Quote from: Rockstarguy on Today at 07:39:55 PM

Quote from: cryptomaniac_xxx on May 05, 2023, 08:36:37 PM

Quote from: Kelward on May 05, 2023, 01:43:31 PM

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

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

I guess it's boils down to good customer service and then promotions and marketing as you have said. Yeah, you need to offer variety of items. For example if you are in the shoe business, then you should have at least full sizes of the shoes that you are selling.

So talk to your customer, get feedback so that you can improved. They are the life line of your business, so obviously, you have to treat them very well. I also have online store that born out of the pandemic, and if I may add about the negatives though, there are competitors out there that wanted your business to be destroy so just be careful on who you deal with as well, just saying. Because as much as you are customer centric and giving rewards and discounts, sooner or later they will give you bad feedback because the people that ordered from your is from your competitor.

I think in business good customer service matters a lot. The way customers are been treated will determine if they will come back to personalize your business or not. Customers always go to a place where they are treated nicely, this is one of the factors that helps in the growth in business. Availability of different varieties of goods helps in the growth of business because it gives customers confidence whenever they come to get stuff they will definitely get what they come for.

One of the things that scares customers away in business is high price of things, for a business to grow well the price of things needs to be in the actual amount that their won't be lose be lose in the price and their won't be too much gain due to the high price. Customers service and a fair price will always capture the presence of customers, these are the factors that will really help small businesses to grow in a small space of time.

Customer service
Good price rate
Pleasing venue
Good staffs
Proper management incoming outgoing transactions