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How to better your business?  

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juli
 juli
(@juli)
Active Member Registered

The goal is the same but how we achieve each milestone may vary. Take a look at the following ways to better your business.
1. Reduce Shrinkage
You may believe employee theft and shoplifting aren't a problem in your business, but simple pricing mistakes can also cost retailers quite a bit. The average shrink percentage in the retail industry is about two percent of sales. Learn to identify and reduce sources of shrink.
2. Increase Sales Opportunities
Whether you're up-selling to a customer or planning an expansion into a multi-channel environment, retailers should learn to notice and take advantage of every possible opportunity to sell.

3. Improve Customer Service
One easy way to better your business is to improve customer service. Retailers should develop customer-friendly policies, train employees to provide outstanding customer service, and learn how to create customer loyalty.

4. Add New Products or Product Lines
One way to keep customers returning to your shop is by offering new and exciting products. When adding new products or expanding product lines, keep in mind that not only should there be a demand for the item, but it must also be profitable and something you enjoy selling.

5. Buy From Vendors with Best Value
The vendor who sales an item at the lowest price isn't necessarily the vendor you want to buy from. When selecting a supplier, consider shipping, terms of sale and other factors to determine the vendor with the best value. These small details may erode a retailers bottom line.

6. Increase Marketing
How often have you said you can't afford to advertise right now? Maybe once business picks up you'll place an ad. Or maybe you're holding those advertising dollars until the holiday shopping begins. Either way, you could be losing potential customers right now. Begin tailoring your marketing efforts to your target audience. If you don't spread the word, no one will know you exist.

7. Lower Expenses
To better your business and return more profits to your bottom line, learn where you can cut operating expenses. Look around your shop. Could buying instead of leasing save money? Are you outsourcing something you could easily do?

8. Get Out of the Store
Attend a trade show or other retail expo. These conferences are developed in order to give retail owners, buyers and managers the opportunity to meet existing suppliers, conduct business meetings, network with others in retail and investigate new products.

9. Add One New Time or Money Saving Piece of Technology
Every time we invest in a new piece of technology, we're always amazed at the results and wonder how we lived without it for so long. Find one new money or time saving piece of technology to implement in your store this year. For example, if you are using manual cash registers, consider a POS system.

10. Provide Training for Staff
Once you've determined how to best implement the nine ways to better your business listed above, pass that information on to your staff. Your retail employees are the ones on the front-line every day and should be trained to reduce shrink, improve customer service and increase sales opportunities.

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Posted : 23/06/2010 7:43 am
baby00
(@baby00)
Active Member Registered

Re: How to better your business?

Hi

Successfully applying Lean Business systems can help you:

* identify what processes add value and eliminate waste
* improve production flow and reduce lead times
* reduce inventories, freeing up capital and saving space
* engage staff more effectively and develop their skills
* create a culture of continuous improvement
* improve staff morale.

Thanks

Business Electricity

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Posted : 23/06/2010 9:20 am
wini
 wini
(@wini)
Eminent Member Registered

Re: How to better your business?

we can better our business using Speculation.Speculation is healthy, right? Not so fast. Every dollar dumped into speculation also has an opportunity cost: though it might offset risk, or reveal better info, it's not employed directly in productive economic activity. For example, when I buy a share from you, that capital doesn't flow to the firm to fund new projects, but to you. The corporation in question benefits only (very) indirectly -- and so bad management is punished, but good management isn't fully rewarded.

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Posted : 28/06/2010 3:53 am
3csprojectgurgaon
(@3csprojectgurgaon)
Eminent Member Guest

Re: How to better your business?

In order to improve a business following must be done:
-Set aside goals.
-Keep target audience.
-Motivate employees.
-Improve selling skills.
-Stay up to date with technology.
-Participate in continuing education.Organize workshops and classes.

New 3cs Project in Gurgaon Sector 89

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Posted : 17/02/2012 7:22 am
Joyranny
(@Joyranny)
Active Member Registered

Re: How to better your business?

Appointment setting services is one of the best ways to improve the performance of the business. It is an effective marketing strategy which refers to hiring experienced and knowledgeable people which helps to deliver better quality products and services.

appointment setting

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Posted : 09/03/2012 6:44 am
telxcomputers
(@telxcomputers)
Eminent Member Registered

Re: How to better your business?

I will like suggest only customer satisfaction, product quality these are the major factor to get successful business.

RCC Chimney Construction Company in India |Slipform Construction Company In India

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Posted : 12/03/2012 11:33 am
elitebag
(@elitebag)
Active Member Registered

Re: How to better your business?

I think to improve your business ,the best way is to make your quality of products better and better to attract more customers .If your service and quality of products are good enough ,some old customers may introduce other customers to you .

