Topic: How to increase profit in business - page 12. (Read 1818 times)

Well, it depends on what type of goods, items and products you are trading ( selling and buying ) , also the stock quantity is essential too, the more you  have, the bigger the gain. In addition to that, it is necessary to prepare a solid and professional business plan before you even start , it must contain an effective business strategy and key aims. It really helps to attract investors. In fact, you must  have a futuristic vision. Regarding your question, you will be able to increase your gain when you build an effective marketing strategy and work on it. Unfortunately, a plenty of entrepreneurs don’t give a value to marketing, they end up failing despite they have  solid projects and potential to succeed.

Well that is for your personal strategy and not for general strategy. Everyone has their own strategy of winning customers' mind. But the must appropriate method of winning customers' mind is the reduction of prices of the goods or the services. This is the most effective strategy I know, with that they will do the advertisement for you. So if that you method is working for you, then you can go with it, because it might not go with another person. In business you don't have to use only one method to attract customers.
There are sometimes you can even give them free gift to motivate them.

Well, these are default thing on which it would really be just that having on a business because if you wont really be tending to do all sorts of those common approach on a business then you would definitely fail out.
Yes, lets say that you had applied it out, does it mean that you business would definitely or surely succeed? No. There's no assurance to this on which it would really be just that not a solid thing to rely on.
WHen building up a business then it would really be just that normal you would be having that approach which giving out importance to customers most of the time and would be giving out discounts
but be sure that you wont really overdropped if ever you would decided on launching one.

Of course you would really be basing up on how much money you are really that making or profits because you cant just launch up some discount just because it was really needed or you are showing desperation on
getting customers.If you do go below on the bought price then for sure you would really be bankrupt in no time, unless if the sales or demand would really be catching
up, but if not? Say goodbye into your business.

Budgeting is a big help to maximize the full potential of the company, many are skipping this one and they are too focused with their promotions to attract new customers, good to see a financial tips here. Doing business is not easy, it will always stressful especially if you are managing your own business but once you are able to create a good strategy and you already know how to handle that business then sooner or later, you’ll see your good profit.

Our business should be on top of other businesses so that we can easily increase our profits and create massive returns. And by offering updated discounts and promotions weekly or monthly that will attract the customers, they will continue to support our business and continue giving us consistent profits. As long as we are hitting and keeping our customer’s demand, then it would be easier for us to increase our profits despite of a lot of competition in the market.

Another tip to increase profit in business is to regularly review and analyze financial reports to identify areas where costs can be reduced or where revenue can be increased. This can help optimize operations, streamline processes, and make informed decisions to maximize profitability. Careful analysis of sales data and customer feedback can help you identify which promotions are most effective and adjust your strategies accordingly.

Customers are the most important persons in the business so we should learn to value and respect them as much as we value and respect our own business. Once they don’t feel appreciated and gone, then it could be the end of our business. Also, by providing them quality items that are actually what they’re looking for, in which the price is still fair and affordable for the customers, surely it will meet their demand and become a hit to the customers that would bring huge amount of returns.

From my experience as a marketing person, you seem to be leaving out one of the most important aspects of any business and instead making the mistake of relying on your customers to lead the direction of marketing for you. You're the one who should be paving the path of how your customers view your product. Not the customers themselves. If your marketing is effective, you can maximize your profits without relying on hard logic. Marketing is more of a soft logic approach, which can be thought of as a tool of motivation. You need to convince someone of not just the fact that they need your product, but why they need your product and why they should buy from you.

Your PR approach of giving away rewards and discounts is good, but you should aim before you shoot. If you combine community-led advertisement with rewards for example, that alone will drive your „Word-of-Mouth“ marketing to new heights.

The topic of managing product prices amidst an ever-increasing inflation rate is fascinating. Inflation has affected businesses worldwide, making it challenging to maintain prices while improving product quality and service. This is especially difficult as production costs continue to rise. Are there any effective strategies for coping with this issue?

The importance of advertising businesses can not be overemphasised, especially on the internet. More people outside the area of your business can easily see your products and services. And they can conveniently order for your products in the comfort of their home. You will be in your place of business and thousands, even millions of people can see and make orders, just like that. The sweetest thing is that as more people are seeing your product and you are delivering ,so is your profit, also increasing.

The power of advertising is wonderful, in increasing profit.

