“There’s no shortcut to success” has been my personal mantra since I started trading and investing in my business. Each of you will undergo different processes to obtain success in what you do. You may discover a variety of tactics and secrets to climbing the ladder. Not all businessmen and investors are using the same sets of strategies, which is normal because we do what we do in our ways. You are reading this blog for a reason and maybe that’s because you are looking for secrets to become successful in your business. If that’s the case, this blog might help you a lot!
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
Stock Smarts Manila: March 14, 15, 21, 22 & 28, 2020
Stock Smarts Singapore: May 16 – 17, 2020
Stock Smarts New Zealand: June 6 – 7, 2020
Stock Smarts Sydney: July 11 – 12, 2020
Stock Smarts London: April 18 – 19, 2020
If you are running a business that sells products such as shoes, clothes, etc., you must be able to control your inventories carefully. There are different ways to do it. You can start by recording your purchases properly, monitoring what goes out of your company every day, and keeping a record of the remaining stocks at the end of the month. Your inventories are your capital. You will avoid losses if you know how to control them.
Boosting your business sales is easily done by discounts and promotions. Customers today, especially Filipinos patronize businesses that give frequent promotions. If you can sell 50% off when your inventory is about to go low, do it. If you can run your business with Buy 1 Take 1 promotion, don’t let the opportunity pass. There are plenty of ways to give discounts to your clients. You can also use them to get more prospects and referrals. When giving discounts, try to be as creative and innovative as you can. Use discounts that won’t hurt your business badly.
Your pricing strategy must depend on what you are selling, where your business is located, and who your customers are. There are many factors to consider but these three are the most essential. The pricing is up to you but make sure that you are using it competitively. Avoid going overboard especially if you know that you have many competitors to bring down. If you are new to the business, try to observe how your rivals price their products and make something useful from the information you gathered. Decide the best mark up to stay competitive. Or, consider what the Chinese always say “Di bali liit kita, basta madami benta!”