Elite Art & Craft Factory
www.fashionelitebag.com
MSN:sallya121@hotmail.com
SKYPE:huangmeiqing111

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Posted : 14/03/2012 8:53 am
Henry_Jakson
(@Henry_Jakson)
Trusted Member Registered

Re: How to better your business?

Very helpful information.

Marketing Plan | Marketing Plans | Business Plans | Marketing Services | Business Consultant

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Posted : 16/03/2012 7:58 am
vicky.donor
(@vicky.donor)
Active Member Registered

Re: How to better your business?

All profitable is better for you, I think you better understand.

Denver Plumber

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Posted : 16/03/2012 9:53 pm
Colpini.rc
(@Colpini.rc)
Eminent Member Registered

Re: How to better your business?

There are some ways to better your business

Great Content and Articles.
Identify Market Trends.
Competitive Analysis.
Ways to Improve Customer Support
Appraise And Analyse Your Product Or Service.

Sponsored Reviews | Buy Reverbnation Plays | Free Twitter Followers

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Posted : 16/03/2012 10:09 pm
jessica_david
(@jessica_david)
New Member Registered

Re: How to better your business?

all my friends here shared some great ideas that makes god sence..i would also like to suggest some thing as i knew..basic things that can take some to top is customer satifaction(this could be done through service service), quality and last but not least i.e time and resource management..

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Posted : 19/03/2012 6:04 am
jessicadavine
(@jessicadavine)
Active Member Registered

Re: How to better your business?

For the better business you have to decrease shrinkage and have to improve sales opportunity then you have to add new product & new services and increase customer service. You have to do online marketing and motivate your office staff.

Elicotteri radiocomandati

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Posted : 22/03/2012 5:24 am
justafive
(@justafive)
New Member Registered

Re: How to better your business?

Once again, this makes it difficult for the local search engines to determine what locations your business is relevant for. If you’re a business that operates out of your home. Justafive.com

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Posted : 23/03/2012 6:52 pm
looxy
(@looxy)
Active Member Registered

Re: How to better your business?

juli;49497 wrote: The goal is the same but how we achieve each milestone may vary. Take a look at the following ways to better your business.
1. Reduce Shrinkage
You may believe employee theft and shoplifting aren't a problem in your business, but simple pricing mistakes can also cost retailers quite a bit. The average shrink percentage in the retail industry is about two percent of sales. Learn to identify and reduce sources of shrink.
2. Increase Sales Opportunities
Whether you're up-selling to a customer or planning an expansion into a multi-channel environment, retailers should learn to notice and take advantage of every possible opportunity to sell.

3. Improve Customer Service
One easy way to better your business is to improve customer service. Retailers should develop customer-friendly policies, train employees to provide outstanding customer service, and learn how to create customer loyalty.

4. Add New Products or Product Lines
One way to keep customers returning to your shop is by offering new and exciting products. When adding new products or expanding product lines, keep in mind that not only should there be a demand for the item, but it must also be profitable and something you enjoy selling.

5. Buy From Vendors with Best Value
The vendor who sales an item at the lowest price isn't necessarily the vendor you want to buy from. When selecting a supplier, consider shipping, terms of sale and other factors to determine the vendor with the best value. These small details may erode a retailers bottom line.

6. Increase Marketing
How often have you said you can't afford to advertise right now? Maybe once business picks up you'll place an ad. Or maybe you're holding those advertising dollars until the holiday shopping begins. Either way, you could be losing potential customers right now. Begin tailoring your marketing efforts to your target audience. If you don't spread the word, no one will know you exist.

7. Lower Expenses
To better your business and return more profits to your bottom line, learn where you can cut operating expenses. Look around your shop. Could buying instead of leasing save money? Are you outsourcing something you could easily do?

8. Get Out of the Store
Attend a trade show or other retail expo. These conferences are developed in order to give retail owners, buyers and managers the opportunity to meet existing suppliers, conduct business meetings, network with others in retail and investigate new products.

9. Add One New Time or Money Saving Piece of Technology
Every time we invest in a new piece of technology, we're always amazed at the results and wonder how we lived without it for so long. Find one new money or time saving piece of technology to implement in your store this year. For example, if you are using manual cash registers, consider a POS system.

10. Provide Training for Staff
Once you've determined how to best implement the nine ways to better your business listed above, pass that information on to your staff. Your retail employees are the ones on the front-line every day and should be trained to reduce shrink, improve customer service and increase sales opportunities.

Thats really good tip. The main point that I saw is the use of technology and proper training for staffs.

Nitrous Oxide

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Posted : 24/03/2012 11:36 am
beldonboras
(@beldonboras)
Active Member Registered

Re: How to better your business?

Superb tips I really like them all
And wanna share with my friends on facebook

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Posted : 28/03/2012 10:36 am
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