If you are ready to grow your business, make sure you understand the 4 types of business growth strategies. SMEs often tell me they want to grow their business when in fact, what they are saying is that they want to stop losing money. If the challenge you are facing…

Reducing prices is not a sustainable business strategy. Businesses traditionally use lower prices to attract more customers. Through annual sales, holiday and seasonal discounts, when sales are slow, or as a strategy to win business from competitors. The problem with reducing prices is that it is not a sustainable business…

Because better control over your business equals more money for you A good profit margin for retail is 10–15%. Yet, many retailers struggle to achieve this. In this article, I will share 10 innovative and inexpensive operational strategies that result in higher retail profit margins. 1. Increase the perceived value of your products When customers believe that what…

Any retailer can start implementing these today If you are a small or medium-sized retailer in Africa or South Asia (or in any other developing or emerging economy), you face unique challenges when it comes to increasing profits. …

Anything under 5% is usually considered bad. What is a good profit margin for retail businesses? It is important to understand what constitutes a good profit margin for retail because it helps you understand how your business is doing compared to other retailers. The profit margin is the percentage of…

Turn things around and become a winner in business Is your business operating at a loss? Every business owner has times when their business is not doing as well as they would like to see. This is normal. It is also why you have financial reserves. But if your business…

Start now to enjoy the results 1 year from today Small and medium-sized enterprises (SMEs) in developing and emerging economies often face unique challenges when trying to grow their profits. However, using the right practical and operational strategies, you can find ways to double profits in the next 12 months…

Many farmers and agribusinesses struggle to become profitable and remain small. Unneccessarily. As a small or medium agribusiness or farmer, you play a critical role in meeting the demand for food by linking smallholder producers to national markets. You also have the potential to help create jobs for millions of…

It all adds up. Profit margins are a key metric for businesses all across the world, but they can be especially important for those operating in developing and emerging markets. This is because you do business while dealing with unique challenges, such as lower purchasing power and less developed infrastructure…