How to increase profit in business

[Kadal Ijo]

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.

[bettercrypto]

Those are good things you said and those are really major help things in any business we will build. Then the consumers, even if it's just a little discount, most of them are actually happy.

        Especially if the gimmick you will do in business will be popular and enjoyed a lot, it will surely boost your advantage because your regular customers will surely tell their friends about your promos and freebies for all are your regular customers, and I also think that it is also effective for them to have a discount card from your business as well.

[mvdheuvel1983]

Customer relation, a businessperson 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 patronize you. And they will even market your products to their friends. Meaning more patronage for your business which will be increasing your profit.

For a customer to be treated as king the businessperson if they have staff working for them must invest in training of the staff. In addition, if you have a physical shop space, consider giving it a modern look because most times, customers will return because of the ambience, atmosphere they experienced while shopping.

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.

If some businesses adopt a sort of casino VIP loyalty club model, it may attract more customers and increase sales. casino VIP loyalty club model will be for those customers who buy the most and are returning customers. They may even help to make small customer-shop base decisions. At least you will be getting opinions on how to improve your business from the customer point of view.

[Lida93]

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.

Haven mentioned certain key elements on how to keep increment in profit by business people and how to delight their customers for better patronage to their business. I would like to pick on the issue of the small scale shop or business, that it depends on the business size that a business man can be able to take up the decision of giving out rewards and discounts to customers. It can't be feasible for such a struggling business with a scarce space shop battling to hold up. Any attempt to have a discount giveaway is tantamount to ending the business.


On the other hand, the model is undeniably advantageous to large business owners. For customers easily switch to where they get value for their money due to the discount they may enjoy therefore leading to increase in demand and sells for the business owner.

[GigaBit]

Building good customer connections is an efficient method to enhance earnings. You may boost client loyalty and attract new consumers by treating them like kings. Furthermore, even after deducting the cost of the incentives, delivering awards and discounts during a certain season can assist raise sales and profits. Stocking a variety of brands of items may help boost sales by giving buyers a larger choices to pick from.

There is no substitute for advertising or promotion for business expansion. Those who can manage the marketing process correctly will also find quick success in their business. However, in this case a decision has to be taken depending on the type of goods by which a trader wants to conduct his business. To manage any business, the manager must possess certain qualities. Qualities that are suitable for any type of business such as quick decision making, establishing good customer relations, having the ability to accept any challenge, having the attitude to take risks, being able to set long-term goals, making realistic plans to achieve the goals and so on. Ability to implement step-by-step and self-sacrificing attitude. When these factors are found in a businessman, he will be able to take the business to a level along with the rapid expansion of the business.

[isaac_clarke22]

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I see where you're coming from. Indeed it is more than a requirement to have a good location considering also the factors, not just the people but also how convenient would it be to reach your store, let alone for your distributors and suppliers.

Also worth noting that I had worked with few clients and you're definitely spot on on maintaining relationships with customers. It gives rumors (good rumors of course) around your business regardless if it is a service rendered business or merchandise ones.

For a customer to be treated as king the businessperson if they have staff working for them must invest in training of the staff. In addition, if you have a physical shop space, consider giving it a modern look because most times, customers will return because of the ambience, atmosphere they experienced while shopping.

It kinda depends still on what business offers to people. Some business would still remain classy especially for those diner restaurants. I wouldn't ever return to a diner restaurant that just do some flashy ambience just to look "latest". Sometimes the latest design is not really the better one. Look on how other manufacturing companies "modernize" their logos.

[Altryist]

Yes, that's right, our service to customers or consumers is one of the determining factors whether our business runs smoothly or not later. The reason is based on my experience, I prefer good service even though in terms of price it is slightly more expensive. Maybe some people will not care about this, the important thing is that they get quality goods at competitive prices, but for some other people service is one of the things they have to get. In my opinion, the way a businessman serves his customers must really be considered.

To get good business results, you need to look at many indicators, from the quality of goods and customer service to a good assortment of goods. And just due to a good assortment, you can increase turnover and, as a result, profit.

It may take a lot of time to decide on the running assortment, but this is what will determine the success of the business. Service is always important, especially now when it comes to online trading, where every buyer can leave a review and it will be available to everyone.

