Post
Topic
Board Economics
Re: How to increase profit in business
by
summonerrk
on 03/07/2023, 17:37:03 UTC
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.


Definitely, the client should feel maximum comfort if you provide some services or sell goods. By the way, the Turks are great at it, when I was in Istanbul, they sold great: politely and with humor.

I had a business selling paintings. I drew and sold them, but a year ago the site where I sold paintings ended its existence. But I remember that it was the best feeling: when a client came to me for paintings on my page. And wrote me a message. And I didn't have to force myself to be polite or not sincere. I felt that I loved each of my customers, and I naturally managed to be a great and polite seller. Because if you love your job, then you will be like that.