Series  |  Briefs  |  Quick tips  |  Basics  |  Other
Retail  |  Marketing  |  Products & Pricing  |  Other

How to Make More Money – Instantly

Posted On - 18/09/2015 09:24:25

Instant Profit: a workshop designed to make making more money easierIt's hard to make a decent living. What with the internet, eBay, PCW…, making money feels like it's never been harder. Now, when we set about planning the Open Day ShopTalk always aims to do stuff that'll help tackle your problems. So at this year's we put on a session called "Instant Profit". A workshop designed to make making more money easier.

This blog marks the first in a series by the same name. In it we sets out the why's-and-what's behind the Open Day workshop - more on the session's background at what it was out to achieve. From there on the series sets out the specific things you should do and the video shot at the Open Day. Shall we begin?

A man walks into a shop...

It's not the start of a joke. And we don't mean to be sexist or suggest this only applies to retail. It doesn't matter who it is or what type of business you are, the same applies. Imagine the scene: there you are – a customer directly facing you or talking to you on the phone. How can – or more, how will – you make more money from them? What can you do to increase how much they buy from you there and then? Be they totally new, never seen before customers or regulars who call most days for a chat, what can you do? That's what "Instant Profit" is all about.

You already know the answer

Making more money: not rocket scienceNot rocket science is it?

You'll make more money by selling what you would have but now at a higher price.

You'll make more money by selling more stuff than you would usually.

Or, best of all, you'll make more money by selling more at a higher price.

So "Instant Profit" is about price and sales. Amazed? Probably not. So why do we make such a palaver about it? Because, being entirely honest, many of you have got the wrong end of the stick. There's muddled thinking out there that needs putting right. That's why we staged the workshop at the Open Day.

Putting up prices won't destroy your business

You'll make more money instantly charging more for what you sell. Every % on the price of a cable, repair or installation is a % more revenue.  Or to be precise, % more profit - remember the costs are the same. But won't customers desert you if you put prices up? It's a common fear – everyone knows as prices go up, demand falls.

The issue isn't this relationship doesn't exist it's how fragile many of you think it is. "Instant Profit" serves to set this right. Based on a mix of the underlying maths as well as the findings of the Retail Price Comparison we show you how price and sales actually work. How price rises won't affect your business like you may believe and that you can raise them – more easily than you think.

Please tell us why you dislike this blog article?
Display Name:
Email Address:
Post comment?
I accept the terms and conditions set out here
Post Cancel
Also in this series
  1. Make Customers Complain
  2. You've Options with That
  3. Put Prices Up - NOW!
  4. How to Make More Money – Instantly
February 2018 (1)
January 2018 (2)
December 2017 (2)
November 2017 (4)
Earlier (301)
Contact Us
Like what you've read? Then why not sign up to the Shop Talk newsletter?

Have ideas or want to discuss them further? Don't understand what's been written and need some explanation? If you want to talk, for whatever reason, we're happy to as well.

The best ways to find us are by email or by mobile:

01977 282 300 & choose option 5

Alternatively please call 01977 282 359 to speak to a member of our ShopTalk team

You have already signed up to the Shop Talk mailing list

Shop Talk: The only blog for small independent IT retailers and businesses

It's FREE. Join the Shop Talk community and get advice on how to build a better business.

Contact Name: *
Email Address: (privacy policy) *
What's your greatest Business Challenge?
New to Target?
Interested in our TRADE ONLY deals?
Yes No *
Please type the characters from the image shown



You will receive a confirmation email, please click on the link to confirm your email address.


You have now been added to the Shop Talk blog news mailing list.