Better Business Means More Money (Part 4)

A businessman always wishes to do his best to enhance his business so that he is able to earn better. Some more suggestions are given below for your kind consideration.

1. Cut overhead costs.

If at all possible, keep the overhead costs as low as you can. Spending too much on things like fuel, office supplies, and long distance calls can cut into your overall profit. Think about ways to save money while still being able to get the job done efficiently. Some businesses will spend way too much money on frivolous things or go all out on a business meeting only to realize they really did not have that extra cash to spend.
2. Use every difficult event as a new opportunity.
When things start to get frustrating, instead of considering them a hurdle, think of them as a new opportunity. It’s easy to get suckered into a state of depression or frustration when things are not at their best, but try to use those times to learn so you can better the business as a whole. Do not forget to thank your customers as well. Thanking customers shows you appreciate their business, and makes them want to stay loyal.
3. Each lead is an opportunity.

Remember to follow up with every lead you generate, whether it is a small, individual customer or a large account. If you ignore your leads, you will miss out on sales and new opportunities. Come up with ways to organize your leads so you can keep track of them as well as contact methods and dates of follow up.
4. Color is your friend.
Think about the color scheme of your website, and do a bit of experimentation. Change up the background color, text color, and other colors on the site. Then, do some tests and see how people are responding. Color actually has a big impact on peoples’ perceptions and how they view things, so keep that in mind when developing your website.
5. Make life easy for your customers.
Make sure your website is easy to navigate, and that things are easy to find. If people can’t find what they’re looking for within the first couple of minutes, odds are they will move on to another website. By revamping and making your site simple to use, you’re doing yourself and your customers a huge favor.
6. Shopping should not be a chore, but should be an enjoyable experience.
Pick out an excellent cart software program that is easy for consumers to understand and use. But the cart should go above and beyond this, and should also have extra features like showing a small photo of their item in the upper area of the website, along with pricing and ongoing price totals. Finding and implementing a great shopping cart will really make a difference for a lot of people in choosing your business over someone else’s.
7. Reward your customers.
They will reward you. Points programs, rewards cards, and other types of similar programs will entice people to become return customers. When consumers are offered something for their purchases, they will usually spend more. Think up some creative ways to offer your customers freebies with a purchase or some kind of rewards program that allows them to accumulate “bucks” or points for a free item. Come up with some unusual and fun ways to promote it and watch your profits rise.
8. Live feeds keep people abreast of the goings on in your business.
Give people the option of subscribing to live feeds or RSS updates if they wish. That way, whenever you post updates, people will get them immediately. Sometimes people do not check their email accounts as often as they are online, but with a live feed, they can see instantly if there is a sale, promotion, or other exciting happening within your company and make a decision to purchase.
9. Up-sell if possible.

When people come to the website to make a purchase, it’s always good to try to up-sell them with either a larger size or additional products, depending on the circumstances. Create a pop up or a new page that will entice customers to want to buy a companion product, multiple products, or a larger size of whatever it is you’re offering.
10. Endorsements are awesome.
While it might seem like a pipe dream to find a celebrity or someone famous to endorse your business, it is possible. Do a little bit of homework and try to sell your business’ idea or products to mass media markets. Once they get a hold of it, follow up with them and find out if any of their clients like what you’re selling. If so, you might be able to drum up a famous face to give a testimonial or tell the world they like your company and your products.
11. Mission statements and philosophies guide the way.
As a business owner, it’s almost a must to have a mission statement written that everyone involved with your company should live by. Think about what you want your company to be, your goals, and your ethical stance. Then, develop a mission statement that identifies who you are as a company. Keep this business philosophy in mind, and apply it to everything you do. This helps to ensure that everyone is on the same page and that you’re staying true to your principles.
12. There is no such thing as bad press.
Use PR to your advantage and try to get as much free advertising as possible. Whether it’s local magazines, newspapers, or mailings, try to expose your business to as many people locally and nationally as possible. Public relations advertising in any format is positive.
13. Research and compile.

Do as much research as possible on the following things: what is your customer base comprised of, what do those customers look for and want in a product or company, what do your competitors use to make them successful, and other aspects. Make notes on your findings, and compile data if possible. Then, use this research to your advantage to key in on the things you can improve upon or change.
14. Nothing stays the same.
Remember, in business and in technology, nothing remains the same, and things are constantly updating. This goes for your website, your products, your contact methods, and the way you advertise. As things change, you should be changing with them so you’re not left behind. Look at trends and pay careful attention to what is working for other companies.
15. Define your benefits as clearly as possible.
Don’t just say your business is open 24 hours a day; say it’s open 24 hours a day, so that the customer can get moving and continue on with their day. By adding a little bit extra explanation, you’re more clearly defining the benefit of your products or services.
We may consider the above. In the next post, some more suggestions may follow.
Be Happy – Better Business Means More Money.