If you run a business, there are times when it’s slow and you don’t know how you’re going to get through the month. You’re working furiously to keep it afloat.

But even with all the hours you pour in, you’re struggling to make ends meet. Is it something you’re doing wrong? Or… is it something out of your control, like inflation and change in purchasing power.

Truth be told, it could be a thousand different things. Rather than focusing on that, why not focus on solutions that will help you solve the problem?

As they say, money can solve most problems. If we can get the money right, everything else will follow from that.

So, with that said, let’s look at different ways how you can squeeze a bit more profit out of your business.

Sell More Products to Your Existing Customers

What about your recent customers, have you got a lot of those? If you do — wheee-ouuueu! You can sell more stuff to them!

As every good salesman knows, it’s easier to sell to previous customers than it is to new ones.

But how does one go about doing this?

Well, you could make a list of everyone who’s bought from you this year and hit them up with an offer. It could be done through email, phone, or text message.

All you have to do is tell them about the sale and what they need to do to make a purchase.

It is an easy method to put in place and does not require a long implementation time. Many entrepreneurs prefer this way since it’s the easiest, quickest method around.

It’s easier to sell to previous customers than it is to new ones.

Add New Products to Your Lineup

As the headline says, ‘’Add new products to your lineup’’! Think about what your customers would want, think about their needs and desires.

Make it your aim to extend your product range!

When you add a product here and there, it adds up and makes a huge difference at the end of the month.

To accomplish that, you may need to invest in a piece of new equipment and machinery. It could get pricey, but it’s well worth it in the long run.

Plus, having a bigger selection of products means that the customer can get what they want.

Having a bigger selection of products means that the customer can get what they want. It means more profit for you.

Upsell, Downsell & Cross-sell

But, there’s another way to squeeze a bit more profit out of your business. Can you guess what it might be? When I say the words upsell, downsell, and cross-sell, does it mean anything to you?

But of course, it does, you’re one of the smart ones!

If you need reminding, these are classic methods of persuading customers to spend more money so you can make more profit.

Let’s go over each method one at a time.

Upsell – is a sales technique of selling the customer additional items or pricier items than what they originally intended, like, upgrades, or add-ons for example.

Downsell – is a sales technique you bring out when customers back out of the originally intended purchase, so you offer less expensive items instead.

Cross-Sell – is a sales technique that encourages a customer to purchase a product that’s related and or supplementary to what they’ve eyed already.

Final Thoughts

Hopefully, this article gives you some good information you could use to bring more money in and make more profit. As you came to learn, if you want things to be better, you must begin doing things differently.

And sometimes… the best ideas are right under your nose, so do not discount the ideas that come within yourself.

But, while you’re waiting for the right idea, you can start with what we’ve just discussed in this article.

I wish you the best of luck in trying to improve your business.

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