The following are some of the most recognised ways to grow a business.
Increase the number of customers of the type you want to have.
All business people have limited time & resources and that is why it is important to target the type of customers you want attract to your business.
Increase the number of times customers come back.
The more you can get clients to return to your business for additional sales the better your bottom line will be. Look closely at what your sales/service offer is and think about what you can offer to get clients coming back more often.
Increase the average value of each sale made.
Business often makes the mistake of thinking that selling items at a low price will increase sales and it often will, but being locked into lower prices means that your margin (difference between cost of goods & sales price) is always low and this leads to low profitability even though you are very busy.
Look closely at your pricing and what the market will pay for your product.
Contact us if you want to discuss these ideas further.
Football
Well the tigers are done & dusted again in the first week of finals.
But at least we made it with nine straight.
But I’m not game to say look out for us next year. We live in hope.
CPI
The CPI for the June quarter 2014 was 105.9 which was an increase from 105.4 at end of March qtr.
At June 2013 the index was 102.8.
The increase over the 2013/14 year was 3.01%
CPI increases are broken down into many areas like Melbourne City etc
If you want more specific CPI data you need to look at the location you are dealing with.
http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6401.0Main%20Features1Jun%202014?opendocument&tabname=Summary&prodno=6401.0&issue=Jun%202014&num=&view=
2014-09-15
