How to become profitable in four moves

The whole point of being in a business is to make profit then you can choose to do whatever else you want otherwise you are not in business. But the question is always how to become profitable

Here are some four areas you can improve on if you are to become profitable

1. How fast to do you provide solutions?

As a business person you quickly realize that people don’t show up to your business because you have told them that you offer the best services. What amounts to the best is subjective. The one thing that you can always bet is customers come your business because they are under the impression that you can solve their problems.

This means knowing what problems your clients have because the problems are not the same, for example,

 A person who buys a Lamborghini and a person who buy some cheap Toyota are not having the same problem. It will be an error to assume that both parties are looking for a means of transport.

The real question then becomes how fast can you offer the solutions to the problems.

We now live in a world where speed is everything, it is not the big that eat the small, rather the fast that eat the slow. This means the person who offers solutions fast wins. Why do you think taxi apps are winning especially since nothing much has been done for the cars used as taxis.

2. How fast do you act on your customer’s orders?

The other thing you should be thinking about if you are to answer the how to be profitable question is how fast you process your customers orders.

Understanding your supply chain network is key here, because if you have everything you need you can easily work on what was ordered.  

For example if you run a restaurant and the customer has to wait for 1 hour for their food to get on the table, then while they may wait since they have paid, you won’t be getting repeat sale from that customer.

In case of online business this can be as simple as how fast does you website load or you videos play.

3. Can you reduce the order to delivery time?

Closely related to the second point is delivery time. You get more repeat sales and referrals if you reduce the amount of time your customers have to wait for whatever they have bought to be delivered.

Let’s say you ordered something online and it takes two days for it to be delivered and yet in another website the same thing gets delivered to you in a day, guess what, the one day delivery business will get more sales. This is why Amazon prime is used by most people.

Again this just goes back to understanding your supply chain networks especially the downstream operations

4. Can clients learn to use your products faster?

Most companies are not highly profitable because customers have a hard time learning how to use their products or services. Imagine if you have a website that is hard to navigate and you want to increase sales, it won’t go well for you.

As a business you will have to learn to make it easier for your customers to learn to use your products otherwise if the cost of learning out ways the potential benefits of the products then the clients will just drop the product.

You see this with mobile apps or even video games.