5 proven ways to increase company revenue
5 ways to increase company profits
There are a great many ways to raise company revenue.
Go to the Internet, browse through any business magazine, turn on the TV on the RBC channel and see for yourself.
Successful entrepreneurs, business consultants and financial “gurus” hand out tips to increase business profitability left and right …
However, in practice, most of these tips:
Narrowly specialized. It means that they are suitable for one company, but they do not bring any result to another.
Too blurred. They have no specifics, and therefore it is not possible to apply such advice in practice.
Useless. These include tips from the category of “How to triple income in one month sitting on the couch.”
As a result, the head, trying to use one of these tips, spends time, effort and money, but does not achieve success. Ultimately, he uses proven methods to influence profits from his own arsenal.
Today I invite you to look into MY personal arsenal and learn about 5 universal and effective ways to increase profits that I personally use.
Do not regard them as a “magic pill” for income growth. However, these methods have consistently worked for 8 years, both in our company and in many companies of our clients.
I think it will be useful for you to find out what these methods are and if you are not missing them.
1. Do not save on promotion
The first thing I would like to draw your attention to is promotion.
No matter how much you want to save, first of all the funds are spent on promotion. Get money from the “banks” and let it go.
I can say from my own experience that as soon as income is low, my primary desire is to put an end to all expenses, as they say, to tighten my belts.
But I know for sure that only an outgoing flow creates an incoming flow, therefore at such moments money is invested only in advertising and promotion.
Analyze all expenses, discard unnecessary and invest money in promotion. It works.
2. Promote right
When it comes to advertising and promotion, it is important to do it right.
Surely your company has products or services that bring the most revenue / margin. That they should be promoted in the first place!
Make a list of all sources of income for your company. Look at those sources that are most profitable for you. Take a look at how you promoted them earlier.
Now think about how you could increase their progress.
No new advancement should be allowed to crowd out successful actions. What needs to be done is to strengthen successful actions, promote them again, and not promote something new.
If you have a beauty salon, and the most profitable and popular service with you is a manicure, then apply advertising promoting exactly that. If you have retail and wholesale, but the lion’s share of income is brought by wholesale, then you need to strengthen the promotion there. It is necessary to promote what brings income.
Another key point is that you need to advance no matter what.
Not quality, but the size of the outgoing determines the gross income of the company.
If now it is not possible to run ads on the radio or in a glossy magazine, hand out black and white leaflets printed on an office printer! The quantity is important!
3. Train your salespeople.
In order to increase the efficiency of your salespeople, and therefore the income of the company, you need to regularly conduct daily trainings and train them.
Remember yourself, for example, in the exam. You did not know the answer to a question and thought: “If only this is not the question! If only not he!”
So are the sellers, if they are not sure about something, if they find it difficult to talk about something, if they find it difficult to answer questions, they thereby demonstrate their unwillingness to sell!
Therefore, you need to regularly train managers to answer the most “terrible” questions.
4. Hold staff meetings
Someone might think that this is a waste of time, and this hour is better to devote work. However, for me it is a good opportunity to charge my employees and give them confirmation of their work this week.
This is what weekly meetings give:
Employees always know how things are going in the company. The whole company aims to achieve results in the new week;
Company executives take greater responsibility for their areas and work more efficiently;
Employees share their experiences in solving work problems. Understand that there are no intractable situations, and can cope with any of them.
As a result, every week you will see employees charged with achieving the goal, increasing their effectiveness and increasing the company’s income.
Want to learn how to hold meetings? Then read the detailed instructions here.
5. Pay attention to the appearance of staff and premises.
The next thing I want to draw your attention to is the appearance of the staff and the premises.
There is no quicker way to lower the level of income and the goodwill of the public than to have dirty rooms and sloppy staff.