Richard Branson once said that an entrepreneur who cannot increase the efficiency of a company by even 5% will not be able to achieve much success. Even if the company is at the peak of its opportunities, it is still possible to increase revenues.
Instructions
Step 1
Increase the productivity of workers and equipment. In the first case, you can use the theory of motivation (external and internal approach). For example, you can praise an accountant for a great report and give a bonus to whoever closes the most deals in a month. In the second case, improvements are due to modernization and quality service.
Step 2
Focus your actions on the things that really matter. Very often employees are working on the wrong tasks, which are really priorities. For example, filling out various pieces of paper can take several hours a day. Optimize this issue, set clear goals for employees and try to adhere to similar rules yourself.
Step 3
Start building an audience for your business yourself. If before that you used mainly other people's sites (for example, advertising on billboards), then start generating them yourself. For example, you can create a website on the Internet and use it to attract new customers. You can also publish a magazine in your niche.
Step 4
Use customer testimonials. If you have not used this technology before, then try to implement it as soon as possible. After completing any transaction, invite the person to leave a review. It doesn't matter whether it is positive or negative. In any case, you will know in which direction you will develop. Therefore, negative reviews are even preferable.
Step 5
Start partnering with competitors. As strange as it may sound, they can help you increase your profits. Let's say two taxi firms operate in different areas of the city. The client called from the area where you do not work - just discard the order to competitors for a part of the profit. This practice allows for a good reduction in average costs and an increase in total income.
Step 6
Retain old customers. It is believed that getting a repeat purchase from an old customer costs 6 times less than attracting a new one. Accordingly, you must do everything for people to come back to you again and again. Offer various discounts, bonuses and other programs. Remind them by SMS and email that a new item has arrived.
Step 7
Continuously monitor and improve ad performance. If you do not know the numbers, then very soon this event can become unprofitable. Let's say advertising on TV brings 0.05 clients per thousand rubles, and posting ads 2 clients per thousand rubles. It is better to maximize the second method, and only then resort to the first.
