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Increasing Sales Volumes Isn’t Always The Best Strategy

“Don’t mistake movement for progress” – Denzel Washington. Is the sales frenzy disguising a harsh reality in your small business?

Ever feel like you’re running on a treadmill and getting nowhere with your business?

I was talking to a client of mine a couple of days ago who had put a new product on the market. I was surprised at the pricing he put on it as I thought it was a great product and he should have doubled his sales price. This reminded me of the epic smartphone battle between Apple and a bunch of Android-using contenders? 🏃‍♂ïļ

You’d think the side with more sales wins, right? Not quite. Despite being outnumbered 5 to 1 by Androids, Apple was raking in over 90% of industry profits it was reported in one year. How, you ask? Simple. They didn’t join the rat race of sales 🐀

While others flooded the market with budget devices, Apple catered to a specific crowd who cherished design, innovation and didn’t mind splurging. The result? High-margin sales and, you guessed it, whopping profits! 💰

But wait, there’s more. Apple not only sold pricey phones but also created an irresistible brand ecosystem, keeping customers hooked. They weren’t busy slashing prices; they were crafting a lifestyle 🙂

Sure, Android won the popularity game, but it was Apple chuckling to the bank. They proved that understanding customers, sticking to your brand, and maintaining quality can lead to profits. The goal isn’t selling the most but making the most out of each sale ðŸĨ…

So, what does this mean for your business? The lessons from Apple aren’t just for tech gurus or big corporations. They apply to every business. Boosting sales doesn’t necessarily mean growth. It’s like saying working harder guarantees success 😁

Instead, think of selling smarter, not more. Perhaps rethinking your pricing could be a game-changer. Imagine earning more by selling the same or less, just by increasing your prices a tad?

This strategy can beef up your profits without stressing over scaling up production or expanding your reach. It’s about working smarter, not harder. So, ready to change gears and rethink your growth strategy? ðŸŠī

Disclaimer: Paul Stankiewicz is the owner and principal at Paul Marks & Co Chartered Accountants which is the trading name of Paul Marks Ltd a Limited Company registered in England and Wales (registered number 4487645).This article is designed for the information of readers only and is the opinion of the author only. Readers should not act on any of the information contained in this article without seeking professional advice. Nothing in this article constitutes advice, nor does the transmission, downloading or sending of any information or the Material create any contractual relationship. Links to third party websites are provided as a convenience to the reader, Paul Marks Ltd does not control and is not responsible for any of those websites or their content. Paul Stankiewicz and Paul Marks Ltd accepts no liability or responsibility whatsoever for any loss or damage suffered by any user of the information contained on or accessed through this article or the Material downloaded.