10 Reliable Tips to Help You Increase Your Profits

Make sales and boost your profits.

Franchise Your Business

Schedule a FREE one-on-one session with one of our Franchise Advisors today and we’ll help you start building your franchise organization.
Chairman and CEO of Brian Tracy International, Speaker and Author
2 min read
Opinions expressed by Entrepreneur contributors are their own.

partner  says you can't affect your directly — you can only adjust the variables that ultimately determine your level of profitability. Basically, you need a multi-pronged strategy to align larger goals and take important steps along the way. Some of Tracy's recommendations for increasing your profits might seem rudimentary or obvious, but sometimes we forget about what's right under our nose. They include:

  1. Increasing your .
  2. Converting your leads. 
  3. Increasing your number of transactions. Increase your sales by at least 10 percent. Ask yourself what can you do to get your customers to buy more and buy more frequently?
  4. Increasing the size of your transactions. When you can, always look to upsell your customers.
  5. Reducing costs to acquire a new customer. By focusing heavily on and promotion, you will have to spend less on attracting each new customer. 
  6. Increasing your referrals. 

Each of these steps can be used in conjunction with each other or separately to make more sales. 

Click the video to hear more tips from Brian Tracy. 

Related: Go From Unmotivated to Goal-Oriented With These Hacks

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from and thought leaders. We provide expertise and opportunities to accelerate and effectively monetize video and audio content distributed across all digital platforms for the genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on RokuApple TV and the Entrepreneur App available on iOS and Android devices.

More from Entrepreneur
Our Franchise Advisors will guide you through the entire franchising process, for FREE!
  1. Book a one-on-one session with a Franchise Advisor
  2. Take a survey about your needs & goals
  3. Find your ideal franchise
  4. Learn about that franchise
  5. Meet the franchisor
  6. Receive the best business resources
Discover the franchise that’s right for you by answering some quick questions about
  • Which industry you’re interested in
  • Why you want to buy a franchise
  • What your financial needs are
  • Where you’re located
  • And more
Discover a better way to hire freelancers. From business to marketing, sales, finance, design, technology, and more, we have the freelancers you need to tackle your most important work and projects, on-demand.

Latest on Entrepreneur