A question I get asked a lot is – why aren’t I making any profit?
Even with all the challenges of running your own small business, there are some really simple steps you can take to help boost your bottom line. It’s also important to keep in mind that this is not just about increasing your sales and making the same or less profit you already were. It’s about increasing and improving your profit, so that when your sales increase, your profit increases too.
In this snackable episode I share some of the strategies I’ve used along the way, and also helped my clients implement, with really great results. The four main strategies we run through are niching or specialising (in both services and clients), reviewing and restructuring your pricing, hiring in order to scale and reviewing your expenses.
I also share some extra ideas on how to drive profitability including outsourcing and digital courses and e-products (including training videos and downloads like I’ve done).
If you’re looking to grow and improve your profit I hope these insights from my own personal experience are super helpful.
If you want some pointers around pricing, my free Pricing Calculator download is here to help.
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