How to increase profits by 5 times or more
There are a million tips on how to increase profits. However, despite this, up to 95% of businesses operate with minimal profit or even at a loss. The bottom line is that not all methods are effective for specific businesses. The question is to choose exactly those methods that suit a particular business. If they are chosen incorrectly, profits will not be seen.
There is no magic wand that can be waved to boost profits. Increasing profits is a serious job, for which you need to have special knowledge and technologies. If there is no time and desire to master them, then it is advisable to outsource the increase in profits to specialists, which, by the way, is inexpensive.
Business studies have shown that there is a problem that prevents a good profit, which is typical for 90% of businesses. If it is eliminated, then 90% of businesses can easily increase profits, and quickly enough. You will find universal advice on how to increase profits below. Hundreds of companies from many countries of the world have already used it.
The first reason for low profits
I am creating websites. It seems that there are customers, but income is literally a little higher than expenses, so debts are constantly increasing. It seems that a little more, a little more, and I will make a good profit, but more than two years have passed and this has not happened. I understand that you need to either increase profits or close the business. I don't want to close. How to increase profit? What do you advise?
Valera
With a similar question, they turn to me quite often, so quite representative statistics have accumulated. Based on my experience, I can say that in 90% of cases the reason for a situation like yours is the selfishness of businessmen. Very often, businessmen use business for self-affirmation, although normally business serves to solve customer problems.
The bottom line is that the client turns to businessmen so that they solve his problem and pay them money for it. Businessmen naturally sign up to solve it and take money for it. They begin to solve the problem, but in 90% of cases they do everything as they need, and not as the client needs. In fact, businessmen are not so much solving the problem as they are engaged in self-affirmation.
Sometimes, in 10% of cases, what businessmen offer suits customers, and they are satisfied
Sometimes, in 10% of cases, what businessmen offer suits customers, and they are satisfied. However, in 90% of cases, the client remains dissatisfied and launches negative word of mouth. Accordingly, the answer to the question of how to increase profits lies in getting rid of selfishness and starting to listen to customers, starting to focus on their real needs.
The second reason for low profits
The second reason for insufficient profits is that businessmen very often do not know the real needs of customers, so they offer the wrong product that they really need. For example, website developers often believe that customers need websites. In reality, customers need the customers they get through the site, not the sites themselves.
To meet needs, you first need to understand what customers need.
Thinking that customers need websites, the businessman makes an advertisement in which he announces that he makes websites. However, no one needs the sites, so none of the potential customers respond to the offer. Seeing the lack of interest in his proposal, the businessman believes that he simply advertises little and invests even more money in advertising, all to no avail.
It must be understood that the customer is not ready to pay for what a businessman can offer and never pays for it. He is ready to pay only for the satisfaction of his needs, for the realization of his ideas. To satisfy needs, you first need to understand what customers need. The businessman considers it below his dignity to understand this, therefore he never does it.
How to increase profit
As you probably understood, the answer to the question of how to increase profits is simple. You just need to get rid of selfishness and develop a marketing mindset in order to understand customers well. One of the ways to independently develop marketing thinking is the marketing legram. You can also turn to specialists in order to undergo immersion training in higher marketing.
To maximize profits, it is recommended to work with other legrams
To maximize profits, it is recommended to work with other legrams. In particular, for maximum understanding of customers, it is worth working with the leggram of the market in which you work. In order to create a best-selling product, it is useful to work with the product leggram. Building an effective and powerful business will be facilitated by working with a business leggram.
The suggested recommendations on how to increase profits really work. Moreover, the more they are carried out, the more you can earn in the end. If additional tips and recommendations are needed during their implementation, you can always get marketing advice in order to get additional useful information.