How Can Small Businesses Quickly Get Rid Of Losses?

Over the past few years, all enterprises have been more or less affected by the economic crisis. This is no secret.

Those who fail to keep abreast of changes will find themselves in a difficult position and more difficult to escape than others.

But the good news is that the timing of change is always there.

Unlike big companies, the advantage of being small businesses is that they can change direction quickly.

We can quickly redesign, improve and restore vitality.

So why not increase your profits without immediate effect?

Here are 5 simple ways to re create small businesses.

Hope to help some small and medium-sized enterprises to quickly separate.

1. change the way you provide products and services.

Listen to the needs of people.

For example, in a period of bad economic conditions, many people will exclude what they regard as luxury.

As a result, the demand for affordable luxury goods is increasing.

My own personal trainer wisely adapted to this situation. She changed her business model from the previous one to one training group, 5 to 10 people each time.

In this way, not only more people can afford her services, but also the coach can earn more money in less time.

And if she wants to charge a higher fee, she can still carry out one to one customer service.

Two

To put it simply, let more people buy your products or services.

Through advertising, marketing, public relations, and other promotional ways to expand their scope of influence.

You have no reason not to take advantage of the current cost free and low cost promotion methods, such as social media.

Let the satisfied customers and customers be the referees, and encourage them with gifts or even at the appropriate time.

If you have a product, try to get it into large distribution channels, such as warehousing stores and home TV shopping networks.

Through these channels, you can achieve significant sales growth in a short time.

Or completely change your target market, especially when you find that your previous target market can no longer afford the products or services you provide.

For example, one of my clients is an organization expert, and she soon realizes that her main customers, those personal customers, can't pay for her confusing life.

As a result, she completely changed direction and made business owners as their target market to help them rationalize their offices and operations so as to increase productivity and profits.

3. adjust or increase

One of my cadets was a wedding planner who started working with me 3 years ago.

At that time, she saw the advent of the recession and wisely predicted that the bride would cut back on expenditure.

At the same time, there will be more women than ever before, and wedding planning is a business opportunity. They show great interest in this.

So I encouraged her to set up courses and set up workshops to teach these women how to make wedding plans.

Just now, she wrote to tell me that her business has just broken through the million dollar mark, which is the third year after the establishment of the management policy.

All this happened at the time of economic recession.

I'm so happy.

4. increase average

Most companies raise prices by 10% every year.

Besides, think about how you can repackage your products or services.

My massage therapist did very well in this respect.

If I buy 10 massage sets at a time, I will get a free massage.

Therefore, I have a reasonable prepayment.

I can enjoy a free massage, and he can get a lot of cash in advance. He uses this money to meditate in Bali Island or do some other great things.

Another way to increase paction value is bundling or additional sales.

If customers who frequently purchase "A" service also benefit from the "B" service, they will give the customers who purchase two services at the same time a great discount.

For example, a lawyer who provides traditional testamentary services to customers can provide a discount package to the same customer, including the will / health instructions.

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5. create more repeat customers.

Try to get customers to buy your stuff more frequently.

One example is the membership system.

The customer promises to pay the membership fee every month, so as to ensure that the discount or special service that only members can enjoy.

For example, if a customer pays $50 a year, he can get preferential privileges for 500 rolls of toilet paper sets.

Some enterprises, especially consumer products enterprises, will provide automatic delivery service.

Customers sign an automatic delivery agreement and pay a certain discount if they pay by credit card.

A few years ago, I trained a couple of personal trainers, and a large part of their income came from the nutritional supplements and services they provided to customers, such as protein bars.

After knowing this, I immediately suggested that they should start promoting the automatic delivery plan.

Their frequent customers welcome this way of making monthly orders without their own hands, and the couple are satisfied with the higher income they get in advance.

These strategies are simple examples that most businesses can achieve.

Remember, you don't have to change your core business, but you need to make some adjustments and changes in your thinking, packaging, supply and sales.