Increase Profit Software Designed For Increasing Profits for Business and in turn Business Value.

Every business owner would like to ‘ Increase Profit‘ and I often get asked by small business owners ‘How do I grow my business?’ and ‘How do I increase business value?’

Normally increased profits go hand-in-hand with higher business value, as a more profitable business becomes much more desirable. However, before a company can begin increasing profits the owners need to identify how they are going to do it.

With this in mind Bowraven’s Profit Increase Software is designed to identify ways to bring in extra revenues, increase profit margins and to extract additional revenues from existing customers, instead of what most businesses do, which is to focus on getting new customers.

Understanding the ’7 Ways to Grow a Business’ and on knowing how to identify Key Performance Indicators (KPI’s) are the keys to business success. When you invest in Profit Increase Software the accompanying book explains the 7-ways to grow any business and will help you to understand Key Performance Indicators, which are measures commonly used to help an organisation define and evaluate how successful it is.

Business is about investing and getting a return on that investment. Any business that has invested in and used Increase Profit Software has had that investment returned in multiples of hundreds, but more likely by thousand’s of per cent. Increase Profit Software identifies the areas of profit improvement and targets the 7 Ways to Grow Your Business.

Once these have been identified you can focus on how to increase profits and on KPI Measurement and then on KPI performance. Increase Profit Software is designed to identify the areas of your business that are sensitive to adjustment and hence key to growing your business and its profitability. Increased profits combined with excellent cash flow will in turn increase cash in the bank.

Most business owners think that the only way to make more profit is to increase client numbers!

Well let me explain to you that this is not always the case and in a well thought out change you can actually achieve higher profits in your business with fewer clients. With fewer clients you can make your business more efficient too and if you go through this process you can then re-think about expanding your business in a different way. Look at this as resetting the foundation of your business in order to rebuild and grow it in the right direction. As with anything, a solid foundation is essential for a strong and stable structure.

A few years back in one of my businesses I made the decision to triple (yes that’s right triple) my prices on one of my services. At the same time I modified and improved the service for the clients. I took a gamble on the basis that not all of my clients using this service would leave. I calculated that if I lost around 20-30% of these clients I would be left with a lower number of clients paying me more money and have a business being more profitable.

Let me tell you that this gambled paid off, yes of course some clients complained bitterly and some clients left, but not as many as you would think nor as many as I thought would leave, in fact around 10% of clients left in the end. What is interesting to note is that in those clients that decided to leave were the ones that were the less profitable ones and the ones that gave us more hassle.

The great thing is, as a result of my actions I was making more money, on this side of my business, for less work and less hassle! So a win, win situation!

A lower number of clients require less work and also less administration and therefore less staff to deal with the underlying process. The impact of this is that you make more money from the product or service line itself and the business has lower overheads, leading to yet more increases in profits.

If you decide to do something like this in your business, and especially in the present economic climate, be careful and think it through very carefully. In my business I had a few service lines so this helped to spread the risk. I don’t think I would have done this to all my services at once, as this would quite clearly be too risky. So if your business has more than one product or service line, and you want to try something like this, I suggest that you try it with one product or service at a time.

Also, if you do try this out, make sure that you are giving a very good customer service and that the product or service you are selling is an excellent product or service. I would also add that where there is high competition in the market you serve then this is less likely to work and would present a higher risk.

As noted above, once you have trimmed your business and made it more efficient and profitable, you can then look at attracting more clients and growing it by attracting more clients of the type you want.

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Business development involves a number of techniques designed to create and grow a business, however, there are many small businesses that are so bogged down in fire fighting and caught up in running their business that business development is the last this on their minds.

Increase profits and the 6 ways to grow a business software is a good way to start this process off. Using this software can help to identify ways you can increase your profits and without necessarily having to increase your prices!

I know that most business owners are very price sensitive, as can customers be too, it is important to identify other business development opportunities that are in your business.

One thing that most business owners forget is that their most important asset is their customer base. Many companies spend thousands of pounds or dollars on attracting new business and forget that they already have exisitng customers that could be sold to with other product lines or services.

I was amazed the other day, I use Tiscali for my broadband at home and noticed that they were offering some good deals to attract new customers. I telephoned to see if I could go on to one of these deals (and I was not necessarily asking for the introductory cheap first six months) but the price that these deals revert to after that. I could not beleive what I heard when the phone operator told me that these prices are for new customers only!! I asked her, surely you should be looking after your existing customers so they stay with you, but this was completely lost on her!

I did in the end get a good deal by threatening to leave if I did not get a good deal, which to my way of thinking is not good for business, if customers have to act in this way to get the same deal as new customers.

In short the message that I am putting across is for business owners to really value their exisitng customers and not only to provide a good services, but also to look for new services or products to sell to them. From a marketing perspective it is much much easier to sell to an exisitng customer, than it is to sell to a new one. The reason for this is simple, so long as a customer is happy with your present customer service, they already trust your business.

Business development is an on-going process and looking at the 6 ways to grow your business is just a small part of this process.