Now, you might be saying — “Jon, you are supposed to be teaching us about marketing tips and such, but the whole reason you started this was to make a profit, right? That’s what I am talking about today.
If you make a profit, then you can sustain your business. You might say, that you are making all the money you need to make, but if you don’t try to make the most you can, you won’t be able to invest in your business to make it grown
That is not good for the long term. You need to grow some, and for that, you need to make a profit.
You can cut costs if you want, but that will only take you so far. Cutting costs is a great idea, but there is only so much you can cut, and then after that you can’t do anything else.
The best way is to increase sales in a profitable way – and not selling for selling’s sake.
There are really only 3 ways and we will be discussing this later in another podcast, but you can search the Marketing for Owners site for more info on it.
- Get more customers and clients
- Increase the amount of money they spend each time they buy stuff
- Increase the frequency in which they buy
This one is in the bracket of #2 to increase the amount of money they spend each time they buy stuff.
Say they spend $100 each time, if you can increase it to $105 or $110 that is good, but if you can increase their interest in something you can teach them – that is even better.
The reason for this is because people will do, and people love to find something that increases the value of what they do and if you can do that, then you will create a lifelong customer this way.
This is much more than McDonald’s. This is more than suggesting fries with a sandwich. You go over and above to give your customer everything they need to feel successful.
Now, you might be thinking that if you sell cars you can’t just throw in another car at half price, but what if you are an accountant?
You can offer to throw in a monthly budget check or something like that. Always offer an upsell when it comes to your products — because your customers will wind up buying more in the end.
Drive Time Podcast
Today is Thursday and it is time for a drive time podcast and I am going to recommend Eventual Millionare by JaimeTardy.
She is one of the best interviewers of Entrepreneurs out there. You will not want to pass this podcast by. Subscribe to it and have a listen.
Now, tomorrow is our ones to watch interview series. You will love it and then I will be back on Monday with more tips.
Have a great weekend owners!