7 Steps to Attract More Income

Want to attract more income? Here are 7 common sense ways to earn more money by attracting it. It applies in any business here, I’ll use a retail store as an example because it is most visible as an example to follow and help you make money.

1) Spring cleaning your store. Financial dirt (unecessary loans and financing???) and real accumulated dust from the last 3 years? Clean them out! I’ll bet people do see them – and worse, it smells bad.

2) Cut out marginal suppliers. Products that cannot give you a better than tiny profits or not at all, gets cut out of your valuable store space.

3) Get expert help! Which product and product shemes will more likely work for your store?

4) Keep a just in time system. What needs to be sold first and what can you do to move your inventory. Inventory equals cash sitting around and losing value.

5) Hold special sales events to stir up more interest in your store and for those existing customers, give them specials to keep them coming back!

6) Keep talking to and engaging your customers to let them know you and keep coming back with gifts and new special promotions like free coffee and cookies?.

7) Declutter and reinvent your store to present a fresh face – this will get your customers back in like a breath of fresh air with the smell of fresh money.

It will be good to find many old high priced but out of reach products like expensive perfumes become really affordable to more customers. Will you be the first to do it?

Do you know of any retailers you can give this piece of advice to?

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Fastest Way For Your Business To Earn More Money.

To earn more money, conventional wisdom tells you to just sell more product right? This is not always true and I will explain later.

Your Business Can Make More Money Fast.

Instead, the fastest way for a business to make more money is to literally increase your prices! I can hear the howls of protests now…

a) My customers are price sensitive and I will lose them.

b) This is the recession and the competition is cutting back prices.

So, how can you raise your business income virtually overnight? It’s so simple business owners lose their voices when they find out.

a) Working on a business everyday, you can increase your prices by offering far more services as an upsell – more value = more benefit.

b) Introducing higher prices to new clients.

c) Use small immediate price increases with added service – e.g. 10%.

Try it. There is no excuse to miss out on a great opportunity otherwise.

Why not put up a program to sell more product, to make more money?

a) It takes time and more cash investment.

b) Time lag between putting your sales program in place and seeing more money.

c) Most promotions are unsuccessful.

In short, the cost of new customer acquisitions is far more costly than selling to your existing customers.

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Posted in Competition and Business Strategy, Entrepreneurship For Financial Freedom., Fastest Way For A Business To Make More Money | No Comments »