Are you struggling with achieving the profit margin that you want? In this changing economy, it can be difficult to stay afloat. Oftentimes, the only alternative we see is to increase our prices. The problem with price inflation is that it endangers your current income, because your clients may reassess their need for your products or services at a higher price.
Imagine if you could produce a steady profit increase, spend less, and give customers a higher perceived value by satisfying their needs and requirements.
This is exactly what the guru’s of the business world have done, and there is no reason why you can’t too. They are so effective, because they implement these three easy revolutionary business strategies.
- Establish innovative ways to solve your customers’ problems
- Become a thought leader and influencer in your industry
- Create a demand from an untapped market
In the late 80’s, Howard Schultz took Starbucks, a small local coffee shop, to the next level by using these strategies. He formed an innovative solution by creating a new coffee bar social environment with designer coffee where friends can meet and spend endless hours. As a result, he established a new demand from a different clientele, the yuppie who wanted to be considered elite. His thought leadership influenced his entire industry with his “coffeehouse culture”. Starbucks is now the leading coffeehouse company in the world and continues to be popular with a new generation of “Muppies”, the Millennial Yuppie.
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