Topic: How to increase profit in business - page 3. (Read 1794 times)

You can use influencer promotion services as an add-on and often times this method is successful, price wars are also a problem nowadays and very often businesses that have little capital go bankrupt because they are unable to compete on price. There must be something that distinguishes the business that you manage with other people, meaning that you must be able to maintain the guarantee of the products you sell, marketing methods and the way you serve buyers are also very influential. Just look at supermarkets that sell the same goods as other stores and the prices in supermarkets are not always the same, sometimes they are more expensive and sometimes cheaper than other stores, but they never lose even if they have to make promotions or massive price cuts

That's why large capital is needed and when you can't compete with other stores, the business you manage will never grow. Currently, the role of developing a business is not easy and when our capital is small, it will be very difficult to compete because our competitors are much better prepared to cut lower prices. Regardless of the promotion strategy that we carry out and preferably after all the processes that you have done correctly, evaluate at any time and roughly what sector makes our business different from other people's businesses.

Customer service
Good price rate
Pleasing venue
Good staffs
Proper management incoming outgoing transactions
....
and there might be something had missed out.

All of these things would really be that needed if we do speak about about handling business and make it profitable or progressive but somewhat we do know that
not all business would really be ending up successful on which there would really be to those who had withstand and to those who had failed. When it comes to demand then it would
really be entirely be depending on several factors but in overall it would really be depending on the services or products that you've been offering and the rest
of those things above are really that in default.

I think in business good customer service matters a lot. The way customers are been treated will determine if they will come back to personalize your business or not. Customers always go to a place where they are treated nicely, this is one of the factors that helps in the growth in business. Availability of different varieties of goods helps in the growth of business because it gives customers confidence whenever they come to get stuff they will definitely get what they come for.

One of the things that scares customers away in business is high price of things, for a business to grow well the price of things needs to be in the actual amount that their won't be lose be lose in the price and their won't be too much gain due to the high price. Customers service and a fair price will always capture the presence of customers, these are the factors that will really help small businesses to grow in a small space of time.

Your business strategy, distinguished by its emphasis on product superiority and stellar service, alongside a premium pricing model amid competitive pricing, is remarkable. This differentiation could prove successful if superior value to customers is continually guaranteed.

However, the fact remains that price sensitivity is dominant in many markets, particularly when similar product options abound. While your promise of quality and personalized engagement may defend the price differential, the price-quality-value matrix is complex.

Additionally, the aim to transform every store visitor into a buyer could be too aggressive, potentially fostering high-pressure selling strategies that could turn customers away. A more balanced goal would be to foster customer satisfaction and loyalty, thereby ensuring continued patronage.

Lastly, while understanding marketing is essential, it must be coupled with a profound understanding of customer desires, market trends, and competitive dynamics.

Customers really like discounts, but there are others abusing them, mostly coupons. Others are getting tons of coupons or exploiting their rules in coupons to get discounts, but overall, you can really save from them. I noticed this only happens when there are events and also if the food is near expiration, which is still a good deal and can make the business not lose money as it will be wasted if not sold.

But how to increase sales and reduce production costs while ensuring quality?  this is something that any business will know even non-business people know about.  but if we notice, there are still many businesses that go bankrupt every day even though they also offer solutions like many are talking about here. it's easy to say but not easy to do. 
Running a business is not child's play, and simply reading a few books or looking for some online solutions can help our business grow.  if we want to improve our business, we need to know where it goes wrong and what to fix, people are giving solutions that are too generic and can be found on social media. 

You are very right, This is what I do with my business now. Produck completeness is very important, because don't let them enter our store, the product they are looking for isn't there and that makes them lazy to come again. Good service will also greatly affect our business in the future, especially in the midst of price competition. I confidently sell at normal prices (more expensive) because my competitors are price wars. But I have a quality guarantee (value) that is not the same as them even though the product is the same. Plus I like the prospect of own business to prospective buyers with simple offers plus giving detailed product info.

So, customers can understand and achieve my target. Whoever comes to the store, try to make him buy my product, don't let him fail to buy it. The difference in price is clearly more expensive for me even though the price difference is not much different. This is where marketing knowledge is needed in order to get regular customers and new customers.

Improving good service can increase the number of sales while promotions and bonuses are ways or tricks that can be done to make your business grow much more. Now is the era of digitalization and you can look for ways to promote your business through promotional techniques through Influencers and a lot of this pattern has been successfully carried out by business people because the target market segment is generation z who are capable of technology.

Completeness of goods in your store is also one way to bind customers to continue shopping at the stores that we manage, because when people come directly to the store and don't have the items they want, they may not come again in the future. So to build a business is not easy because it takes skill and consistency is also needed.

In my personal opinion, to increase or maximize profits in doing business, there are several factors that must be done.
The first is that you must always have innovations that are not thought of by others (business competitors). With that, I'm sure, any business will always be eyed by customers, because usually customers like shops or shopping areas that have different services or facilities from other stores or shopping centers.
The second is, always make customers comfortable when visiting your store, because every customer always wants to shop or buy something in peace and comfort.

