etiquette is essentially about building relationships with colleagues, clients or customers. In the business world, it is these people that can influence your success or failure. The Top Ten Ways to Stop Procrastinating Now 10. Procrastination Condemnation - Lose the Labels! All those things you call yourself, such as lazy, scattered, disorganized, not good enough, incompetent, or stupid, for example, aren't helping you get things done, are they? You've learned to believe them, and you think they've become something of a self-fulfilling prophecy. 11 Things Small Business Owners Can Learn From Star Wars 1. Great Things Take Time - Three years passed between the release of each movie in the two trilogies, and a lot of work went in to them. Ten Tips For Starting A New Job 1. Get to know people. Top 7 Reasons You Should Back Up Your Data Online! How much is your data worth to you? In this modern electronic-age we rely more than ever on our computers to supply us with the information we need. Chances are every piece of data you might ever rely on to make an important decision has been reduced to a digital format and resides somewhere on your computer's hard drive. After Hurricane Katrina - Seven Things You Can Do If you are like me, you are living some distance from the devastation wrought by Katrina. If you are like me you not physically impacted and can watch the plight of others on television in the comfort of your home. Top Ten Reasons to Write a Sales Letter for Each Product? - Part 2 Authors/publishers are great at getting their books written. Entrepreneurs know their products. 7 Secrets to Writing Inventory Procedures What would You do with $1,000,000With $1 Million would you:? Pay off debt?? Purchase new equipment?? Invest/save for the future?? Give yourself a bonus?$1,000,000 Waiting in the Wings. What do you and your business need that you have been putting off because you don't have the money today? $1,000,000 certainly would fill those needs. But where do you find $1,000,000 just lying around your business right now? Well, you probably have $250,000 in each of four areas in your everyday business, and you don't even realize it. 10 Incredibly important business basics EVERYONE needs to know BEFORE they start a business! In my career, I have had a total of 3 businesses myself and a few others where I am in partnerships. Each time you start a business the basics are pretty well the same. Positioning Your Company for Debt Financing Positioning Your Company for Debt Financing: There was a time in the old days when going to the bank was the only way to get outside capital for your business. These days with the explosion of raising equity investment, many of the guidelines for running a company have been revolutionized. 7 Tips To Increase The Success Of Your Online Business 1. Outsource what takes you too long to do? When you don't have time to do something, you either don't do it, or do it faster and make mistakes. 10 Nifty Tips for Better Business Cards Not having a business card is as bad as using an eMail address that ends in AOL.com It's just not professional. The Ten Best Kept Secrets For Protecting Your Business Property Against Theft 1. Locks and Padlocks - Locks on all outside entrances and inside security doors should be double cylinder deadbolts with removable collars. 7 Reasons You ARE Your Own Best Product, or Lessons From the 2004 Presidential Election The 2004 election is over--at least in the minds of the public--and analysis runs rampant as to why Senator John Kerry lost. From a business viewpoint, one could say that he simply didn't sell the product. How To Finally Unlock Your True Potential And Discover The Secret To Lasting Success Did you know that there is one critical difference between average businesses and super-successful businesses? Many of the success experts who are quoted time and time again refer to this one common characteristic as the big differentiator between being mediocre and actually unlocking your true potential. Take a look at the following popular quotes and see if you can identify the common thread that ties them all together. 7 Keys to Running a Successful Business Although dentistry may appear to be different than other types of businesses, in reality it is a business. And although this article is written from a dentist's perspective on developing a successful practice, the principles can be used in virtually any business.
|
Akron City Directory
www.AccessFreedom.Does.It
www.Akron.Has.It
www.NoGas.Drives.It
|
 |
auction news and listings for Akron, Ohio Akron crafts and hobby news center Advertising and promotions Akron, Ohio The Akron blogging news center Akron Ohio web site design news Akron Mortgaging and refinancing Best Home Remedies and do it yourself tips
|
|
|
HOME |
SITE MAP
© 2009 All Rights Reserved
|
|
