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get more sales from existing customers - Guide My Growth

8 Strategies to get more sales from existing customers

As a business coach, one of the questions I get asked a lot is, How can I increase my sales? The businesses that ask me this are usually focused on finding ways to attract new customers. But in fact, it makes more sense to master strategies to get more sales from existing customers. Attracting new

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Your Most Profitable Customers make your business grow faster - Guide My Growth

Your Most Profitable Customers make your business grow faster

Many businesses don’t know who their Most Profitable Customers (MPCs) are. That is a problem, because the Most Profitable Customers are the foundation of any successful business. They are also the best way to achieve faster business growth. Why? Your Most Profitable Customers bring in most of your profits About 80% of your sales comes

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Streamline business operations for higher sales - Guide My Growth

Streamlined business operations lead to higher sales

A good way to increase sales is to make your business more productive and streamline areas that are wasting time and money. Can your business afford software that can automate processes? If yes, consider automation of tasks like data entry, staff scheduling, inventory management system, etc. Start by looking for solutions that can replace manual

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common business models service businesses - guide my growth

Most common business models for service businesses

What is a business model? A business model explains how a business makes money. For a retail store, the business model consists of selling physical products to the customer either through the brick-and-mortar store or through online channels. For a service business, the business model consists of creating and providing value to customers by selling

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strategies to increase profits for a service business - guide my growth

5 strategies to increase profits for a service business

I have worked with several clients who have asked me to share strategies to increase profits for a service business. These clients are service businesses that provide a range of professional services including in IT, international trade, marketing, training, consulting, and high-end design. But some of them are struggling to find ways to increase their

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Improve retail profits with these 5 strategies

Improve retail profits with these 5 little-used strategies

Many retailers in emerging economies or developing countries struggle to get good profit margins because customers have low purchasing power. Or because there are many competitors trying to attract the same customers. I have spoken many times about the importance of targeting a specific kind of customer and the importance of distinguishing yourself from your

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operational strategies for higher retail profit margins - guide my growth

10 operational strategies that lead to higher retail profit margins

A good profit margin for retail is 10-15%. Yet, many retailers struggle to achieve this. In this article, I will share 10 innovative and inexpensive operational strategies that result in higher retail profit margins. 1. Increase the perceived value of your products When customers believe that what you are selling is more valuable than what

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strategies to increase profits in retail

9 Strategies to increase profits in retail

If you are a small or medium-sized retailer in Africa or South Asia (or in any other developing or emerging economy), you face unique challenges when it comes to increasing profits. However, you can set your business on a path to sustained success by using the right strategies to increase profits in retail. Unique challenges

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what is good profit margin for retail - guide my growth

What is a good profit margin for retail?

What is a good profit margin for retail businesses? It is important to understand what constitutes a good profit margin for retail because it helps you understand how your business is doing compared to other retailers. The profit margin is the percentage of revenue that a business retains as profit after deducting all expenses. A

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stop your business losing money - guide my growth

9 strategies to stop your business losing money

Is your business operating at a loss? Every business owner has times when their business is not doing as well as they would like to see. This is normal. It is also why you have financial reserves. But if your business keeps losing money, that is not normal. If that happens to you, you need

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double profits in next 12 months - guide my growth

12 ways to double profits in the next 12 months

Small and medium-sized enterprises (SMEs) in developing and emerging economies often face unique challenges when trying to grow their profits. However, using the right practical and operational strategies, you can find ways to double profits in the next 12 months. Here are 12 strategies that you can use to achieve this goal: 1. Know all

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