more moneyIncreasing the amount of money in your bank account doesn’t always have to be hard work. You can put in place any number of the following strategies and tactics within a month. Some of them will take a short time to do, you can do others overnight at little or no cost to your business.


1. Increase Prices

  • A 10% increase across the board. For most businesses this is nothing. A $50 per hour rate becomes $55 per hour. It’s not a massive increase to your customers. If your business is turning over $2.0 million each year – that’s an increase of $200,000 a year.  That’s an extra $16,700 per month you could be enjoying from tomorrow by making a 1 minute decision.

2. Increase Profitability

  • Do a Profit Model Review and adjust some of the key variables (price, sales, expenses etc.). You’ll discover the impact these changes would make.
  • Complete a Revenue Activity Review. Find out which revenue activity gives you most of your profit and which ones are losing you money.
  • Reduce expenses. Audit and challenge each expense (Why do we have it? Does it add value?).

3. Increase Sales Conversion Rate

  • Train yourself and your team in Sales. Ensure you’re always building your knowledge.
  • If you don’t have a clear Sales Process, develop one and put it in place.
  • Create sales scripts (phone, face-to-face) and any other sales aids required in your new Sales Process.
  • Record and report on sales weekly using a Sales Activity KPI Sheet..

4. Increase Average Sales Amount

  • Make sure you’ve defined your ideal target market. Who they are, what they do/act like, what’s their challenge, where will you find them etc.
  • Define your USP and market positioning.
  • Develop a checklist of add-ons for each type of sale and offer these to your customers at sale time. This can take advantage of cross-sell opportunities.
  • Up-sell – Offer or recommend the premium product first.

5. Increase Leads and Repeat Business

  • Make sure you’ve got a database and keep it updated. Capture contact details and relevant information of all your business relationships.
  • Keep in touch with your contacts – special offers, seasonal campaigns etc.
  • Ask for referrals. Who do your existing customers/suppliers know that may be able to use your services/products.


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