7 tips to better your business Why is it that some of the biggest and well known businesses like Lehman Brothers, Starbucks, Chrysler, Blockbuster and General Motors, have started closing stores or shutting down? What went wrong? How qualified were the people in charge? Were they not willing or able to hire those mentors who teach success teaching mentors who have been selling their books and lectures on how to manage your businesses successfully? These questions raise other questions and disbelief that your company might be next. Furthermore, this also reinforces the truth that you must always learn new things to keep your business a success. Here are some tips I have put together to improve your business: 1. Increase your prices by cross selling – Cross selling is the action or practice of selling among or between established clients, markets, traders, etc. Cross selling is a powerful way of expanding your overall value and there for increasing your profit. 2. Increase Your Prices – One way to up your profits is to inflate prices. Some businesses fear that by increasing their prices they will lose customers. The fact is that only a few customers will leave and a new influx of customers will join in return. 3. Improve Marketing – Businesses don’t always realize how the marketing can make or break a company, and can be used as a great tool of success. CEO, Adam Ben-Evi of Axum Media Group, Inc. a major multi-media firm in Orlando, believes “Marketing will make an extraordinary difference in your sales. Especially in this economy.” 4. Track The Cash Flow – A negative flow of cash could quite possibly prove devastating to your business. Keep an eye on it. Get your cash flow calculated and monitored by professionals often, even if you are making profits. 5. Increase Profits Pay Taxes – Some businesses refrain from making profits to avoid having to paying more taxes, this is not right or ethical. Increase your profits, and then pay taxes. 6. Always Remain Open To New Ideas – People become happy and content when they are safe and repetitive. Once they have successful business going they will continue to keep it going that way. Stay open for new ideas from employees, customers and anywhere else. 7. Spend the Money and Hire Professionals – It is often the case with a lot of businesses that they, in trying to cut costs, take short cuts and compromise the quality of some important investments. Save where you can but pay where you should. For more information regarding business tips or tools to better your business, please go to www.AxumMediaGroup.com.
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