Sure, it should be pretty straightforward. But that doesn’t mean it is always easy.
Try these little things.
Immediately apply Disney pricing to all of your services and products.
A small increase in prices on a regular basis. Example, 5p here, 10p a bit later on.
Ideally you want most of your customers to draw in a breath when you tell them how much it is – then put your prices just below that amount. All of this additional income should be pure profit.
Also, just because business A down the road charges x. Does not mean you have too. Your business should be different.
Once you have got used to increasing prices, in the following few hours of today.
Print off a business Bank Statement. Look at each entry of outgoings.
What is it for?
Is it really needed for the business?
Can you stop, reduce, amend?
What sources of income do you have ?
Are any of these regular, can they be placed on Direct Debit to improve cashflow?
Is there any way of setting up regular payments from customers/stage payments for large jobs etc.
Look at each line and work out where you can improve.
Look at all of your products and question, are you charging enough, where are the expensive parts of the process.
All too often we run our businesses on hope, and that is not good enough. You and I need to know exactly what our costs are and where our profit comes from.
I know money is boring, I know thinking about it is not at all sexy. But business is in the main boring, it’s mechanical.
Learn to love the mechanics. Learn to love the boring bit.
When you are ready to get a shimmy on with some of these, the contact form is below.