How to increase profit in business

[Smack That Ace]

The main method of businessmen in their businesses is that they always give a discount to their cutomers, and sometimes they give a mega discount when their products have been in stock for a long time in their business or cannot be sold.

   Or it is also possible that they are having raffles for their customers who also have conditions to have a raffle ticket. If you look at it, it looks like the business is losing with their gimmick and their customers are winning, but the truth is they are still winning.

Showcases, used goods… are always offered at big discounts, it's really a strategy to attract customers, a lot of the big local stores where I'm using this strategy, and I would love to buy these products too. We can both save costs and get a quality product that is not inferior to a new product.

But what about new products? In general, there are many strategies to attract customers as well as bring revenue to the store. But out of all those factors, I think business owners should still focus on customer service. It should be a top priority.

[ancafe]

In my opinion, to increase profits in business, we must be brave to spend capital, many people want their business to grow but they don't want to spend capital, for example replacing production machines that are no longer effective, improving marketing strategies and so on.

To run a capital business is a must, while replacement of production machines and marketing strategies are included in maintenance costs and other costs outside of the initial capital when you build a business, these are costs that have been prepared in advance as an effort to promote and maintain machine needs. OP talked about patterns of increasing profits in business by using certain methods and strategies, so that buyers feel at home and return to shopping because of the good service and bonuses provided.

Another way to take advantage of promotion through social media and influencers, this method is believed to be very useful at this time where influencers have a big influence on social media because they have quite a lot of followers on all their social media. Utilizing sales platforms on social media is also quite useful, where buyers don't have to come directly to the store and don't spend time, so they can shop using only their smartphones at home and this is also an effective idea.

[newdevices]

The main method of businessmen in their businesses is that they always give a discount to their cutomers, and sometimes they give a mega discount when their products have been in stock for a long time in their business or cannot be sold.

   Or it is also possible that they are having raffles for their customers who also have conditions to have a raffle ticket. If you look at it, it looks like the business is losing with their gimmick and their customers are winning, but the truth is they are still winning.

Showcases, used goods… are always offered at big discounts, it's really a strategy to attract customers, a lot of the big local stores where I'm using this strategy, and I would love to buy these products too. We can both save costs and get a quality product that is not inferior to a new product.

But what about new products? In general, there are many strategies to attract customers as well as bring revenue to the store. But out of all those factors, I think business owners should still focus on customer service. It should be a top priority.

When customer service is satisfactory, it is likely that consumers will turn into regular customers,
getting regular customers is not easy,
business owners need to design the right strategy and basically all of that needs a process.

[Sterbens]

When customer service is satisfactory, it is likely that consumers will turn into regular customers,
getting regular customers is not easy,
business owners need to design the right strategy and basically all of that needs a process.

True, in a business you really need marketing techniques to be able to optimize the promotion of goods or services owned by the company. This is one powerful way to increase a profit in sales. I myself am part of the marketing team of a company in the field of snacks, according to resets and experience, while I was working, public speaking and marketing techniques are number one when you want to increase sales. I always apply the three S  when I'm at work, namely Polite, Greet, and smile, and understanding customer needs and most of these methods have succeeded in making customers comfortable when in dialogue.

[Kelward]

...///...,,,,

More customers equals more profit.

...

You have to be careful with that premise, more clients* more income, in any case I think that your vision is very limited to small businesses, and basically face-to-face, today you can make money offline and online at the same time. That in fact is already a consideration no matter what area you are in, if you have only one you should be or have a presence in one of the two, the incorporation will bring new clients and perhaps income.

(*) Businesses are complicated depending on which area is related, a friend who increased his clients in your transport company,  saw how costs increased and not profits.

The routes grew and he had to increase costs for new trucks and associated personnel, the growth of customers meant an increase in expenses that he could control but fortunately it took a couple of years to have associated profits.

The phrase 'more customers equals more profit', is working for me in my business. But as you have  explained, it's maybe because i run a small business, however it works for me. I take note about what you said about your friend in transportation business, it sometimes happen that in the cause of increasing your business, instead of profit to increase costs will increase. Sometimes businesses like his needs long term planing before the profits starts to pour in, just like it happened in his case. But all things being equal, either in the short or long term, with proper planing, the more customers that patronise your business the more profits you make

[Mario Yamasaki]

I think there are many things we can do to increase profits in business, if we still use human labor in production, we can take advantage of robot technology that can replace human labor, I work in a food company and almost all work is done automatically from selecting raw materials to packaging .

