Are you always looking to build your bottom line? Here are some tips to keep your company profitable throughout the year.
-
Always have an advertising program in place.
Cutting your advertising budget means that your company is getting in front of fewer people and you will have less opportunities to sell your service.
-
Evaluate your employee pay scale.
Employees who are payed (paid or payed?) well for their skill will cause less problems and be the most efficient in their work. They take less of your time to manage while they complete jobs to the company standard.
-
Walk away.
Know when to say “no” when it comes to difficult customers. Nicely denying a change order that will cost you money is a smart business decision.
-
Ensure each sale is profitable.
Don’t cut the sale price on one job with hopes to make it up on the next one. Offer low monthly financing to entice your customer to complete the project at your asking price.
Your work has value and should be priced accordingly. Your profit comes down to the what your customer is willing to pay for your service. Using a consumer finance company to offer a monthly payment gives your customer an opportunity to see it as a low monthly payment instead of the whole project cost.
Read full article here.
