8 Ways To Turn Customers Into More Profit
You don't necessarily need more customers. You might need a better business. Let's start with an uncomfortable truth: Having customers doesn't mean you have a profitable business. You can have a full calendar, hundreds of orders, a growing social media following, people recommending your services, and customers walking through your doors every week and still struggle to pay yourself what you're worth. Sound familiar? Here's the problem: Many business owners celebrate revenue while ignoring profitability. They celebrate the number of sales, but don't calculate what each sale actually earns. They chase new customers while neglecting existing ones. They offer discounts to stay competitive, spend money on marketing without measuring returns, and confuse being busy with being successful. π Revenue makes your business look successful. Profitability determines whether it can survive. According to McKinsey's pricing research, a 1% increase in price can translate ...