So we have been talking on business finance lately and in our last session, we talked about “2 ways to make money flow to you”, in case you missed it READ HERE. Today we would be sharing with you “3 Ways To Boost Your Business Income” and as a result gaming up your income is part of the Loop next class, we would be sharing more on how to boost your business income.
Here are three ways to boost your income:
- Increase Your Number of Transactions:
The easiest way to boost your income is to increase your transaction rate that is if you sell 5 products in a month and you set a goal to start selling 10 and you archive this that means you have achieved your goal by 100%.
- Increase Your Value Of Transaction:
If say the value of what you get from a deal is #5000 in terms of profit and also if you decide to do some value innovation and reduce the cost of the transaction and let’s say you get to save another #1500 from it that means you have #6500 in total (5000+1500). Your income would have increased by 30%.
- Increase The Fee Of Your Transaction:
YES, we would advise you to do so because one good way to do so is to increase the amount you charge for your product and services. The Caveat here is to make sure that your value delivery matches up with what you are charging that is, the amount paid matches up the services gotten.
So here are the three ways to boost your business income we will be sharing more in the Life class happening on the 6th of July, 2019 we are sure you don’t want to miss it.
THE STARTUP PLACE LTD:
Welcome to The Startup Place Ltd. We support Startups and Small Business Owners with the Marketing, Finance, Operations and Human Resource Solutions to Grow their Business.
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