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14 Ways to Double Your Profits NOW


In our business experience, we have discovered three (3)

principles that can help you channel your efforts to boost your



1. It can be Very tough to find new customers;

2. Your Existing customers are your Best prospects for new/more

business; and

3. There are only so many hours in a day, so you have to organize

your time and focus your energy to be most productive and capture

the best/highest potential opportunities.


Implement these 14 Action Steps in Your Business to Boost your



1.  Raise Your Rates/Prices

Price often implies a certain image and quality level. Don't you

offer quality? Excellent value for the dollar? As the price of

necessities such as food and clothing are rising, when was the

last time you raised your prices? Presumably the value of your

products and services has increased over the time period, so...


When you raise your rates, you will earn more for your

efforts--more money, same time, same effort and same investment.

Some of your customers will complain. Be sure you present the

value you provide. And, those customers who leave, well good luck

to them.


2.  Dismiss Your Worst—Least Productive—Employees

As corny as this may sound, happy people are more productive. And

those employees who don't mesh well with your culture, your

mission or your team are probably reducing the overall

effectiveness of your organization.


Give them a severance package, or write them up and give them

three (3) or six (6) months notice to turn around or find a new

[more suitable] position. Be alert for negative reaction and a

lame duck situation (for example, people who you put on probation

and who wait for their termination notice and negatively impact

productivity and employee morale).


Offer the empty seat to a go-getter Immediately. You are likely

to find several volunteers within your organization. We have

found that when non-performers, dissenters, and complainers exit,

the remaining team members will feel much better and become much

more productive.



3.  Terminate Your Worst Customers, Clients, etc.

Analyze all of your accounts for profitability. ‘Worst’ could

mean least profitable or those who complain the most, demand the

most and delay payment. Contact those who you want to increase

their business with you. Give them a timeframe and an opportunity

to increase their business volume with you, and follow up. If

they give you more business, great; if not, Exit.


We recently helped one of our clients do this. Our team analyzed

all their accounts and their business (cost structure). We

determined that the company spends approximately $45,000 per

client every year to administer, maintain, and service each

account. We set the minimum annual revenue for each account at a

dollar value that's approximately two times (2x) cost.


Then we organized the sales force to call on 48 low volume and

dormant accounts. They grew some accounts, decided to reassess

some accounts six (6) months later and terminated nine accounts.

These steps increased their profitability and productivity,



4.            Charge and Collect Work Fees and Retainers

Work fees and retainers are up-front (advances) deposits for work

to be performed. These fees are useful to cover your overhead.

Equally important an advance gains a buy-in and a commitment from

the client. In

some industries these fees are customary. Retainer agreements

should be in writing signed by the customer or client to avoid

confusion and a possible attempt to get a refund. Make your Work

Fees and Retainers non-refundable.


>>  The key is when a customer pays the work fee, he/she signals

a serious commitment to undertake and complete the project.

In our experience, those customers who refuse to pay work fees

are often the people who are cost likely to walk away from a deal

or project in the middle and leave you holding the bag...


5. Charge Work Fees for Customization

By the way, we now collect deposits for customization work. For

example, when we customize our best selling premium '157 Ways to

Cut Your Grocery Bill.' Unfortunately, some years back, we

customized the publication for a new customer, obtained customer

sign off on the proof, and printed the copies. They changed their

mind or had financial difficulties, and we got stuck paying the

balance of the print bill. No More. As a caveat, it is better to

reject a

job and than take the job, not get paid, waste your time and lose



6.  Request Referrals

Ask your most satisfied (best) customers to recommend you to

their colleagues, vendors, suppliers, customers, etc. Request

names and contact points. Follow up.


>>  For example, "Joe at XYZ Services encouraged me to call you

because he thought you might benefit from our services. He has

been working with us for over five years."


7.  Run a Special Promotion or Two

If you are a Small Business Advisor [newsletter] subscriber or a

Publishing Gold e-zine member, you know that we make offers and

run promotions on our products and services in the news-letter.

Every time we do this, we generate new business. Why not give

these techniques a try in your business?


—Study the publications [trade mags, newsletters, etc.] in your

field over several months. Which advertisers run ads and promos

again and again? This means their ads must be working (unless the

publication requires advertisers to purchase a series of

insertions). If your product meshes with the readership, craft a

promotion and test it.


8.  Liquidate Your Old Inventory Now

Hey, we all make mistakes. Last year's hot red dress may be this

year's iced-cold rag. So it goes.

Your old inventory is not getting any better or more attractive.

What's more, inventory takes up warehouse space, requires

insurance, administrative time, and mind space.

—Cut your losses, and Liquidate the stuff [aging inventory] ASAP.

—Offer the old stuff at a reduced price to your customers who

make another purchase.

—Sell the dead weight at auction or to a liquidator or


—Donate the unwanted items to a worthy charity.


9.  Charge for Out-of-Pocket Costs and Expenses

Many service businesses charge for photocopies, long distance

telephone charges, Overnight deliveries, fax charges, postage,

meals for late work, travel and lodging costs and expenses, etc.

—You may be able to add these charges to your roster of fees and

expenses. Some companies even add a 10% surcharge to the

out-of-pocket costs and expenses. Collecting this money can

significantly increase your bottom line.


10. Collect Your Accounts Receivable

Many customers will gladly sit tight and stretch out the time it

takes to pay you, when you let them. While collection is an art

and you don’t want to lose customers, every day you don’t collect

money costs you money in terms of working capital. Keep track of

your accounts receivable and push your customers to pay their

bills on time.


11. Organize - Analyze What's Working / What's Not

We all get tunnel vision from time to time and often keep doing

what we've been doing. Maybe it's habit, maybe life becomes comfortable.

Step back. Take a look at what's working, what's profitable, what's not

working, what's costing you money, and how you can improve. Get

buy-in and develop an implementation plan.


12. Hold a 'Focus Group' and/or Conduct a Survey

Organize a focus group, or maybe two sessions; include your best

customers and your least satisfied customers. Offer a prize or

bonus to encourage participation. Ask them why they like doing

business with you and why they don't. Ask what you can do to



13.  Read Your Customer Feedback / Letters / Complaint Forms

This material is a veritable goldmine for you and your

organization. What better way to improve than to learn what your

customers dislike about your products, service, etc.? Answer

every last piece of correspondence, and re-tool your programs.

You'll be amazed at the positive results.


While it can be Very difficult to land new customers, your

existing customer base provides a goldmine of new opportunities

and profits. Wield the pick axe today!


14.  Upsell Vigorously

—Upsell means to increase the order size or the purchase


—To discover more unbeatable upselling techniques and strategies,

obtain Publishing Gold's special report: 'Unbeatable Upselling


[Send US $10.00, per copy, postpaid, to, Inc.,

PO Box 758, Armonk, NY 10504-0758 USA. International members

please add additional $4.00 for extra postage.]


To unlock the profit-making opportunities that are hidden in your

business and implement the strategies and ideas featured in this

special report, e-mail Joseph Gelb at





Joseph Gelb is a CPA and Attorney at Law. He specializes in small

business growth and development. Author of, “How to Start a

Million Dollar Service Business” and “Tax Accounting for

Small Business,” Mr. Gelb can be reached at T: 1-516-374-1387;   

F: 516-374-1175. Ordering info: PO Box 436, Woodmere, NY

11598-0436 USA.