7 Ways To Grow Your Profits!

I’ve been doing some thinking lately about my business and my expertise in strategy.

The question that guides me: “What does success look like?”

In thinking through strategy, the outcome of a successful strategy is generating more profit.

How do you go about that?

There is more than one way.

I’ve put together 7 to get you started.

1. Cut costs/Become more efficient: Pretty straight forward.
2. Enter new markets: Take your product or service to new territories.
3. Raise your prices: Underpricing is an issue in a lot of places.
4. Better targeting: Sometimes you aren’t focusing on the right customers or prospects.
5. Grow your market share: Sometimes you’ve fallen into a rut of “we have enough business”.
6. Strengthen your brand: This can give you pricing power and help create a preference for your business.
7. Differentiate yourself: Don’t be a “me too” brand/product/service. Be unique for your customers.

As an action step, which one can you focus on starting tomorrow?

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