Profit Generation Made Easy

Most entrepreneurs get into business to make money

While the reality for most business owners is they only do sales to generate turn over

With close to no profits in the their business

And that is precisely what Ameet Parekh will discuss in today’s session

How to generate Profits inn your business easily

Starting a business and getting customers is not really the most hard part of building and running business

The hardest role for a business owner is to keep your business profitable

It is extremely important to prioritize profitability in your business otherwise it’s like ride a Motor bike which has a leaking fuel tank..

So let’s look at some of the ways to create profitability in our business

Method #1) Be Proactive in Marketing

So many business owners I know give in to their customer’s demands and negotiations just to ensure flow of money

Majority of business face the challenge or lowering their margins because they go down to their customer’s needs and request

The most effective way to protect your margins is to become consistent in marketing

Because the role of marketing is to create pipeline of prospects who are interested in your product or services

And having this pipeline means having the control of driving the business on your terms and margins

So to increase your profitability, become proactive in marketing

Method #2) Set a MVP Price

The customer will always negotiate

But where most entrepreneurs go wrong is they do not set a MVP (maximum value preposition) which is your absolute best price point to offer to your customer

Below this you should not enter any deal.

So, Whenever you go for a sales pitch first pitch an offer price or retail price and then during negotiations close down at the MVP.

Method #3)Look for New Product/Service/Markets

Here is how working or researching on new products or services or marketing can help you..

if you research your customers desire, need, problems and pain points.

You can develop solutions in the form of product or services

And 2 things can happen:

#1) You can attract new customers for these product or services

#2) You can upsell to your existing customers and making more revenue per customer and profits

Method #4)Creating a Financial MIS

There is a rule in business

Data doesn’t lie

And I cannot emphasis enough the set a reporting system to track every penny that moves in your business

It does not matter what nature of business you have

Doesn’t matter what product or service you sell

Doesn’t matter which segment of market you sell

Keeping a track of data is absolutely important to save money

Having a financial MIS can save you money and not having can be the biggest reason you are losing money.

You must have a proper measurement system for tracking your expense, your profit per sale, profit per client or project

Not having this data means you’re playing the game of business blindly

So make sure you track each and everything

So that you can track what is working for your business and giving you high return on efforts

So these are 4 ways you can work on increasing your profits easily

Hope this helps

Cheers and browse Ameet parekh’s reviews for more information.