Three strategies to make this year more profitable
Forbes contributor Louis Mosca has shared three ways to make 2018 your most profitable year ever.
Mosca says, “Start by reevaluating the successes and failures of 2017, determining what worked and what didn’t throughout that year. Next, document your goals for 2018 including milestones for profits, cash flow, and business goals, and then consider the following four areas of immediately actionable, profit-generating strategies:
- Raise Your Prices (A little bit won’t hurt anyone!)Break your clients up into A and B categories. A-Clients are your best clients, and the ones who are reliable and consistently shop with you. B-Clients, on the other hand, are your more difficult group, and the ones who require the most out of your attention and efforts. Raise the prices of your A-Clients by 1%, and your B-Clients by 2%. Not only does this tactic easily increase cash flow, it does so without any extra efforts, resources, or costs on your end, and will make a minimal impact on these clients”.
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