Business Services Industry
Profit, no loss
Entrepreneur, April, 2005 by Deborah House
Kirsten Osolind, author of "Labor for Love" ("Flash," February), hit the nail on the head when suggesting entrepreneurs spend their time and resources on increasing revenues from profitable customers while "firing" the unprofitable ones.
One extremely effective profit-building strategy is to raise prices to match the value received and perceived by customers. Even if a company loses 50 percent of its customers, its revenue and profits remain the same.
Entrepreneurs also double the time and resources available to go after customers with problems their products and services can realistically solve--increasing their customers' profits as well as their own.
DEBORAH HOUSE
Chicago
COPYRIGHT 2005 Entrepreneur Media, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
Most Popular Business Publications
Content provided in partnership with
