#Immediacy on speech making

As a result of this, what action do you think you should ...

As a result of this, what action do you think you should take? Increasing your Sales The simplest way to make more money from your business is o increase your sales turnover simple, but perhaps not so easy. The purpose of this section is to look at ways of increasing turnover.

The obvious method is just to increase prices, although this might have the reverse effect, viz. a drop in turnover. Fear of this causes many small businesses, particularly in the service sector, to lose out because they are afraid to charge enough.

After a careful study of competitors' prices in your sales territory, you may decide you will lose sales if you increase your prices.

If so, let it be a deliberate decision, not just a lack of courage combined with a failure to face reality.

Remember that your low-priced competitors are not necessarily more efficiently may just be less intelligent.

Consequently, if you decide you can't increase prices above a level at which you are losing money, then you had better think about packing it in. You are not going to continue running at a loss. This may of course be just what one of your competitors is trying to make you do. If he has strong financial reserves, he may decide to run at a loss for a time to force some obusiness.ker competitors out of business.

Then he would hope to raise his prices and recover his losses. This 'crafty' price-cutting can happen but isprice-cutting.mon than 'stupid' price-cutting.

If you have studied your competitors as described above, you should not find it difficult to decide which situation applies in your case. You must then decide whether or not you can afford to stay in and fight.

Try to be realistic and unemotional in this decision. If you are ...

Try to be realistic and unemotional in this decision. If you are going to cut your losses, the quicker you do it the better, so that you can salvage as much as possible for a... read more

And you didn't start a business with the object of being unsuccessful' ...

And you didn't start a business with the object of being unsuccessful' Now that your business is established, you probably have some staff and don't have to do ever... read more

The latter is often just a glorified name for regular weekly online ...

The latter is often just a glorified name for regular weekly online advertising in the local and trade press; backed up by the occasional 'special offer' or a seasonal 'sale' on a webs