The Secret To Making More Money

The Secret To Making More Money

Do you feel like every dime you make gets sucked into a​ black hole to​ pay bills and leaves you asking yourself,​ “Where did all the​ money go?” Want to​ know an​ age old secret?

You have to​ make the​ money before you can spend it!

How do you do that? It’s called INCOME PLANNING. Here are some steps you can do every week to​ make more money.

RESEARCH YOUR MARKET – First,​ find out what products or​ services your customers want and then provide that. One way to​ find out what they want is​ to​ look over your sales receipts,​ and find out what product is​ selling the​ best. Ask the​ customers 1) why they bought the​ item,​ and 2) what they expected it​ to​ do for them. Now use what they said in​ your advertising to​ promote that product.

PROMOTE to​ YOUR MARKET – There is​ an​ art to​ promoting something so that it​ will be responded to​ by your customers. Promotion does not necessarily mean offering a​ discount. It’s more important to​ find out why a​ customer wants or​ needs what you have to​ offer,​ and what they will base their buying decision on. Price may not be as​ important as​ fast delivery and dependable service.

Find inexpensive,​ but effective ways to​ promote. Collect business cards from potential customers,​ and send them a​ personal letter letting them know how your products/services can benefit them. it​ is​ one of​ the​ least expensive,​ most personal promotional actions you can do. a​ series of​ postcards mailed at​ regular intervals to​ current and potential customers can also be very effective.

Another great way to​ get new business is​ to​ ask your satisfied customers for referrals. You can make it​ fun for your customers to​ participate by creating a​ referral game they can play,​ where they get something in​ return for a​ certain number of​ referrals who buy. Let your customers help you out. They really do want you to​ do well in​ your business.

SELL AND DELIVER - Selling is​ easier when you are genuinely interested in​ your customers and want to​ help them. ASK your customers what they need and want. Then it​ becomes much easier to​ sell them that product or​ service. For example,​ a​ family of​ 4 who wants a​ van to​ cart the​ kids and their equipment around to​ sports activities is​ going to​ walk off in​ disgust if​ the​ salesperson is​ showing them 2-door sports models,​ despite the​ fact that the​ sports car is​ a​ good deal.

Once you’ve sold the​ product or​ service,​ fast,​ courteous,​ professional delivery is​ key to​ customer satisfaction. This is​ especially important if​ you are in​ a​ service business. Delivering what you promised,​ when you promised it,​ can mean repeat business and referrals for new business.

PREVENT the​ WASTE of​ RESOURCES - For every dollar you agree to​ spend in​ your business,​ ask how it​ is​ going to​ bring $5 or​ more worth of​ income back into your business. Carve out a​ percentage of​ the​ income every week to​ fund a​ promotional budget and then figure out the​ most effective ways to​ reach your customers within the​ budget. it​ is​ no laughing matter when the​ income you worked hard to​ earn gets wasted on​ things that do not give you a​ return on​ your investment.

REPEAT SUCCESSFUL PROMOTIONAL ACTIONS – Look back at​ when you were last making the​ most sales. Find out what your successful actions were at​ the​ time and do those actions again.

Focus your time,​ energy,​ and creative thinking power on​ planning how to​ get the​ money in. That gets the​ CASH FLOWing in​ the​ right direction and puts your attention back on​ servicing your customers and you will enjoy your business even more.

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