Optimize Your Business Increase Profits

Posted by Mountain Business Consultant

August 23, 2008

One of the things I spend time doing is helping people optimize their businesses. In addition to writing content, newsletters, and related materials–I troubleshoot.

Small businesses make many mistakes but one that keeps rearing its ugly head is failing to optimize.

In some cases the presenting problem is disorganization, lack of imagination when it comes to inventory, but lately I keep seeing people failing to utilize the “no brainer” tie-ins that will bring in more revenue.

Several years ago I set up a program for a coffee house that increased their profit without a whole lot of work and with minimal (or no additional) capital outlay.

Two coffee houses locally fail to sell coffee beans or ground coffee. To me this is an oversight because it is a natural tie-in and sparks impulse purchases. They already have the product in inventory!

What does your business sell? Are there other items or services you can offer that can increase your profits?

One of the coffee houses is the local haunt for artists of all types. I suggested that the owner take the time to network and to get artwork on the walls by those artists so it can be sold.

The coffee house can take a percentage while the artists get exposure and income. It is a win-win.

Holding an artist reception once a month and inviting the local groups and notable followers is a great way to attract new customers and to meet new people–plus spark sales.

Any sold items remain on display for the month after the consignment time when the new owners can come and pick up the art work.

Thinking of additional ways to increase your profits is something every small business owner should take the time to do.

If you need help–this is just one of the services I offer. If you have any tips, leave them here by clicking on the balloon to your upper right.