[coinerer]

I think there are many things we can do to increase profits in business, if we still use human labor in production, we can take advantage of robot technology that can replace human labor, I work in a food company and almost all work is done automatically from selecting raw materials to packaging .

It is only natural that such robotic and machinery facilities will exist in the digital world. and in future days, the use of robots and artificial intelligence will increase in business. so if a company starts taking this advantage now then they can be in a much better position in the days to come. therefore, if a company wants to thrive in business, it must use advanced technology and adopt a strategy that is completely different from other projects. then it is possible to sit well in the market leaving behind other projects in the competitive market

[barisbilgili]

I think there are many things we can do to increase profits in business, if we still use human labor in production, we can take advantage of robot technology that can replace human labor, I work in a food company and almost all work is done automatically from selecting raw materials to packaging .

It is only natural that such robotic and machinery facilities will exist in the digital world. and in future days, the use of robots and artificial intelligence will increase in business. so if a company starts taking this advantage now then they can be in a much better position in the days to come. therefore, if a company wants to thrive in business, it must use advanced technology and adopt a strategy that is completely different from other projects. then it is possible to sit well in the market leaving behind other projects in the competitive market

this applies to certain companies which will really help if they use robots, of course it's a thing that will be very profitable for the company both in terms of time and possible payment, a technological sophistication must always be followed with the times to make it easier and also profitable.
Regardless of the pros and cons of using robots, there's nothing wrong with the company, I think it's a natural thing.

[Hamza2424]

There are few things you can do and it's universal in every field of Bussnies whether it's physical goods trade or digital trading. Just be consistent (Stick to your work). Remember it's not at all possible to play in profit always, but if you are sticking to it your Bussnies will not only recover your loss even though you'll make a decent profit from it and I am damn sure from that amount you'll be satisfied.

For example; Consider the Shiping Bussnies in the physical world, Ships (Water tankers, etc) are very expensive we all know but running them is even more costly as an average per if a Ship (Standard Cargo ship) is Running in Sea it cost around $25k to $35k each day and if Business is down and Ship is on Port or Dry dock it still cost you around  $70k to $120k each month and Ship owner bear this cost for months in Boom season they make $25k to $55k or even more per day. The ship for average I have taken is a Cargo Oil Tanker ship around 30M wide and 170+ meters long.

They make such good profits because they stick to their work and bear losses as well.

[Gulttam2a2]

There is always risk in business. If we want to do business first we need to fix business idea and plan. The success or failure of a business depends on the actions of the individual. Provide what the customer wants to buy in order to succeed in business. There are many businessmen who want to sell a product to the customer but the businessmen don't want to understand what the customer wants so the business will not succeed.The success of a business depends on how much people will accept its product. If you want to grow your business, you need to innovate some products.  In this you can determine the income of your business. Always look for ways to cut costs. In business you always have to focus on income rather than expenses. There are some influencers that affect your business.You can also expect customer growth from your customers.You need to acquire knowledge in product sales, marketing and other activities. You need to test on your product so that you understand the needs of your customers so that you can profit from the business. I speak from my experience that you can profit or improve your business if you do it this way.

[fuguebtc]

I think there are many things we can do to increase profits in business, if we still use human labor in production, we can take advantage of robot technology that can replace human labor, I work in a food company and almost all work is done automatically from selecting raw materials to packaging .

It is only natural that such robotic and machinery facilities will exist in the digital world. and in future days, the use of robots and artificial intelligence will increase in business. so if a company starts taking this advantage now then they can be in a much better position in the days to come. therefore, if a company wants to thrive in business, it must use advanced technology and adopt a strategy that is completely different from other projects. then it is possible to sit well in the market leaving behind other projects in the competitive market

The use of robots and AI in business or other professions is almost inevitable, although it is causing concerns in the labor market. But now, they are not widely available so I don't see any benefit in increasing business profits, I mean, you will have to spend more money to be able to use new technologies for your business. And that will make your company's product cost higher than the competition. Adopting those new technologies to businesses can take a long time, as new technologies still cost more than hiring workers.

[19Nov16]

I think there are many things we can do to increase profits in business, if we still use human labor in production, we can take advantage of robot technology that can replace human labor, I work in a food company and almost all work is done automatically from selecting raw materials to packaging .

It is only natural that such robotic and machinery facilities will exist in the digital world. and in future days, the use of robots and artificial intelligence will increase in business. so if a company starts taking this advantage now then they can be in a much better position in the days to come. therefore, if a company wants to thrive in business, it must use advanced technology and adopt a strategy that is completely different from other projects. then it is possible to sit well in the market leaving behind other projects in the competitive market

Technology is of course needed for production efficiency and all economic activities, small things for example is the use of tractors for agriculture, of course eliminating the hoe, this is what makes us have to be ready and use the latest technology to be able to carry out efficiency in business from the production process to being in a shop or accepted by consumers.

