E-Profit Today

Is almost every dime of income your business makes pouring down a black hole to pay bills leaving you asking 'Where did all the money go?' Want to know an important principle about managing money?

You must make more money than you spend!

How can you accomplish that? With a tactic called INCOME PLANNING. I've listed 5 things you can do to make more money in your business.

IDENTIFY WHAT YOUR CUSTOMERS WANT - First, work out what products or services your customers want to buy and then offer that to them. One way to work out what they desire is to study your sales receipts, and work out what service or product is the biggest seller. Question your customers about 1) why they bought that item or service, and 2) how they expected the product or service to benefit them. Then repeat what they said in your advertising campaign to promote that service or product.

ADVERTISE TO YOUR TARGET MARKET - There is an art to promoting something so that it will be responded to by your customers. Advertising does not necessarily mean offering a reduced price. It's much more important to find out the reason a customer wants or needs what you are offering, and what they will base their buying decision on. Price may be less important to them than quick delivery and dependable service.

Find effective, inexpensive ways to promote. When you meet a potential client, get their business card, and mail them a personal letter to let them know how your products and services would benefit them. This is one of the most personal, least expensive promotional actions you can use. A series of postcards mailed at regular intervals to current and potential customers has proven to be very effective.

Another effective way to get new clients is to request referrals from your satisfied customers. You can make it enjoyable for your customers to participate in referring new customers by coming up with a referral game they can participate in, where they get something in return for referrals who buy. Let your customers help you out. They really do want you to succeed in your business.

SELL AND DELIVER - Selling is easier when you are honestly interested in your customers and want to help them. ASK your customers what they want. That makes it easier to sell them your services or products. Here's an example, a young single person who wants a 2-door convertible sports car is going to walk off in disgust if the salesman insists on showing them 4-door sedans, even if it's the deal of the century.

After you've sold the product, fast, courteous, professional delivery is necessary to ensure customer satisfaction. If you are in a service business, this is doubly important. Delivering what you promised, when you promised it, can ensure repeat business and referrals for new business.

PREVENT THE WASTE OF MONEY - For every dollar you agree to spend in your business, work out how that expenditure is going to return $5 or more worth of income back into your business. Carve out a percentage of the weekly income to pay for a promotional budget and then figure out the most effective ways to reach your customers within the budget. It is extremely disheartening when the income you worked hard to earn gets wasted on purchases that do not give you a profitable return on your investment.

REPEAT SUCCESSFUL PROMOTIONAL ACTIONS - Look back at when your sales were highest. Figure out what successful promotions you were doing at the time that may have dropped out and put those actions back in.

There is a revolutionary new money management software tool available to help you use your creative thinking power, time and energy on planning how to increase the income. That gets the CASH FLOWing into the business. It helps you manage your money so you can put your attention back on customer service and you will enjoy your business even more.