Improve Your Business' Profits without Raising Prices - dummies

Improve Your Business’ Profits without Raising Prices

By Jim Muehlhausen

All business models erode and grow weaker over time. Your job is to assess the model and make changes before it’s too late. If your profit isn’t what it once was, consider raising your prices — without raising your prices. The following list includes ideas you may want to try:

  • Revise the discount structure

  • Change the minimum order size

  • Charge for delivery and special services

  • Invoice for repairs on serviced equipment

  • Charge for engineering or installation

  • Charge for overtime on rushed orders

  • Collect interest on overdue accounts

  • Produce less of the lower margin models in the line

  • Write penalty clauses into contracts

  • Change the physical characteristics of the product