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Increase Small Business Revenue

denkywarkel
(@denkywarkel)
Trusted Member Registered

If you have a business and you want to increase your business without spending more money on advertising, then read on. Many people concentrate all their efforts on acquiring new customers, when in fact they should look at promoting products to existing customers.

It takes 5 X the cost of getting a new customer than promoting to an existing one, so why spend all that money only to sell them something once? When somebody has just gone through the process of buying something, they shift from browse mode to buying mode.

At this stage, they are much more susceptible to buying other related products as an up sell, cross sell or down sell. For example, if they just bought a necklace, then showing them a pair of earrings to match could be an easy sale.

If somebody has just bought a sandwich, then offer them a drink? If they had just bought games console, then offer an extra games controller, and so on. So take a look at what you sell, and look at all the other products or services, and see where you could offer these are part of the sales process.

There are also times where you can offer a group of products to bought at once as a package. Somebody may not buy a necklace, earrings and bracelet individually, but if you offered them all at once at a reduced special price, a good percentage will go for it.

Up sell: This is when somebody has bought a relatively inexpensive product, and then while they have made the transition to buying mode, you then attempt to sell them a more expensive product.

Cross Sell: This is when you try to sell them a matching product of a similar price range.

Down sell: This often happens when you have sold them a higher priced product, and then you offer a much cheaper product which compliments it. A good example is when you buy a pair of shoes, and then shoe polish is offered.

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Topic starter Posted : 31/03/2010 5:57 am
saria19
(@saria19)
Active Member Registered

Re: Increase Small Business Revenue

Hello Friends

1)Start on a shoestring:Think small. Don't rent premises if you can work somewhere else, and don't hire employees until you can keep them busy.People who start their small business on the cheap, often in a garage, den, or some other scavenged space, and create their first goods or services with more sweat than cash, have the luxury of making their inevitable rookie mistakes on a small scale. And precisely because their early screw-ups don't bury them in debt, they are usually able to learn and recover from them.
2)Protect your personal assets:When you go into business for yourself, you are usually personally liable for all judgments and debts that the business incurs. This includes business loans, taxes, money owed to suppliers and landlords, and any judgments against the business as a result of a lawsuit. If you don't protect yourself, a creditor can go after your personal assets, such as your car and your house, to pay for these debts.
3)Understand how -- and if -- you will make a profit:You should be able to state in just a few sentences how your business plans to make a substantial profit. For starters, you need to know your costs: how much you'll spend purchasing inventory, paying the rent, compensating any employees, and covering what is likely to be a surprisingly long list of other costs. Then you can figure out exactly how much you need to sell each month, for how many dollars, to cover those expenses and have an adequate profit besides. These numbers are all you need to create a "break-even analysis."

Thanks for reading

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Posted : 06/04/2010 6:40 am
sophie17
(@sophie17)
Eminent Member Registered

Re: Increase Small Business Revenue

Small Business MarketingIt does not matter what type of small business you run, you need to have an optimized website. You can be a doctor, general contractor, a bar of restaurant owner, or a professional clown.You are at a disadvantage if you do not have a site up. And not just an informational brochure.Ideally, you could have a site that generates revenue for you while your brick and mortar location is closed for the evening. When your small business closes at 5 pm, you could have sales happening on your website 24 hours a day. You need to know how to market your small business on the internet. If you do not take the time to learn how to promote your small business online, your competitors will and they will be the ones showing up on the first page in Google when they are looking for your product or service.People use search engines to find what they want more than the yellow pages or the newspaper.If you are not found online, you will not be found and your small business will lose ground to your competitors who are found.There is a better way.

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Posted : 07/04/2010 11:54 am
GeorgeWalker
(@GeorgeWalker)
New Member Registered

Re: Increase Small Business Revenue

The gut reaction by most businesses is to begin by cutting back on your marketing spend. This is often ill-advised and should be examined more closely. Your goal is to increase sales, not level off or fall. If the market is slow, it’s a perfect time to consistently pump your brand and message while your competitors are cutting back – less marketing clutter to contend with means better chance of building up your top-of-mind awareness.

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Posted : 07/04/2010 12:38 pm
chris27
(@chris27)
Trusted Member Registered

Re: Increase Small Business Revenue

Hi
The article you have shared is so nice and informational.Thank you for the post. Always do keep sharing your informational views like this.
Thanks
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Posted : 09/04/2010 3:52 am
denkywarkel
(@denkywarkel)
Trusted Member Registered

Re: Increase Small Business Revenue

Thanks For the inspiration.

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Topic starter Posted : 09/04/2010 11:24 am
maclane
(@maclane)
Trusted Member Registered

Re: Increase Small Business Revenue

Hello
Thank you for sharing these nice and wonderful tips. keep sharing your views like this.
keep sharing
maclane

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Posted : 16/04/2010 3:57 am
crystal
(@crystal)
Eminent Member Registered

Re: Increase Small Business Revenue

1)Sell maintenance contracts. Not only will you earn more money, but your customers will always call you first. There’s no better place to be.
2)Increase your advertising. Remember advertising is only expensive is you’re not generating a return. If it costs $550 for a ¼-page advertisement in your industry monthly trade journal, and you only need one paying client to breakeven, the moment you receive a second paying client you’re making more money.
3)Bring your products and services to your customers. Mary Kay, Avon and the like have been doing it for years, but for some reason, the rest of the world seems resistant. There’s absolutely no reason why almost any service business, such as masseuses, hairdressers, yoga instructors, personal trainers, etc. can’t go to clients’ homes. What’s more, you can immediately increase your income by charging a visit fee, in addition to your service fee.

Thanks

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Posted : 16/04/2010 9:12 am
sliver47
(@sliver47)
Active Member Registered

Re: Increase Small Business Revenue

Hi

1) Find what your business is about and the purpose of your website. Focus on your purpose and make goals for yourself, your company and your website.
2) You should evaluate your website content since your content is king. The content should reflect what you are trying to do.

3) Analysis and tracking is the next step. By knowing your business statistics and how it works helps in knowing the number of visitors your website receives. Information about how your website operates also is done by tracking.

4) You should take advantage of free local business directories which are found all over the internet. It is important to get your business listed which will enable to increase the number of visitors to your website and thus increases your revenue.

Thanks

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Posted : 17/04/2010 11:37 am
Ted
 Ted
(@Ted)
Eminent Member Registered

Re: Increase Small Business Revenue

Hello
Thanks to all of you for sharing this information with us.
It is really an informative post.It seems beneficial.
Keep sharing like this.

Thanks.

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Posted : 19/04/2010 4:06 am
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