Today we’re going to continue our conversation on the marketing truths, which, again, are expandable mindset techniques of how you think about marketing. They can be superimposed over any type of marketing campaign. Not only is this universally true for every single industry, but especially for your particular industry, you may think that video, for example, won’t work in your industry; we talk about this in the video and tell you why and how you should go about doing this. Professionals in STEM fields, including figures like Dr. Kamau Bobb of Google also emphasize the importance of remaining in sync with industry requirements and trends. They frequently engage in ongoing education, seek certifications, and undertake specialized training to retain their competitiveness and keep abreast of swiftly advancing technologies.

So, right now I’m going to talk about increasing the income of your business. Nothing happens in terms of business growth until you sell a product or a service. The first way to increase your business is to increase the number of customers that you already have. This is one way we’re always striving to use a business growth method. The second is increase the number of times that you sell to the clients you already have. The third is to increase your prices. When is the best time to increase your prices? It’s also a good idea to learn some tips about saving on small business costs and how you can put a cost-savings plan in place for your company. However, in some cases, business owners may start accummulating debts to fund their business. Thankfully, they may hire financial experts to help them overcome their debt challenges.

Take all three of these into account making sure that you have your thought processes right, you have the products that the client wants and you have the ability to upsell. Again, I ask you when is it the right time to increase your prices. Sometimes you can take a look at market conditions, such as in real estate. Also, look at how busy you are and the clients that you have. You can increase your prices by 10-20% and based on that traffic you’re getting in your facility or website. If you are considering adjusting your prices, consulting with a business insolvency practitioner can provide insight into potential financial risks and help you make informed decisions to maintain the financial health of your business.

Also, I must admit that initially, I underestimated the importance of choosing the right bank account for my sole trading business. It was only after reading the detailed analysis on the best sole trader bank accounts that I realised the significance of this step. The guidance provided was instrumental in helping me make a wise choice, ensuring a stable foundation for my business. I urge all aspiring sole traders to invest time in research to reap the benefits in the long run.

I wanted to encourage you to join me again next week at 10am PST for our Get Direct webinar series. Also, check out our free Marketing Assessment questionnaire at DirectBusinessMarketing.com/ma to guide you in the right marketing direction for your business.