Business Profits
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Transcript of Business Profits
Profitability
• Building a profitable business is challenging
• When you succeed you are in the top 1% of business owners.– Most fail in the first five years– The rest make it but barely
• Our goal --- a system to help business owners
Build Your Money Tree
• In our first video – we talked about the TOP PRIORITY new business leads
• Develop YOUR system – that works – every day!!
• In our second video – we talked about MORE CUSTOMERS
• In our third video – we talked about MORE SALES
• And NOW….
Strategy #4: Higher Prices
• Most business owners hesitate to increase their prices…
• Increasing prices – leads to increased revenue
Double YOUR Pricing??
• Did you know you can double your sales volume by doubling your price?
• I’ve done it myself, and I’ll show you how.
Pricing Strategies
• Did you also know that 99% of the products I see being sold are too cheap.
• So much so, that they’re putting customers off instead of attracting them
• (which is no doubt what they think they’re NOT doing).
Price is NOT How People Make Buying Decisions• Many Entrepreneurs believe that people
buy based on price• But the reality is that people buy based on
a number of other factors
Premium Products
• When you have a premium product/service you need to charge a premium price for it.
• People perceive that the value is not there if the product is priced too low.
Fear Gets in Your Way
• Too many people are scared to price their products or services for what they feel they are truly worth….
• Don’t let FEAR stop you!
Provide Choices
• Give people options – More services for higher priced program or
product– More value– Have an upsell option and a downsell
option!!
Always REWARD Your Customers• Never forget your clients or customers• Create ways to reward them for their
business and loyalty• Do not reward new customers and leave
your current customers feeling left out.