Actually, there is always monopoly in business; perhaps if you have competitors in your area that sell the same product as you, then we still have to refer back to where the OP talked about maintaining a good customer relationship with customers. Because that will always help your customers stick to your shop and may also refer more new customers to you. But from my initial reply, I still persist that being in a good location where you can be open to many customers is also a key to making profit. Because first you need to be in a good location before you can get customers, and when you have those customers coming, you then need to maintain a good relationship with them. I knew about three different grocery shops in my area as of last year, but this year they have all relocated. When I came into contact with one of them, I happened to be her customer, so I asked her why her shop had been closed, and she said there were not many customers in that area and that she had to relocate to a new place because some of her items were exceeding their expiration dates. So first, I can say that lotion is a factor.

This is a lesson often forgotten by those which just look at their balance sheet at the end of the month and they just see a bunch of numbers, but they forget that their clients are humans, so if you do not treat them well and make a point of doing so if they are your long term clients then they are bound to leave and replace you for a business that does, even if they have to overpay for the privilege, this means that any business regardless of the quality of their product still needs to try to give the best customer service they can or risk being replaced by another business which does.

You will get to discover that though there are some tips that are general in business, there are businesses that need some specific kind of tips that can only be given by people who have experience in them.

For customer relations, it is a general tip. You should treat your customers right but at the same time if you provide a service, try to put value on your service by not being rude to annoying customers who may want to take advantage maybe of your price, but be straightforward and professional with them.


This is not necessary for all businesses. Do not force yourself to give rewards or discounts when you know your business cannot do it yet. If you give unnecessary discounts, it is possible for the business to have losses.

As a former entrepreneur, I have a couple of things I'd like to impart for people who'd like to expand profit in their business without breaking the bank. Some of these tips I haven't tried myself but I saw be effective on other businesses, so there's that.

For one, you have to know who your target audience is, and capitalize on them. If you're looking to expand your business and its profits, you have to cater to a wider array of people. This will inevitably cost you money, so be sure to have the money to fork if ever you're going towards the expansion path.

If you really couldn't fork the money for expansion. Free marketing is a real thing. Right now we have a lot of stuff to use and abuse like Facebook, Twitter, and Tiktok. Advertise your business there by employing common marketing techniques and incorporating trends into your advertisement.

I hope this helps. The latter I used with great results, so I can vouch for its effectivity.

Well sometimes you might need to weight out between making "customer right" which is kinda toxic business philosophy if you would ask me and growing your business. In the end, sales is what you needed and should want. If your product is not really needed nor wanted, why bother thinking that customer would even come back. Just hear me out in this example, almost every corners and block here in my area are composing of milk tea businesses and it is kinda getting annoying that these business owners think that milk tea are still a thing these days. Although I kinda understand that there are a lot of Korean fans here in my country (I know that bubble tea originated in Taiwan), it is kinda getting a saturated business idea ya know.

To answer your question about increasing profits in business, make sure the business and not just you is up-to-date to the trends these days. This is why I tend to avoid foods businesses since they're kinda high risk and people would be sick off the food due to it being repetitive.

Location won't help the business if the business idea in the location is really saturated. Here in my area like I previously mentioned, there would be people that might answer that they like milk tea, but then there are way too many competitors for milk tea business and that is kinda going to be a threat in my own end. I guess unless the business went multi-national then we're good I guess.

maintaining the quality of our products makes our brand different from others creating high value from our brand maintaining relationships with customers and providing them with excellent service so that our business will run smoothly in the future.

Yeah you are right that a business need to offer discount at least once for a certain season. discount will attract more people to at least knowing your product or even buying it. I am sure if you really have good product, people will come back again to your business.


Diversify your brands of product that you sell will be good to attract more customers, but not every business can apply this because they are focus to sell their own product but at the same time they only have 1 or 2 type of products. But generally you have good point to do if a business are be able to stock different brands of the product that is sold by them.

Their are many ways to make increase profits in business take good care of them, consider their situations and know the can business that fit the place you want start the business, you know when you do some can businesses in some place you will not gain any profits, so you look the place very well and think, this business I want to do in this place, ask your self this place will good for the business I want do? If the place is not good for the place you lose. And if the place is good for the business you want  to do, the next thing is to social to your customers and maintain the relationship between you and your customers.

Jeff Bezos has brought Amazon to where it is because they are a customer focused organization. Right  from the time he started out, he has always hammered on the Amazon being a customer - centric organization. That's one way to increase profit. Apples computer on the other hand has focused more on building the highest and most desired devices. In my estimation, these people are not customer-centric but product centric. So aside customer service, the products you create, if they are of the most highest standard would bring in the profits too.

The first thing I will like to talk about profit for business owners will be to study your environment the instance you gave that one should be given a discount will not be appropriate for every location you will be surprised that some people will not patronize you if your products are cheaper than other because they will think you are selling fake or less quality product.