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From the category archives: Blog

Profit Improver Strategies

Consistency is key to exceptional business results

Consistency doesn’t mean being the best at something or providing the highest quality, it means providing predictable, reliable results to the customer or client every time you do business with them.

Improving Customer Traffic Flow

The layout of your retail store determines the way that traffic (customers) flows through your establishment. The better you understand retail store traffic, the more effective your store layout will be.

Export Market Development Grants Scheme

The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters.
The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters.

Increase the Average Transaction Size

Increasing the average transaction size will increase sales revenue. For example, a 20% increase in average transaction size will result in a 20% increase in total sales revenue.

Raise Your Prices 10%

Raising your selling prices will increase sales when your product or service has an inelastic demand curve i.e. when you raise prices and there is minimal or no change in volume sold.

Lower Your Prices by 10%

Lowering your selling prices will be a profitable strategy if lower prices produce greater gross profits due to increased sales volume even though profit per unit has fallen.

Upselling

Upselling is more successful when the up sellers know more about the individual customer and understands what the customer values and wants.

Calculate the True Value of a Customer

By calculating the true value of a customer, or potential customer, it places a value on the total sales and profits generated by the customer over their lifetime with the business. 

Operate Your Business from Home

Operating your business from home is an option if you predominantly work at client premises, deal with clients predominantly over the phone & internet, or need a small office.

Relocate to Smaller Premises

Reducing space usage and relocating to smaller premises will reduce rent costs (where the new premises have a similar cost per metre as the current premises). 
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