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10 Proven Ways To Multiply Your Profits

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ProfitsProfits are very important for any business, particularly a start-up.

Profits are the financial returns or rewards that entrepreneurs aim to achieve to reflect the risk that they take.

Given that most entrepreneurs invest in order to make a return, the profits earned by a business can be used to measure the success of that investment.

Profits are also important signals to other providers of finance to a business. Banks, suppliers and other lenders are more likely to provide finance to a business that can demonstrate that it makes some profits (or is very likely to do so in the near future) and that it can pay debts as they fall due.

Profits are also an important source of finance for a business. Profits earned which are kept in the business (i.e. not distributed to the owners via dividends or other payments) are known as retained profits.

Retained profits are an important source of finance for any business, but especially start-up or small businesses. The moment a product is sold for more than it cost to produce, then some profits are earned which can be reinvested.

Profits can be measured and calculated. So here is the formula:

PROFITS = TOTAL SALES less TOTAL COSTS

Here are the 10 Proven Ways To Multiply Your Profits:

1. Make copies of your web site in many different languages. This will allow foreign speaking people to read your web site and advertisements, that’s extra profits.

2. Give your customers a surprise bonus for buying. When you give customers more than they expect, there is a good chance they will buy from you again, this could double your profits.

3. Send greeting cards offline or online to customers on holidays. You will get the chance to increase your orders, and profits, by including your ad inside the card.

4. Market your products or services to your target audience. For example, don’t try to sell a football in a cooking magazine, you will save on marketing cost, therefore increase your profits.

5. Give people the option of buying other products or add on products when they decide to buy your main product or service at the point of sale … equals more profits.

6. Think of new ways to attract people to buy your products or services. You could add on extra free bonuses, delivery options, payments options, etc .., in other words give them a chance to increase your profits.

7. Give other businesses the option of selling your product. It could be a simple joint venture deal or an affiliate/associate program. You have to share your profits if you want to multiply your profits.

8. Follow-up regularly with all your prospects and current customers. When people see your ad more than once they are more likely to buy … ;)

9. Learn sales ideas from reading and studying other business’ advertising and marketing material. It could be ads, brochures, tv ads, sales letters, etc.

10. Educate yourself with new strategies to increase your sales. You could take classes, subscribe to e-zines and magazines, read books or ebooks, etc. This will definitely add some extra profits to your business.

To your success!
John Fagalde
Editorial Manager

P.S. To subscribe to all future posts, click HERE :)

To multiply his profits, John uses:

All in One SEO Pack Pro version


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