Profit is all that matters
NOW how do you maximize your profit each day, week and year? I will share some old fashion tips that still work. One of the first and my money the best way is to ask your vendor that you buy your products or services from if they have any special pricing that they can offer that you are not currently getting.
“Profit is all that matters” is kind of a strong statement and it is not what I really wanted to say. My whole thought process about this post is profit matters but not at the expense of some of your customers. Here I go again not saying what I mean and betting around the bush, something that I hate when I am reading someones article or sales letter.
The point is you want to make the most profit that you can but you don’t want to cheat your customers and you want to make sure that you give them value / service for their money, that is all that I am saying.
Then ask them what new products are on the table due to come out, can you be one of the first to carry that product / service. What old products that they might have special deals on, discontinues items that you can offer to your customers. There is a number of chain stores that grew because of the discontinued products business.
Now when your talking to your vendors about old / current / future products ask for new POS (point of sale) signs or pictures and articles if your an online business, for products that your selling. Signs Sell it is a proven fact, keep them new and fresh (change them often) the same goes on line, if you keep your site fresh your customers will come back often.
If you sell a product that requires replacement parts for it if you don’t already. This does 2 things, when your customer needs those parts he/she comes back to you to get them and just might buy something else because he/she is in your store. This doesn’t mean go out and invest in $200,000 in parts just to try and get your customers to come back. This means that you start off small by starting with the most popular models and grow your business little by little.
Little buy little adds up to a lot. And yes my spelling is just fine, because I meant as the customers buy a little here and a little there it will add up to more than just a little.
If you don’t think that this applies to your business then comment right here below this post and I will be more than happy to tell you how that could apply to your business.