[bitzizzix]

Yes, that's right, our service to customers or consumers is one of the determining factors whether our business runs smoothly or not later. The reason is based on my experience, I prefer good service even though in terms of price it is slightly more expensive. Maybe some people will not care about this, the important thing is that they get quality goods at competitive prices, but for some other people service is one of the things they have to get. In my opinion, the way a businessman serves his customers must really be considered.

To get good business results, you need to look at many indicators, from the quality of goods and customer service to a good assortment of goods. And just due to a good assortment, you can increase turnover and, as a result, profit.

It may take a lot of time to decide on the running assortment, but this is what will determine the success of the business. Service is always important, especially now when it comes to online trading, where every buyer can leave a review and it will be available to everyone.

You are right, and the most important thing for me is. Loyal to customers, providing good quality beyond expectations, not sacrificing qualifications, always maintaining quality according to price.
customer satisfaction by providing quality that is comparable to the price and the best service related to goods or services in business, will make your business promoted by customers. And with customer or consumer trust in your product, and also your product must be of higher quality than others, manage this automatically, your business will grow and also increase profits.
So, the most important thing is the quality of goods and the best service to increase profits and also your business. And henceforth it will go hand in hand with time, but these two things must be implemented or owned from the start.

[Faisal2202]

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.
...
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.

Customer satisfaction should be the main concern of every shopkeeper, (as you already mentioned), as most of the time when i want to buy something from one shop, they don't even care about you and deal you as a time waster, like nowadays many people just went to shops for example of clothes or of any digital device (smartphone of Computer), ask various questions and at the end, they just make a lame excuse to cover the fact of wasting time of shopkeeper which really make them (shopkeeper) angry.

I recently have an experience of this, i actually went to another city for buying a 2nd hand phone and i almost spent 7 hours in the market, for the first 2 hours i was thinking, shopkeeper will tell me many things about device and will convince me to buy it but, "NO" they were like don't give a *** about a client, they were like you are also a time waster (hahaha) i don't know i should laugh on it or be angry about it, well when i came to know that, i adopted the same behavior as others were adopting and the 2nd day i went again and bought one.

Well as per your query, there are many ways to increase profits, such as;

• Talk nicely and ask nicely, For example, when someone comes to buy something, ask him for water (i know that's not how deals are done in bigger cities but in my area, this happens). Ask them to sit (politely), your good behavior will encourage the customer to come again.
• Show them some discounts because this will encourage customers to come again
• If your store is not online then its a big mistake even if you have a small shop you must use third-party websites for example, Daraz and OLX (only in my region, seek yours), this will your product reach thus more customer will be there and according to your formula "More customers equals more profit"

Further ideas can be suggested but that depends on your niche.

[Crypto Library]

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

[Iadegbola34]

I completely agree that customer relations are crucial for any business and treating them like royalty can result in loyal customers who not only keep coming back but also recommend your business to others, which ultimately leads to increased profit. Your idea of having a season of rewards and discounts is also very effective in increasing sales and profit. I appreciate your willingness to share your knowledge and would love to hear more from you or other forum members on this topic.

[Distinctin]

Building good customer connections is an efficient method to enhance earnings. You may boost client loyalty and attract new consumers by treating them like kings. Furthermore, even after deducting the cost of the incentives, delivering awards and discounts during a certain season can assist raise sales and profits. Stocking a variety of brands of items may help boost sales by giving buyers a larger choices to pick from.

If you can’t build a good relationship with the customers, surely they will never come back, no customers, no profits at all. That’s why if we can make them feel that customers are always respected and they’re always right, then they will always stick to us and will continue to patronize our products. Discounts and promotions are just additional ways to boost profits, and of course having a lot of varieties to sell, makes your business an all in one shop which will offer more convenience and advantage on part of the consumers.

[Fivestar4everMVP]

That's a very good tip from the op, knowing how to treat and attend to customers i believe is one of the major ways to grow a business really fast, this is because, customers are the best marketers, promoters of any business, the power to make a business really big, or to destroy the business is in their hands, this is why every business owner out there must treat their customers well..

