HOW TO MAKE YOUR BUSINESS PROFITABLE

Published by Mzwandile Lata on

1.PUT PRICES UP BY 3% OR MORE

This creates more profit (per sale). Now if you sell exactly the same number of products as before, both your turnover and your profits have increased. 

2.DECREASE DIRECT COST BY 3% OR MORE

Go to all your suppliers and ask them for a better price… ask “Is that the best you can do?” and say nothing till they come up with a better price. Now you are making even more profit per sale

3.SACK UNDERPERFORMING SUPPLIERS,CUSTOMERS AND STAFF AS APPROPRIATE

This gets rid of the suppliers, customers and employees who make the working day more stressful. This will create a better working environment for your team and remove any customers who are losing you money. 

4.GET BETTER AT TALKING TO PEOPLE,ASKING FOR THE BUSINESS AND CLOSING THE SALE

Going on a decent sales course (and sending your team on one as well) will add 10% to each of the fundamental steps in the sales funnel. Improving by 10% in each of these areas will create 46% more customers.

5.DECIDE ON THREE THINGS YOU CAN DO RIGHT NOW,AND WHICH COST NOTHING,THAT YOU COULD DO TO GET EXISTING CUSTOMERS TALKING ABOUT YOU

Don’t procrastinate please. The faster you make the tough decisions and get on with it – the sooner you will see the positive results. Take massive action.

In reality, there may actually be a deeper, more subtle set of changes required of you.It is one thing to recognise what needs to be done and it is great if you make the commitment to implementing the changes.The problem is that as well as making the business decisions you also need to act upon them. 


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