December 2008 ~ Adding Value to Add Profit
by Andrea Costantine
If you have been thinking about ways to increase your bottom line, start by adding value. Value can show up in many ways. Even if you do not have a service-based business, there are ways you can still increase your value to increase your profit.
For example, if you owned a pet salon and you normally charge $30 for a pet shampoo and blow dry and that is all that you do. Nothing else is included. If you want to increase your value, you may do that by:
(1) Giving your owners a take home "doggy bag" with a treat for their special pet.
(2) Or - you could keep track of the pets' birthdays, send a card to the owner wishing a happy birthday, and giving their pet a free day at the salon.
By adding value and increasing your service - your bottom line will start to show it.
DO NOT get into the mindset that times are tough, and think that you cannot afford to add value to your service.
In fact, it is just the opposite. When times are tough, you have to increase your value. People want to feel special and important. When you treat them that way, they will come back again and again (and they will also tell all of their friends about you).
I challenge you to see how you can add value in your business. No matter what business you are in, I guarantee that you can find a way to add value and set yourself apart from your competition.
Here are some professions and examples of ways to add value:
Realtor: Pay for your buyer's house to be cleaned after they move in (or for your sellers after they move out).
Hair Stylist: Call your clients a week after their new haircut, ensure they can style it the way you showed them, if not, invite them back in for a complimentary styling session.
Photographer: After a wedding, include a free, one-year anniversary follow-up session. Stay in touch with them every year, soon they will be having kids and needing family portraits!
You get the point… there’s always something you can do to add value to your business.
If you are having trouble figuring out what value to add, ask your clients what they would like to see and what is important to them.
Once you start adding value, not only will your bottom line start to increase, but you will also be able to charge more for your services because you will stand out from your competitors.
The fact is - people do not make purchases on price alone. You can start charging more for your services and keep adding value, because when you set yourself apart it will not matter what your price is.
(c) 2008 Andrea Costantine. All Rights Reserved.
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Andrea Costantine is the ConsciousPreneur Connection Specialist, helping conscious-minded business owners shift from selling to soulful service by integrating whole person and spiritual marketing strategies. Visit her website for your free ConsciousPreneur Kit today! www.andreacostantine.com.
