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Business strategy
Practical tips for maintaining high profit ratio for a business
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[QUOTE="Augusta, post: 286494, member: 25283"] A successful business only maintain a high profit ratio year in year out for its self.A business that Isn't only steading on profit will wither away in no time. So how can only high profit ratio be maintained in a business Attract leads Make sure your business is attracting customers daily. You can sustain a business without gaining leads. Convert leads When you get the leads convert them into potential buyers and make them actually buy which is the bottom line. increase the size of transactions The next one will be to increase the number of transactions your business carries per day. Reduce costly services provision of the business Take away high expenses services that are rendered to your business to reduce high cost for the business increase the price of products increase the price of the product in a subtle way to raise the profit margin Increase number of referrals Work on ways to get more referrals from existing customers to your business. What do you think? [/QUOTE]
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