10 Commandments For Increasing Profits In Your Business

TOP 10 Commandments For Increasing Profits In Your Online Business

Whether you’re a seasoned online marketer looking for some direction and some STRONG reminders that can help you to RE-FOCUS on what is important for your business or you’re a complete newcomer just starting an online business here are what I like to call…

…My TOP 10 commandments for increasing PROFITS in your business.

I use these and READ them (sometimes out loud) every day to remind me of what is IMPORTANT to my online business success and allow me to stay on track and AVOID falling into the trap of becoming side tracked.

Having a set of RULES or strategies that you can follow from day to day in your business gives you a sense of enormous FOCUS and clarity and BOOSTS your daily productivity and allows you to work on things in your business that are most important like:

“Daily lead generation, making sales and seeing PROFITS from your overall online business sales funnel”.

What you first need to realize though is that you won’t be able to achieve sustainable financial profits in your business by simply saying that you’re going to just FOCUS on increasing PROFITS in your business.

That won’t WORK!

You need a plan, method and strategy that can be implemented simply and effectively every day in your business so that it can be measured, tweaked and fully OPTIMIZED for maximum effective growth.

This is done through variables and trying to improve them overtime so you can then look at your current levels of room for profits in your business and use these TOP 10 commandments to improve your bottom line week after week, month after month and then of course once 12 months has passed you can look back and measure on a yearly scale too.

Some of these TOP 10 business profits commandments will be very familiar to you but will act as a set of rules or allow you to get back on track when your business hits a bump or two in the road from time to time.

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Okay let’s begin:

  1. Daily Lead Generation – Notice how I said “Daily Lead Generation” rather than just “Lead Generation”. You must be attracting new interested and targeted prospects into your business on a daily basis.

This isn’t something you do once and then sit back and ponder upon. FRESH targeted leads are the “life-blood” of your business and if you can increase this from 10 leads to 15 leads per day for example, then you’ll be able to make more money from your business and increase your profits by 50% as shown in this example.

This one small increase can add $10,000’s to your business over any period of time depending on the volume of leads you add into your business and how well optimized your funnel is.

 

  1. Lead Conversion – This is where you’re looking to convert each lead that enters your business into a paying customer. You can measure the effectiveness of this through setting up what are also known as “sales funnels”.

You can double your sales at any time by increasing your sales from 10 out of 100 to let’s say 20 out of 100 for example. Now just imagine you’re adding MORE FRESH leads into your business and you’re now seeing better conversions too.

Developing your ability to turn targeted prospects into repeat paying customers is something that you MUST be focusing on improving all the time in your online business.

Keeping up with current trends and improving your sales skills all the time is vital for any business too whether it be both offline or online too.

An easy way to do this and to AVOID getting overwhelmed is to break down your sales funnel into a handful of key areas and look to improve each area one at a time.

Just improving each area a little bit overtime will have a HUGE IMPACT on your overall sales and profits in your online business.

3 MAIN WAYS TO INCREASE SALES

  • Increase your individual sales
  • Increase sales per customer that enters your business
  • Increase price per sale on every offer for every customer that goes through your sales funnel

 

  1. Number of sales – This is where you’re continuously aiming to increase the number of sales that are made for every new prospect that enters your business.

If you can increase this frequency by 20% for example then that will mean over the next 12 months you’ll be able to increase your yearly sales and profits by 20% too.

A great way to increase the number of sales per lead that enters your funnel is to research and ask your leads what their NEEDS & PROBLEMS are through the power of email marketing.

Adding fresh leads into an email database and asking them what their wants, needs & desires are is a great way to get ideas for what kind of products and services you could create that would sell more frequently per lead that enters your funnel.

 

  1. Increasing size of transactions – For every product and service that you create needs to be created in mind of how you could possibly up-sell each customer so that they continue to buy more products and services from you for every one product or service that you create.

 

  1. Increasing your profit margins – You can do this by looking to increase your profits on every sale that is made from your products and services you sell online.

You can do this by either increasing or decreasing your price points for each product and service you sell. Testing different price points is one of the main factors of increasing profit margins in any business.

Even decreasing the price can increase overall profit margins as you can ensure that you don’t decrease the quality of the product but at the same time ensure that extra sales are made in your online business.

So every time you increase the price by a dollar and your costs stay as they are then that goes towards contributing to your bottom line profits. And for every time you EVEN DECREASE your price of your products but increase conversions and decrease EXPENSES then you’re still managing to increase your overall bottom line profits over time.

 

  1. Cost per lead – This is the amount you pay for every new lead or prospect that enters your business. Again this is something that you must be looking to DRIVE as low as you can whilst trying to increase sales and profits per lead all at the same time.

You can drive these costs down by thinking outside the box and trying to stand out amongst your competitors. Breaking even or even making a profit as soon as someone enters your funnel is the “HOLY GRAIL” of running a sustainable and successful profitable business.

 

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  1. Customer testimonials & referrals – Gaining new customers through referrals of previous customers or having real testimonials displayed from satisfied customers on your sales pages is one of the most powerful ways to increase profits for your online business.

This is where your business will begin to make passive incomes by having a positive impact on the reputation of your products and services through referral systems you have in place and will naturally make your business more money without any additional costs required to advertise your business.

 

  1. Cutting loose the dead wood – Are there any expensive products and services that are holding you back from making more sales?

You may have more success by replacing that product with one that sells for less but has a greater conversion rate.

You’ll be able to look at your sales stats if you’re using good TRACKING SYSTEMS to tell whether discontinuing one product and replacing it with another could prove to be a wise business decision.

Could you combine some of the smaller sized products and services together and offer those as a package to your customers?

 

  1. Reducing the gap to BREAKING EVEN – Every business has EXPENSES so there will be a measurement where your business has to make a certain amount of sales to break even or at least make a profit.

For any amount of investment you put into paid advertising you’ll need to measure your numbers so you can gauge the effectiveness of that advertising campaign and improve any parts of that campaign to ensure maximum results are achieved.

You must look at every EXPENSE made in your business to increase profits as an investment and not a loss. Once you find that sweet spot where everything fits into place you can SCALE UP your numbers to unbelievable heights and take your business to a whole new level.

This is what I like to call “THE HOLY GRAIL” of Internet Marketing and once you know what works your BUYERS lists will begin to EXPLODE, your sales and profits will begin to increase alongside those numbers and you’ll then own a real business that acts like a 24/7 sales producing machine.

 

10. Increasing your prices – If you could increase your overall profits from one single product or service by just 10% what would you do?

In business there’s always ONE SINGLE THING or question that you could ask yourself of:

“What can I do in my business right now that will continue to increase the GROWTH of sales and profits month after month?”

Raising your prices by just 10% – 20% could make a HUGE difference to your overall sales and profits and could be met with no resistance from your prospects or future customers.

You can TEST this out yourself first to see if this strategy works for your products and services.

If you’re creating products and services that deliver on what they promise and are of great quality then just tweaking your price and increasing it by a small percentage will almost certainly not put anyone off buying them especially if you have a lot of great testimonials and social proof placed at your sales pages from previous customers who were only happy to leave them there.

 

Okay those are the 10 commandments you must continuously aim to improve in your business so you’ll make more money, grow your business and profits and build a solid business that will begin to contribute to your life’s financial success.

You only need to tweak each one and improve upon them ever so slightly and over time these little improvements will add up to a HUGE POSITIVE CHANGE to your online business and the profits it’ll make online.

 

The only thing left for me to say now is…

…GO AND TAKE MASSIVE ACTION!

 

Okay hope you enjoyed today’s training and hope to see you getting some FANTASTIC RESULTS from what you’ve learned here today!