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#1
12-09-2009, 10:29 AM
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Only Five Percent.
The basic reason for running a business on the internet is to make money without all the hassle of running a high street store with all the expenses that go with it. That does not mean that it is going to be easy. No one is going to know you exist unless you tell them
And keep on telling them. You don’t have a shop window for people to look in to see what you are offering for sale. You want more traffic? You want more customers? You want more profit? How do you go about getting it? So. You are up and running and making sales. Perhaps you have got to the point where you are making a profit. Now you need to boost your sales to make it all worth while. There are a number of things you can do. Nothing spectacular. A twist here and a nudge there may be all that is required. This is one method that works. You may not be able to implement every part of it but it has been known to increase profits by as much as 40% for some of my clients. Below is a short list of things you can do to boost your bottom line. Add them all together and you could increase your profits by as much as 50% overall. 1) Increase the price of your products by 5%. Offer them at a figure that ends in the number seven. It is a fact that a price of $9.97 will generally sell more products than $8.99. It sounds stupid but it works. 2) Increase the number of products you have on offer by at least 5%. It could get you 5% more customers who may buy 5% more. 3) Get 5% more people to buy more than one product at a time. For instance: Buy product ‘A’ and get ‘B’ at a reduced price 4) Could you reduce your operating costs by 5%? Only you can answer this one. Most businesses can shave off a little here and a bit more there if only they put their minds to it. 5) Set about attracting 5% more visitors to your website. There are so many ways of advertising on the internet that there must surely be some method that you have not tried. 6) Contact your list of previous buyers 5% more often. It is a proven fact that it is easier to sell to a previously satisfied customer than to someone who does not know you. 7) Send out your newsletter 5% more often. If you send out a newsletter once a week, that is 52 times a year. Is it beyond your capabilities to send out an extra special email two to three times a year with a one off offer that cannot be obtained from anywhere else. 8) Increase your advertising budget by 5%. What proportion of your income do you set aside for advertising? Could you afford to increase it by as little 5%? Would it be enough to start advertising in a different media. I am sure you have been looking at other ways of advertising but it would require perhaps 5% more of your time. Would it be worth it to get 5% more sales? 9) Sell 5/% more items outside of the internet. Goods were being sold long before the internet was invented. Place small ad’s for your products in your local newspaper with your auto-responder address or your own email address to receive the replies. Place a card on the notice board in your local supermarket and at your newsagent. 10) This is the special one. This is the one that you thought up on your own. It is the one that is going to make all the difference. It’s going to give you at least another 5% of profit in a way that no one else is doing. This is the one that is going to give you the edge over your competitors. You could end up very rich. It’s up to you. Get started now and prove to yourself that you have got what it takes to be a smart business person. Always keep at the back of you mind that running a business should be fun. If you are not enjoying yourself you have not yet got everything quite right . The real fun is reading your bank statement at the end of every month and noting that everything is written in black ink. Not a spot of red in sight. 
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