The Fastest and Easiest Way To Boost Your Recruitment Profits

What I’m going to share with you now in this article could transform your Recruitment or Search business almost overnight…

Which in turn will have a very significant impact on your life too…

Why?

Because I’m about to give you the fastest and easiest was to boost your profits without any downside at all…

And… It won’t even cost you a penny to test it!

In fact, you can put this to work the very second you finish reading this email…

It’s simple: increase your prices by just 10%.

Starting from today, right now, this second…

Now you might be thinking, 10% on the one hand is such a small amount that it wont make any difference; or on the other hand it’s a big enough jump to completely slash your sales…

Well you’d be wrong in both instances…

First, let’s look at the difference it makes to your profits.

Let’s say you’re selling your services at 135 Groats with a margin of 35%. This means your cost of supply is 100 Groats, and you make 35 Groats on each sale.

Increasing your prices by 10% increases your profits by a massive 39% or so on the same volume of sales. Another way of putting it is that you can increase your prices by 10% and have your sales fall by a huge amount and still make the same amount of money…

Is it just me or is getting paid the same amount of money but for less work a really good thing?!

Let’s see how this works:

Your 135 service is now 148.50 with a margin of 48.5%. This means your cost of supply is still 100 Groats, and you’re now making 48.50 Groats on each sale…

Your profits have now jumped to: 48.50/35 = 1.39 times their previous level.

To put it another way you just increased your profits by 39%.

For no extra work!

So, what about our second conclusion, the one where we’re going to drive our potential clients off in droves?

Well… you may lose some clients.

However, you’ll lose a lot fewer than you think; and this is actually a good thing, because you don’t want to be dealing with those clients anyway (invariably my worst clients have always been the ones quick to complain about price and slow to pay. Another thing is that the quality of you and your services as perceived by your customers and prospects goes up).

So, here is the easy way to sell your services at higher prices than your competitors and not lose any sales: just put your prices up…

You don’t need permission or approval; nor do you need to announce it.

Just do it.

It’s that simple. Just raise your prices and see what happens next. The hardest thing about it is getting the confidence to ask higher prices than your competitors and then stick to them. Giving your clients that wow factor is not hard — it might take a little extra thought and then some investment in time and money, but the rewards are way out of proportion to the extra trouble.

And then… keep raising them. Wait a month or so then do it again. And again. And again.

When you find demand starts to drop off, you have a choice: throttle back to the last step before demand fell, or enjoy the extra free time you have.

Increase your prices by 10% just three times on a sale price of £100 with a markup of £50 (not untypical for many businesses, especially in service industries) and you’ll double your profits and be only 25% more expensive than your competitors.

Making up for that 25% difference with excellent marketing, premier positioning, and service is not hard…

Until next time,

Take care, take action and be relentless…

Terry Edwards

P.S. Guess what? Premium pricing — selling to the top end of your market — is also a classic 80/20 strategy and one with even more-than-usual disproportionate effects.

There are lots of benefits to premium pricing and I’m going to share them with you as we go on.

 

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