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Boost profits

3 More Questions to Boost Your Profits

Once you’ve answered the first four questions to become more profitable, consider three more to boost your business:

How often do you talk with your clients, not selling, but getting feedback?

Many business owners routinely think about selling new clients instead of nourishing the accounts they already have. Existing accounts can often be the best and most profitable for everyone involved because the relationships are already in place and relationships keep clients.

When is the last time you contact your existing clients to ask questions? The ideas they give you will create new designs to offer to other clientele, allowing you to expand your product line.

Who selects the products and services you offer your clients?

Selecting products to resell is an art, and it is not always the salesperson who is the best buyer as they often look at profit margins rather than considering the true appeal the item has to the buying public.

How do you decide what you are going to add to your offering?

You only have so much room to showcase your products, so use it wisely to increase your profits for expansion. Where are you going to locate what goes in your four walls—not just what you like, but what will help your business grow and fulfill client expectations?

—Stephen Capper, A-1 Awards