How to increase profit in business

[BobK71]

Please feel free to drop your own ideas on how to increase profit in businesses.

All the ideas you mentioned will really help to increase the profit in the business Not only the satisfaction of the product but also the behavior of the seller many times the customer got satisfied which you have mentioned well.
Now if I had to mention some more my personal ideas would be something like this-

• Make less profit on each product but sell more products
• You can initially hire local celebrities for advertising or promotion, which will increase both your sales and profits.
• Open accounts on online social media platforms and be active in online media as much as you can. And presenting all the business updates there constantly.
• Be aware of what strategies other businessmen are following in other international marketplaces.
• And basically follow the trend.
• Generating creative ideas

Lowering the profit on the product can be a good way because nowadays people trust the business if they get goods with a little less price. They will go to that business area to buy any product. Besides, they can do the marketing to the customers themselves. They will discuss and help bring other customers to the business. It is possible to get quick profit in business. Advertisements can also be made with celebrities one another good idea for expand the business. Basically in any business a entrepreneur have to give more effort from the beginning, but after a few days there will be signs of success. In any business, if reputation can be gained once, then that business will be get quick success.

[Ebede]

Increasing your business is being determined by her own strategies because there's no business that I have a particular strategies that you can operate with and make your money so you can only make you money in business through your own creativity your own understanding your own way of narrating or fixing things together is how you can only get prosper in your own business

[Captain Corporate]

Lowering the profit on the product can be a good way because nowadays people trust the business if they get goods with a little less price. They will go to that business area to buy any product. Besides, they can do the marketing to the customers themselves. They will discuss and help bring other customers to the business. It is possible to get quick profit in business. Advertisements can also be made with celebrities one another good idea for expand the business. Basically in any business a entrepreneur have to give more effort from the beginning, but after a few days there will be signs of success. In any business, if reputation can be gained once, then that business will be get quick success.

The idea that cheaper would be better because people do not have too much money is a wrong approach. You need to make a durable product that will last for many years, as many as you possibly could, so that people would spend premium amount of money but will not have to buy it again and again. Anything I buy, I am willing to spend double or triple amount of money as long as it continues double or triple amount of time as well. I would rather spend 3000 on a thing that lasts 3 years instead of 1000 on something that lasts 1 year. Why? Because that 1000 thing will become 1100 or 1200 or even 1500+ in my nation in a year, whereas when I buy it for 3000, and it goes for 3 years, that means I did actually pay 1000 per year for it. Like my phone, I spent 3000 lira for it 5 years ago, still durable, still doing fine, today, even after 5 years, I can sell it for 10000 lira, because inflation is disgusting here, what if I bought something worse and had to change it now? That is why nothing cheap is actually cheap, if you are poor, buy something premium that will last you much longer so you could spend a lot less overall.

[kingvirtus09]

In order for you to increase your income in business, you need only a small margin or profit for each sale you make, and you should also have freebies or promos that will make them feel like they are winning when they buy your goods, but they don't know that you can also earn money there.
And above all, customer relations should not be lost because it is very important, or you will have a raffle draw.
This is what is often seen in other grocery stores, restaurants and so on. But what kind of business are you talking about?

[n0ne]

Increasing the profit in business is possible out of one's own dedication and the innovation he/she had added to it. We can see good number of businesses all around and the unique one used to be discussed among the friends. This can be food industry, cosmetics, automotive, exchange, anything. Also the unique ideas incorporated into business bring free promotion. This itself a big advantage. In most of the business the spending on promotion used to cost a lot. So, in each and everything we need to be environment friendly as well as it needs to be unique. Even after this we were able to see failure. We shouldn't go down on such circumstances, we should have the confidence to grow up high again.

[TheGreatPython]

For me marketing is the best way to increase your customer and profit as well. If you're a small business, you need to learn how to adapt on the latest trends and use it to market your product or service especially in social media. Social media can play a big factor to get recognized by possible customers. People nowadays love witty marketing strategy by using what's trending or funny ways of promoting your product. Also, a great design or layout can also help to attract people. Even bigger company spend a lot of effort on social media marketing because that's the fastest way to spread your business on a bigger audience.

After promoting and acquiring new customers, then that's when you have to work on maintaining those customers and make them loyal to you, either through experience or the quality of product you provide, or both. Once your customers enjoyed and we're satisfied with what you offer, you'll get free promotion because they will share it to their family and friends

We are living in a digital era, so social media marketing is obviously the most important aspect of a business. Digital ways of promoting your business along with traditional methods of advertising through billboards and banners will generate great results. Most businesses these days even focus on online selling their services and products.

