Increase Business Profits - Ten Ways

How do you increase business profits? Answer the following questions carefully, and you'll have a good start.

1. Can you increase the average sale? A restaurant with 25% profit margins might make 50% on additional sales to existing customers (less labor to bag one large order than two smaller ones). Asking "What would you like to drink with that?" works, and it's just a start.

2. What's the least expensive way to get a customer? Before you spend another thousand dollars advertising to get new customers, could you get as much business by spending a few hours contacting previous or existing customers?

3. What low risk ideas can you try? I once sent a letter to several visiting basketball teams, inviting them to visit our restaurant, and giving the coach a free meal as an incentive. The cost? Two dollars. The pay off was two busloads of customers. At that rate, you could increase your business profits even if nine out of ten ideas fail.

4. Have you tested prices? I knew a store that sold a product for a $1.05, that cost them $1.00. At a price of $1.20, it is doubtful that they'd lose half their sales, but if they did, they'd still make twice the profit. Some things even sell better at a higher price. Test.

5. Can you measure your advertising results? How do you know that you're not spending more for a customer than they're worth? Coupons, customer surveys and other methods of measurement are a must.

6. How do you know your customers are satisfied? The worst restaurant meal we ever ate went down without a comment, but we never returned to that restaurant. Maybe the owner should be talking to the customers.

7. Can you enhance the percieved value of your product? Years ago, I sold walking sticks for $10 at flea markets, and $20 at craft shows. Sometimes location alone can enhance the percieved value of a product. What else can you do?

8. What are similar businesses doing? See what your successful competitors are doing. Can you do the same?

9. What other products can you sell? There's a reason stores have candy and magazines near the checkout. Extra sales are a great way to increase business profits.

10. Can you use your customers as salesmen? Word of mouth is a start, but what other ways can you get your customers to bring their friends to you?

These were culled from a longer list. I call it "stolen business ideas," because I can't credit the original authors. I took them where I found them over the years, with grattitude, but without notes.

Steve Gillman has been studying every aspect of money for thirty years. You can find more interesting and useful information on his website; http://www.everythingaboutmoney.info

recurring maid service Wilmette ..
In The News:

New phishing platform QRR targets Microsoft 365 users across 1,000 domains in 90 countries. Learn how to spot fake login pages and protect your accounts.
OpenTable now uses AI to track your dining habits and share insights with restaurants. Learn what data they collect and how to protect your privacy.
Google's discontinued Nest thermostats still secretly upload home data to company servers despite losing smart features, raising serious privacy concerns.
New Android malware NGate steals NFC payment codes in real-time, allowing criminals to withdraw cash from ATMs without your card. Learn protection tips.
DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.
Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.
Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.
Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.
A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.
South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.
Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
Fake AI apps disguised as "ChatGPT" and "DALLĀ·E" are flooding app stores with dangerous malware that steals data and monitors users without detection.
Fake buyers demand specific vehicle reports from unknown sites to steal credit card information from car sellers, but warning signs can help identify these scams before paying.
Android users can now manage apps across multiple devices more easily with Google Play Store's updated remote uninstall button in the latest update.
NASA's Perseverance rover discovers shiny metallic rock on Mars that could be a meteorite from an ancient asteroid, containing high levels of iron and nickel.
Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.
Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.
Hyundai AutoEver America suffered a data breach affecting 2,000 current and former employees, exposing names, Social Security numbers and driver's license information.
Washington court rules automated license plate reader images are public records, even when stored by vendors like Flock Safety, setting precedent for transparency.
Fake airline texts claiming flight cancellations are targeting travelers with convincing scams. Learn how cybercriminals steal personal data and credit card info.
Discover how iOS 26's new Adaptive Power feature automatically extends iPhone battery life by learning your usage patterns and adjusting performance intelligently.
New TikTok malware campaign tricks users into running PowerShell commands that download Aura Stealer, which steals credentials and authentication tokens.
Gaia Family offers fixed upfront pricing for IVF cycles with unlimited embryo transfers and financial protection, partnering with over 100 U.S. fertility clinics.
The Jetsons Act aims to position Pennsylvania as a leader in advanced air mobility by establishing regulations for hybrid ground-air vehicles.

7 Ways To Get One-way Links To Your Site

One way links will help you gain better rankings in... Read More

7 Reasons Why Training Doesn?t Produce the Desired Results and What You Can Do To

Seven Reasons Why Training Doesn't Produce the Desired Results and... Read More

Ten Tips for Effective Meetings

Here are ten things that you can do to hold... Read More

Ten Ways to Manage a Rapidly Growing Business

While some new business owners face the issue of not... Read More

10 E-mail Organization Tips

Who doesn't have issues with organizing their inbox!? I receive... Read More

Top Ten Ways to Develop New Success Habits

1. Make a clear, specific commitment to what you want.... Read More

Top Ten Tips for Participating in Online Business Expos

Are you ready for a BASH? Have you ever been... Read More

11 Things Small Business Owners Can Learn From Star Wars

1. Great Things Take Time ? Three years passed between... Read More

The Seven Secrets of Top Performers

Let's put to rest the fallacy that success, in sales... Read More

Making Money over the Internet : 5 Cool Tips

The Internet is a fast growing medium, trancending the personal... Read More

The 10 Benefits of Cross Cultural Training

Cross cultural differences can and do impede upon communication and... Read More

Top 10 Ways to Use Quotations to Be Healthier, Happier and More Productive!

Most people have at least one favorite quotation from a... Read More

10 Things To Do Before You Start Your Business

If you are thinking of starting a new business, or... Read More

Ten Tips For Starting A New Job

1. Get to know people. First meet those people in... Read More

Increase Exposure, and Profits With Powerful Memorable Business Cards Using These Ten Strategies

Your business card is a valuable piece of real estate... Read More

The Hidden Power Of Understanding: A Secret To Building Massive Momentum In Your Business

You're busy with your business today, aren't you?You're pushing your... Read More

Sales Marketing: 10 Tips On How To Promote Yourself And Generate Sales

A lot of people are insecure about buying something or... Read More

Are You a Project Manager Or a Project Mangler?

Which one are you? An effective IT project manager, able... Read More

Top Ten Reasons to Write a Sales Letter for Each Product? - Part 2

Authors/publishers are great at getting their books written. Entrepreneurs know... Read More

International Shipping/Freight for Dummies

There are lots of benefits for some businesses to import... Read More

Famous Business Strategies

Either simply a looker-on or a player in the world... Read More

Ten Tips on Delegating Work

One way to manage your time more effectively is to... Read More

Top Ten Listening Skills for Speakers

Good Speakers need good listening skills to become Great CommunicatorsSpeakers... Read More

Top 7 Reasons You Should Back Up Your Data Online!

How much is your data worth to you? In this... Read More

Checklist for Hiring a Private Investigator

Looking for an old friend? Want to know if your... Read More

last minute cleaning help Highland Park ..