Profit Improver Strategies - Blog

Increase the Average Transaction Size

8/20/2019 11:01 AM

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%

7/23/2019 12:37 PM

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%

6/18/2019 1:41 PM

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

5/21/2019 12:17 PM

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

4/2/2019 12:17 PM

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

3/5/2019 12:34 PM

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

1/7/2019 1:35 PM

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).

Sublease Part of the Premises

12/11/2018 12:08 PM

If you have unused space, subleasing part of your business premises to a third party is a great short-term strategy to reduce some of your fixed costs.

Ask for a Rent Reduction

11/15/2018 1:35 PM

This strategy involves asking the landlord for a rent reduction.

Blog

From the category archives: Blog

Increase the Average Transaction Size

Raise Your Prices 10%

Lower Your Prices by 10%

Upselling

Calculate the True Value of a Customer

Operate Your Business from Home

Relocate to Smaller Premises

Sublease Part of the Premises

Ask for a Rent Reduction

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