Having more alternatives for providing your services and products to your customers gives you an edge over your competitors and puts your business way ahead in this modern era where businesses find it difficult to survive.

[MiF]

We need to do promoting or anything that can make our product popular some business stablisment uses social media facebook,tweeter, vedios to promote the business products etc., Social media is the ways for today's generation to increase the costumer and at the same time increase the profit. Because more customers more sales followed by more profit.

[Bitcoin_people]

Good customer etiquette is essential in any business. Because if you show love and respect to a customer then that customer will buy everything from your store later. Customers will be attracted to you by your behavior and will attract more customers to you. A lot of new customers will buy products from your store if you offer occasional discounts to give special incentives to the customers. And if you do business in this way, you will not have to look back in the future, but your future will move forward. There are many other tips on how to do business with self-esteem and attract customers to a business owner.

[Kelward]

convenience, customer satisfaction, product quality, low prices, discounts, and good grammar from the seller are the keys where consumers will always be happy to come back to the business you have. it will let them do free advertising to people who need the same or similar products, and they will advertise it for free to their friends. it will increase the number of visitors and consumers at your place.
For example, when bitcoin becomes hype, very many of us do free promotions to the people around us, so that in a short time, bitcoin becomes famous and has a lot of users. Apart from that, another way to increase profits in the business that you have is to take advantage of social media such as Facebook, Twitter, Instagram, TikTok, and others. it has also proven effective in increasing the number of consumers, and increasing the profit we have.

One point that stands out in this topic of how to increase profit in business is the power of advertisements. Be it giving excellent and delightful services to customers which will make them to advertise your product to their friends, who in turn will patronise your business and increase your profit. Or the most powerful of them which is social media. Be it Google, Facebook Instagram or any search engines gives businesses the widest reach, in terms of connecting businesses to customers anyway in the world.

We should remember that good product sells itself, so we should try to be promoting genuine products. Because people will build trust in our business and we will see our profits flying higher.

[Reid]

I do believe customer - owner - crew relationship should always be the priority if you want a successful business. But it is a different era now especially if you are selling thru online and deliveries too. It's difficult to create that kind of relation when you don't even see them daily/weekly/monthly unlike how it was before. So a business owner must also create ideas on how they can strengthen that relationship to keep them from purchasing from you.

Events are good, discounts, rewards, whatever we could provide to entertain more customers or the customers themselves pulling another to widen your field of marketing. Give them what they want and listen to their suggestion. Try to input it as much as possible and see to it that they will realize that you applied their suggestions.

[BVeyron]

From my experience as a business person, in buying and selling, I have discovered some helpful tips on how to increase profit. I an happy to share some in this forum.
Customer relation, a business person must understand that customer is king and should be treated like a royalty. Even it they are buying the least thing in your shop. When they leave your shop delighted, be assured that they will always come back to patronise you. And they will even market your products to their friends. Meaning more patronage for your business which will be increasing your profit.
Your business should have at least one season when you give out rewards and discounts to customers when they buy your products. This will increase your sales geometrically and when you remove the cost of the reward and discounts, you will still have increased profit.
Stock different brands of the products that you sell. Customers will prefer to enter a shop where they will see different varieties of what they need. More customers will enter and will even be tempted to buy more than they planned for. More customers equals more profit.

Please feel free to drop your own ideas on how to increase profit in businesses.

One of the main things about business is rivalry, the profit business gets is always only a part of the overall profit in the business field. So the best way to increase profit is to be up to date with what rivals do, and try to do better. This is not only about quality (quality is for sure an undoubtable thing which should be under strict control of the business owner): also ad campaign, and the other features essential for attracting customers (good positioning in the streets and in media) should be not worse than those of the rivals.

[Rupok]

Currently, the successful businessmen are the businesses based on online platforms, because these businesses are now expanding a lot. Customers can now buy all the products online according to their preferences and needs. To be successful in business, you must provide good products to customers.Now is the age of updates, so try to keep updated products in store all the time.  Select the quality of the product and sell it. When the buyer gets a good product from the seller, that buyer always buys the product from that store.Avoid any dishonest practices while offering discounts or rewards at any events.

[imamusma]

The title of the thread seemed misleading when I read your content. The title seems to be asking how to increase profits in business, but instead you wrote some advice for doing it.

Currently, the successful businessmen are the businesses based on online platforms, because these businesses are now expanding a lot. Customers can now buy all the products online according to their preferences and needs. To be successful in business, you must provide good products to customers.Now is the age of updates, so try to keep updated products in store all the time.  Select the quality of the product and sell it. When the buyer gets a good product from the seller, that buyer always buys the product from that store.Avoid any dishonest practices while offering discounts or rewards at any events.

