Home
>
Top Quick Tips
>
Increase Business Profits - Ten Ways

Increase Business Profits - Ten Ways

How do you increase business profits? Answer the following questions carefully, and you'll have a good start.

1. Can you increase the average sale? A restaurant with 25% profit margins might make 50% on additional sales to existing customers (less labor to bag one large order than two smaller ones). Asking "What would you like to drink with that?" works, and it's just a start.

2. What's the least expensive way to get a customer? Before you spend another thousand dollars advertising to get new customers, could you get as much business by spending a few hours contacting previous or existing customers?

3. What low risk ideas can you try? I once sent a letter to several visiting basketball teams, inviting them to visit our restaurant, and giving the coach a free meal as an incentive. The cost? Two dollars. The pay off was two busloads of customers. At that rate, you could increase your business profits even if nine out of ten ideas fail.

4. Have you tested prices? I knew a store that sold a product for a $1.05, that cost them $1.00. At a price of $1.20, it is doubtful that they'd lose half their sales, but if they did, they'd still make twice the profit. Some things even sell better at a higher price. Test.

5. Can you measure your advertising results? How do you know that you're not spending more for a customer than they're worth? Coupons, customer surveys and other methods of measurement are a must.

6. How do you know your customers are satisfied? The worst restaurant meal we ever ate went down without a comment, but we never returned to that restaurant. Maybe the owner should be talking to the customers.

7. Can you enhance the percieved value of your product? Years ago, I sold walking sticks for $10 at flea markets, and $20 at craft shows. Sometimes location alone can enhance the percieved value of a product. What else can you do?

8. What are similar businesses doing? See what your successful competitors are doing. Can you do the same?

9. What other products can you sell? There's a reason stores have candy and magazines near the checkout. Extra sales are a great way to increase business profits.

10. Can you use your customers as salesmen? Word of mouth is a start, but what other ways can you get your customers to bring their friends to you?

These were culled from a longer list. I call it "stolen business ideas," because I can't credit the original authors. I took them where I found them over the years, with grattitude, but without notes.

Steve Gillman has been studying every aspect of money for thirty years. You can find more interesting and useful information on his website; http://www.everythingaboutmoney.info

move out cleaning service Lake Forest ..

In The News:

A third-party dental marketing agency's unsecured database exposed millions of patient profiles with personal information that could be exploited for identity theft and insurance fraud.

New York-based Aircela unveils refrigerator-size device that converts air and water into fossil-free gasoline, with initial deployments planned for 2025.

Your home address is easily accessible on people finder sites, putting you at risk for stalking and identity theft, but data removal services can help protect your personal information.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Robot combat evolves at Unitree's Iron Fist King event as G1 robots face off in China, featuring knockouts, precise strikes and agile machines that can perform side flips.

Take control of your digital privacy with actionable tips like Facebook privacy checkup, location tracking management and data removal services to protect your personal information.

Smart TVs and streaming devices manufactured in China are being compromised by BadBox 2.0 malware before users even power them on; infections have been detected in 222 countries.

The lightweight, 15-pound Tenniix tennis robot mimics pro playing styles like Nadal and Federer, using AI trained on 8,000 hours of professional tennis data.

Oak Ridge's uranium enrichment facility supports America's AI ambitions amid concerns that China's aggressive nuclear reactor construction could give it an edge in powering data centers.

Facebook scam ads now leverage AI and deepfakes to create convincing celebrity endorsements, targeting specific demographics with sophisticated schemes.

Apple unveils iOS 26, macOS 26 Tahoe and iPadOS 26 with translucent Liquid Glass design at WWDC 2025, featuring ChatGPT integration as competitors advance rapidly.

The Atom Touch prosthetic arm combines an AI neural interface with EMG sensors, allowing amputees to control individual fingers with precision at an affordable $25,000.

Aspen officials aim to have crews on the scene within five minutes — something they say would be nearly impossible without precise location data the AI technology gives.

Tech expert Kurt “CyberGuy" Knutsson says iPads are usually secure, but hackers can access them. Spot warning signs early to protect your data.

Tech expert Kurt Knutsson reveals how to easily move photos and videos off your iPhone or Android to securely protect your favorite moments.

The Social Security Administration is launching digital SSN access this summer. Tech expert Kurt “CyberGuy" Knutsson helps you learn how to use it and protect your identity.

Glide underwater with CudaJet and make the ocean your playground. Kurt “CyberGuy" Knutsson discusses the redesigned tech that might be your next big thrilling adventure.

Protect yourself from login alert scams with five security steps, including avoiding suspicious links, checking account activity and enabling two-factor authentication

Skip the usual Father's Day gifts with personalized ideas for tech enthusiasts, home brewers, pool owners, seniors, outdoor lovers and privacy-conscious dads.

DMV text scam alert: Fraudsters impersonating motor vehicle departments nationwide are sending threatening messages about unpaid tickets and tolls to steal your information.

Fox News' AI Newsletter brings you the latest on this rapidly evolving technology.

E-BAR, MIT's mobile robot, provides physical support for seniors with handlebars that follow from behind, helping prevent falls while maintaining dignity for aging adults.

AI is changing everything – now, we can even use it to generate video. I tried OpenAI's Sora and Google's Veo – here's how they measure up against each other.

Five simple phone setting tweaks that make your device work harder for you, from automatic text message deletion to scheduled focus modes.

Android users can save time with 10 simple automations, including automatic battery saver mode, location-based Wi-Fi settings and scheduled "Do Not Disturb" mode.

Increase Business Profits - Ten Ways

Top Quick Tips