[Smack That Ace]

The main method of businessmen in their businesses is that they always give a discount to their cutomers, and sometimes they give a mega discount when their products have been in stock for a long time in their business or cannot be sold.

   Or it is also possible that they are having raffles for their customers who also have conditions to have a raffle ticket. If you look at it, it looks like the business is losing with their gimmick and their customers are winning, but the truth is they are still winning.

Showcases, used goods… are always offered at big discounts, it's really a strategy to attract customers, a lot of the big local stores where I'm using this strategy, and I would love to buy these products too. We can both save costs and get a quality product that is not inferior to a new product.

But what about new products? In general, there are many strategies to attract customers as well as bring revenue to the store. But out of all those factors, I think business owners should still focus on customer service. It should be a top priority.

When customer service is satisfactory, it is likely that consumers will turn into regular customers,
getting regular customers is not easy,
business owners need to design the right strategy and basically all of that needs a process.

It is not as difficult as you think, as long as you focus on investing in the customer service of your business meticulously and carefully, creating a regular customer base is easy. Customer care before and after the purchase is very important, but not so you just focus on it and ignore other services. In short, to be able to increase the profit of the store, businesses need a lot of factors, and we need to add and edit depending on the case of each business.

[Sayeds56]

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

Thanks for sharing your valuable experience to increase profit in business. Your strategies to offer discounts, rewards and stocking diverse brands of goods are certainly effective and produce good results. Additionally, focus on operation efficiency to reduce cost, trains your team  to identify opportunities for up-selling and cross selling as well as invest in marketing and advertising your products and services, which will potentially boost your sale revenue and ultimately result in increased profit.

[Kadal Ijo]

I think the easiest way to increase profits is to increase production and sales capacity, if we have production results with sales that look better and are often short of stock then it's time to add employees to production, this will automatically increase sales in the market.

[ringgo96]

I think the easiest way to increase profits is to increase production and sales capacity, if we have production results with sales that look better and are often short of stock then it's time to add employees to production, this will automatically increase sales in the market.

At present all companies already have sufficient employees for all the purposes they carry out, but to increase profits I think the products they issue must have a difference that can attract use among the public, and we also have to make a special offer so that buyers can enjoy our products so that we will have more and more customers and the profits we get will of course also increase, and at this time we can see very many large companies that always have special offers that can be accepted by the public.

[xSkylarx]

The main method of businessmen in their businesses is that they always give a discount to their cutomers, and sometimes they give a mega discount when their products have been in stock for a long time in their business or cannot be sold.

   Or it is also possible that they are having raffles for their customers who also have conditions to have a raffle ticket. If you look at it, it looks like the business is losing with their gimmick and their customers are winning, but the truth is they are still winning.

Showcases, used goods… are always offered at big discounts, it's really a strategy to attract customers, a lot of the big local stores where I'm using this strategy, and I would love to buy these products too. We can both save costs and get a quality product that is not inferior to a new product.

But what about new products? In general, there are many strategies to attract customers as well as bring revenue to the store. But out of all those factors, I think business owners should still focus on customer service. It should be a top priority.

When customer service is satisfactory, it is likely that consumers will turn into regular customers,
getting regular customers is not easy,
business owners need to design the right strategy and basically all of that needs a process.

 
It is not as difficult as you think; as long as you focus on investing in the customer service of your business meticulously and carefully, creating a regular customer base is easy. Customer care before and after the purchase is very important, but not so important that you just focus on it and ignore other services. In short, to be able to increase the profit of the store, businesses need a lot of factors, and we need to add and edit depending on the case of each business.

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.

[superman184]

Technology is of course needed for production efficiency and all economic activities, small things for example is the use of tractors for agriculture, of course eliminating the hoe, this is what makes us have to be ready and use the latest technology to be able to carry out efficiency in business from the production process to being in a shop or accepted by consumers.

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.

[Sayeds56]

At present all companies already have sufficient employees for all the purposes they carry out, but to increase profits I think the products they issue must have a difference that can attract use among the public, and we also have to make a special offer so that buyers can enjoy our products so that we will have more and more customers and the profits we get will of course also increase, and at this time we can see very many large companies that always have special offers that can be accepted by the public.

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.

[S A KHAIR]

One effective approach could be to focus on providing better quality of products/services at competitive price.

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.