You are right, I can justify it because this kind of business has become a new trend among resellers. Instead of renting a shop to sell their wares, they choose to supply goods at home and sell them online. This business is very profitable and many people have started it. This is something that developed during covid and continues to interest traders today.

Each customer only needs to pay in advance for the goods ordered, or can also pay at home when the order arrives (COD). The problem is that some sellers sometimes try to deceive their customers by sending goods that are of a different quality than those sold in their online store.

[cydrix]

Advertising and building brand recognition are two of the finest ways to increase your revenue. People become more familiar with your goods or services when you invest in marketing your company. Even better if you can use something distinctive to market your company. Like a tagline, a product, or anything that makes a company's identity obvious to customers. You will make more money as more people become aware of your company. But do not anticipate making a lot of money after a few days of advertising. It will provide you with a good ROI in the long run after a few months.

[coupable]

In my opinion, the best thing to increase profits in business is to increase capital and marketing which is getting more massive, currently there are many social media influencers that we can use to advertise our products, and this has proven to be more effective, some conventional advertisements such as television or newspapers also still have performance. which is good so we have to do all marketing tools.

Increasing capital and marketing efforts can definitely help you (as a businessman) to increase profits. Those are fundamental basics in today's market rules.
One last additional note about investing in employee training and stuff development can also help increase productivity then ultimately profits.

[xSkylarx]

I don't have a business, but treating me right while in their shop makes me come back later on. This was really similar to when I first built my PC. I was just going to buy parts, but because they made me an offer that was really good to me, I was able to build my first PC in their shop, and they thought so too. So also on my second build, that is also the same thing they do, which is why I advertise them mostly to my friends, as they always ask for my recommendation on where to buy parts, which they are really thankful for. If you treat your customers like this, you will sort of have a free advertisement, and this kind of strategy could really attract more customers to your shop.

[Wend]

In my opinion, the best thing to increase profits in business is to increase capital and marketing which is getting more massive, currently there are many social media influencers that we can use to advertise our products, and this has proven to be more effective, some conventional advertisements such as television or newspapers also still have performance. which is good so we have to do all marketing tools.

Increasing capital and marketing efforts can definitely help you (as a businessman) to increase profits. Those are fundamental basics in today's market rules.

No offense, but this is something everyone knows, as long as there is a lot of money, anything can be solved. Most of what people are discussing are just general ideas, and we can find them on the internet.

In my opinion, if we want to increase sales in our business, we need to identify at least the challenges facing the company. From there, offer solutions suitable for the company's size and in accordance with the costs the company can spend. We cannot apply the solution of an enterprise with a charter capital of 1000 billion dollars to an enterprise with only a few tens of thousands of dollars in charter capital.

[Iadegbola34]

Your tips on prioritizing customer relations, offering rewards and discounts, and stocking different brands of products are all great ways to attract and retain customers, which ultimately leads to increased profits.

Another idea to consider is to constantly innovate and improve your products or services to keep up with changing customer needs and preferences. This can also help differentiate your business from competitors and attract new customers.

Additionally, investing in marketing and advertising efforts can help increase brand visibility and attract more customers to your business. Utilizing social media platforms and other digital marketing strategies can also be effective and cost-efficient ways to reach a wider audience.

Overall, there are many strategies that businesses can use to increase profit, and it's important to continuously explore new ideas and adapt to changes in the market. Thank you again for sharing your insights, and I hope these additional ideas are helpful.

[Supreemo]

Too many customers obviously won't increase your profit, and if you're selling things at a loss to them, I don't think that's a good way to attract more customers. Instead, treat your customers well and stock your store with a variety of goods so they can make the perfect choice when they visit. As you mentioned, treating your customers like kings is another great way to boost your revenue because they'll notice when things are going well in your store.

by providing a high quality of service and also food you provide  can surely attract more customers especially when give them satisfaction of what they really want, the consumers will always come back when you treat them right and make them feel welcome as your regular customer and that's the time they will give feedbacks which it will give a very big impact for your establishment to be well-known.

[Unbunplease]

by providing a high quality of service and also food you provide  can surely attract more customers especially when give them satisfaction of what they really want, the consumers will always come back when you treat them right and make them feel welcome as your regular customer and that's the time they will give feedbacks which it will give a very big impact for your establishment to be well-known.

In addition to quality, you also need to consider price. Quality products are expensive, so you risk losing middle-class customers. You should try to make products that are relatively high quality, but more or less cheap. That way you can capture as many niches as possible.