As a business owner, if you like, advertise your business on the television and radio station, have your products pasted in every billboard in town, if every customers that have patronized you are not happy with your service or way of treatment, and will not come back to patronize you again, be rest assured that business will collapse in the long run, except something changes before then.

[serveria.com]

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

customer is king and should be treated like a royalty.

Not always. There are some "toxic" customers and time-wasters who come to your shop without intention to buy anything. You will lose your time and efforts to sell but the deal is impossible as they were not even considering buying anything initially.

Stock different brands of the products that you sell.

Sometimes this works against you too. If you sell items of one or few specific brands, you have your own loyal customers, easier to control stock, do accounting, buy items etc. This saves a vast amount of time and work. The more time and energy you have, the more you can achieve.

Think about it.

[tjtonmoy]

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

Take less profit per product but sell more. That way, you will make more profit in the long run. If you focus on making more profit in a short time, you will lose all your customers. When people see that you are charging them less than others, they will come back to you. But make sure to keep your profits as well. And people like to browse things when they go to any store. It's not about bran or quality, it's about how you display them to your customers. You can keep items in an order so that they can choose what they need and also which is somewhat necessary with that component. People come to stores to buy one item in their mind, but if you can manage to organize your items in that order, then they will pick more than what they require. It's all about mind game. But you need to make them think that they are the one making that decision.
Also if there's competition on which products you sell, be sure to keep premium items and brands that are not available in that area. People will choose them without knowing. Spread your business where those products aren't available widely.

[Kasabus]

Prosperity in a business depends on an entrepreneur. If he has long planned to expand his business then he will surely get success. It is important to remember that the business you are serving may be done by others as well ‍. You have to find where your difference from them? Why will consumers come to you? What are your facilities that others cannot offer? etc. To provide more benefits which can be a strategy to grow your business. But if one can maintain customer relationship along with all these facilities then surely those customers will not go anywhere else. As a result, your business will expand further and you can increase your profit.

It’s very crucial that we should give highly consideration to the satisfaction of the customers, otherwise they will look for it in other shops or stores. If we can put them as our priority, then they will appreciate and will continue to support our business in return. Furthermore, having discounts and promos will be a huge help too. Customers are easily tempted to buy more when prices are discounted or items are greatly bundled by some other usable products. That way, they will buy more, that will bring more profits to our business.

[uneng]

That's a very good tip from the op, knowing how to treat and attend to customers i believe is one of the major ways to grow a business really fast, this is because, customers are the best marketers, promoters of any business, the power to make a business really big, or to destroy the business is in their hands, this is why every business owner out there must treat their customers well..

As a business owner, if you like, advertise your business on the television and radio station, have your products pasted in every billboard in town, if every customers that have patronized you are not happy with your service or way of treatment, and will not come back to patronize you again, be rest assured that business will collapse in the long run, except something changes before then.

That is how a business build its reputation: treating their customers like kings, so they will share the word about the business with everyone around them and will surely come back for more. Of course that is not the sole reason which takes the business to the next level, because there is also the quality aspect of the goods and services offered by the house which is taken into consideration by customers.

In my opinion these two factors are equally essential for the success and increasement of its profitability. If you have one, but don't have the other, I fear the business is fated to failure and bankruptcy...

[Desmong]

One if the ways to increase profits in business is for us to make sure that we work with the right people that will inspire us to how to make our business more successful. We need to read books and also understand the nature of the business we are doing so that we can always get on the right track. There are people that might have done the kind of business we are doing so it will be wise for us to ask questions from them.

[Unbunplease]

To increase profits in business, you need a competent team, the use of modern technology, diversification, and optimization of accounting. It is also necessary to constantly take courses to improve qualifications. And most importantly, it is necessary to optimize costs, taking into account the current taxation.

[Newlifebtc]

One if the ways to increase profits in business is for us to make sure that we work with the right people that will inspire us to how to make our business more successful. We need to read books and also understand the nature of the business we are doing so that we can always get on the right track. There are people that might have done the kind of business we are doing so it will be wise for us to ask questions from them.

Increasing your profit for a business that you are doing can only be achieved when you know exactly what you are doing by making a research for that business so we can't making a return and the following people who knows more than you or who knows better than you or that business I don't think that there is any way that you can make a profit for such investment investment comes with reference