• Skip to main content
  • Skip to footer
SBCA Chartered Accountants

SBCA Chartered Accountants

Chartered Accountants in Preston

Call Us Now 01772 204102

  • Facebook
  • LinkedIn
  • Twitter
  • Accountancy & Tax
  • Business Growth
  • Private Wealth
  • Who We Help
  • About
  • Our Team
  • Client Testimonials
  • Contact
  • Client Login

Interested in making more profit?

23rd April 2013 by Chris Bond

 We would guess, yes you are? But how?

 The problem with stagnant markets (i.e. verging on recessionary) is the amount of ‘talking down’ that goes on: don’t know about you but sales have taken a hammering, don’t get the support we need from the bank, and so on…

 We would like to offer you a different perspective.

Profit is the difference between your sales and costs, ipso facto if you are going to increase your profits, you need to impact the £ value of either variable. In this blog post we are going to concentrate on sales.

 There are three features of your sales that you need to examine:

  • Price – the amount you charge for your goods and services
  • Number of customers, and
  • Number of times your customers buy from you in a trading cycle.

 Price is straight forward, you can either leave them as they are or, increase or decrease the amount you charge. The same is true for numbers of customers and the frequency of their buying events with your business. What is interesting is the propaganda associated with price increases and the neglected area of sales frequency: getting your customers to buy more from you.

 For example it may be possible to increase your prices, reduce the number of your customers and still make more profit. To achieve this apparently, impossible and unlikely transformation, you will need to focus on cross-selling: how can you tempt customers back to buy from you twice a week instead of once a week? (Or per month or per quarter the principle is the same.)

 Perhaps you could consider offering a new product or service? If you increase prices and expect that you will lose customers, it’s likely that the majority of the customers you will lose are the ones that take up your time with complaints and never pay their bills on time? What is certain is that selling more to the customers who are loyal to your business will impact profit growth and likely out distance the negative impact of losing custom.

 It’s always more productive to sell to existing customers, they know you after all… The trick is to find something to tempt them to increase their buying visits?

 If you would like to discuss these issues in more detail and see how they could be employed to increase your business’s profitability, please call, any time.

Category iconUncategorized

Xero Gold Partners
ICAEW Chartered Accountants
Clear transparent pricing champions

Footer

Get Your Free Copy of Chris’s Book

Reflect Dream Do

Quick Links

  • Get in touch
  • Book Your Discovery Call
  • Client Testimonials
  • Blog
  • Meet Our Amazing Team
  • Work for us
  • Time. Money. Headspace.

Get Your Free Tax Planning Checklist

Business Tax Planning Checklist

Join The Preston Business Community

Preston Business Community

The Latest From Our Blog

Tax Time

Tax Time – Dates for May 2022

21st April 2022 By Chris Bond

THE UPS AND DOWNS OF SPRING STATEMENT 2022

The ups and downs of spring statement 2022

24th March 2022 By Chris Bond

Tax Time

Tax Time – Dates for April 2022

21st March 2022 By Chris Bond

Read more from the blog

We use telephone tracking numbers to link a user’s call to the marketing channel that they originated from. This is done using cookies, you can choose to decline cookies using your browser settings if you would prefer not to be tracked. We may record calls for training or monitoring purposes.

This firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.

Copyright © 2022 SBCA Chartered Accountants · Privacy Policy · Terms & Conditions · Site Design by Simply Smarter Marketing