The third is, making a rule for customers, for example like this "every customer who has come to this store three times, will get a free gift or shopping discount. By doing this, I'm sure customers will always go to that store to shop, because there is a feeling of wanting to get a discount or gift that will be given by the store. And the last thing that cannot be missed, namely the parking lot must have a fairly large area. Because in real life, I often don't visit a shop or shopping center , just because the parking area is narrow, therefore a large parking area also greatly affects the progress of a business, especially in the buying and selling aspect.

Of course there are many ways that can be done and it all depends on the business being run and every business has almost different ways to be able to increase profits, in general what you say is very true and in my opinion if someone wants to increase profits in business then there are many ways you can done and it is very possible to happen.

Personally I have experience in my small business, just by making promotions and advertising more intense in a short time my business profits increased drastically at that time, because it's only a small business I think it's quite worth it.

I think it's too much thought, because basically your suggestion is a form of a market demand that has strengthened, which then only increases production.
The main trigger is, how to increase market demand for the products/services that you make. In this case a strategy is needed, the main thing in this case is to use the right marketing strategy will invite consumers to buy your products, such as making interesting advertisements on TV or social media, using famous figures to advertise it, ordering services and fast delivery, This is for modern times today will increase the demand for consumers higher, which at which sales will definitely increase and profit will definitely rise.
The things that are mentioned are how to make people interested in buying the products you make, meanwhile to stabilize or maintain high sales, will return to the quality of the products or services that you make.


There is a real cunning way, when demand is rising on your business products, you can raise the price to be higher than usual and or reduce the quality of ingredients in your product, and this is effective if used as a way to increase profits in a certain time, but not a good and human thing.

One good thing about discount is that if it turns out positive the seller makes more profit due to high turnover. Business relationship preserves businesses, no business survive without business relationship. Customers satisfaction and excitement can trigger high recommendation and patronage from customers far and near. Another big business boaster is punctuality and consistency because many business persons with good customer relationship have lost their customers due to inconsistency and lateness, some customers don't tolerate lateness and won't mind looking for new vendors when the get disappointed.

using technology in business is not always more profitable, especially for plantation and agricultural areas, which are quite extensive. if a company or individual uses technology on their fields it will cost money for them to be able to buy various technological equipment to be able to support their operations. not to mention they need to maintain it and keep the tools they have from being damaged or stolen by people. especially for large areas, network access is needed so that this equipment can function properly or fuel to support trucks or other vehicles.

so technology is not always able to make a business run more efficiently and effectively. businesses or individuals also need to look at the conditions that exist in the field to be able to adjust to their needs and financial conditions. so there is no need to be surprised that in Japan there are still many businesses that use traditional equipment, even though the technology is very advanced there, because they take into account the costs to support the technology if they use it.

A good business is a business that develops from childhood and then continues to increase, if we want to increase profit in the business then there are 2 most important things that must be done, first is to increase the volume of sales and the second is to reduce production costs, if these 2 simple things can be done then then It can be guaranteed that we will get a profit that matches the target.

The only way to make your product cheaper is by lowering the margin of business. This option would take High end management because playing with the low margins could take up good amount of revenue thus making it difficult for the business runner. However, there are businesses which would do this but they would just keep the fixed revenue. This way business is always at stagnancy and never reached to new limits of profitability. But obviously it’s hard to manage that way.

The other way is what you stated, just have the low quality products and close the business soon.

reducing the number of employees will actually worsen the situation, of course it will have an impact on production or service.
there are several other things that can be done to remain effective and also reduce the cost of paying employees, for example using robot power is quite effective in reducing production costs, currently technology has developed rapidly and there are many conveniences that can be profitable for companies.
and to increase profits in business, in my opinion there are several ways and for me personally the best way is marketing and promotion, if it can be run properly then it is very likely that the company will continue to be able to increase its profits.

How to increase the quality of products and services but still have to be cheap? Do you have a business? I have not seen any business that can do that, because to create good products, it is necessary to have quality raw materials and good people to develop high quality products. Does that mean it will cost more to manufacture, and how can it be sold cheaply? That clearly shows you are in the customer's position to make that request, not the boss's.

You are right that during the ongoing crisis, economic challenges are very tough, and it has become hard for the companies to maintain their headcounts. Consequently, some large companies are considering downsizing to reduce their expenses. Therefore, to survive in the market, companies have to find innovative ways for the continuity of their business. One effective approach could be to focus on providing better quality of products/services at competitive price.

The most visible and most felt efficiency with the presence of many technologies is in the time saving sector when working. For example, in what you said, in the past, when people plowed fields with hoes, they always spent more time, while those who currently use machines such as tractors. Of course, less time is needed so that there is a lot of other work that can be completed at the same time if there is assistance from the use of today's technology in every work done by humans.

Apart from saving more time in completing work, another thing that is felt the most is that the results are always more efficient and precise as desired. These two things are very commonly felt by workers who have used the help of machines or technology that are specifically developed to make it easier for every worker to complete their work. And the use of certain technologies also has a good impact on business development when the business is running without any obstacles.

I am talking on behalf of customers, as I don't have business. The really best reason that the customer is coming back to the business is the quality and the price, as well as how they deal with customers because those customers want to be taken care of, like how they approach their customers. One of the examples I noticed here in my place is that there are really the same stores and one is like 20 steps away. They both sell goods, but people still prefer the furthest because their staff are good and able to talk to their customers, unlike the other one, which is boring and sometimes they will scold you, which is why customers prefer it.