This article is for you. If you own your own business, especially a small business. If you are a commissioned salesman. If you are self employed. All these have one thing in common. There are only 3 basic ways to make more money. Use any or all of them from the next steps.
The first way to increase the money you make is to find more clients. Get out and be proactive. It is tempting to spend time doing other things when business slows down, but get moving now. Network with other people . Build your web site. Send out more targeted advertising. Contact past clients and customers. Simply put you need to create more business.
The second way to increase your earning power is make more money per transaction. You can do this by lowering costs. Negotiate a better deal on what you buy to resale. Lower overhead without losing business. Lease out unused space. Sell old stock or extra items to raise capitol to advertise. Sell add on items. If you sell cell phones then sell phone cases or related services. If you sell Harley Davidson Motorcycles then sell more chrome or a jacket to each customer. Sell tours and bike trips. Find ways to fill other needs your current customers have and increase your cash flow.
The third step is to sell to your same people more often. Create a frequent customer program to bring them in more often. Promote sales or new items to the data base you already have. If you don’t have a data base then create one. Get clients email or phone numbers with permission to contact them. When it is slow call them with a good offer. Turn once a month sales into once a week sales. Add value.
In this market we should focus on all three methods and stay with what works. Brainstorm on each of these steps and think how they apply to your personal income. What can you do that will bring in more money today. Join me. Opt out of the recession.