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Is almost every dime of income your business makes pouring down a black hole to pay bills leaving you asking 'Where did all the money go?' Want to know an important principle about managing money?

Income must be greater than outgo!

How can you accomplish that? With a money management tactic called INCOME PLANNING. I've listed 5 things you can do to make more money in your business.

RESEARCH YOUR TARGET MARKET - To begin, work out what services or products your clients desire and then offer what they want. A simple method to work out what they will buy is to look over receipts from your past sales, and work out what product or service is selling the best. Question your customers about 1) why they bought that item, and 2) how they expected the product or service to benefit them. Now use their response in your advertising to promote that product or service.

PROMOTE TO YOUR MARKET - Promoting something in a way that will be responded to by your customers is an art. Advertising does not have to include offering a reduced price. It's much more important to find out why a client wants or needs your service or product, and exactly what they will base their buying decision on. Price may not be as important as fast delivery and dependable service.

Find effective, inexpensive ways to promote. When you meet a potential client, get their business card, and send them a personal letter to let them know how your products and services would be of benefit to them. This is one of the most personal, least expensive promotional activities you can use. Postcards mailed at regular intervals to current and potential customers can also be very effective.

Another great method to get new customers is to request referrals from your satisfied customers. You can make it fun for your clients to refer new business by creating a referral game they can participate in, where they get something in return for a certain number of referrals who buy. Allow your clients help your business out. They honestly do want you to succeed in your business.

SELL AND DELIVER - Selling is easier when you are genuinely interested in your clients and want to help them. ASK them what they want. Then it becomes much easier to sell them your services or products. For example, a family of 4 who wants a van to cart the kids and their equipment around to sports activities is going to walk off in disgust if the salesperson is showing them 2-door sports models, despite the fact that the sports car is a good deal.

After you've sold the product, courteous, professional, fast delivery is a key to guarantee customer satisfaction. This is especially important if you are in a service business. Delivering what you promised, when you promised it, can ensure repeat purchases and referrals for new business.

PREVENT THE WASTE OF MONEY - For every dollar you agree to spend in your business, figure out how that expenditure is going to bring $5 or more worth of income back into your business. Set aside a percentage of the weekly income to fund a promotional budget and then figure out the most effective ways to reach your customers within the budget. It is extremely disheartening when the income you worked hard to earn gets wasted on purchases that do not give you a profitable return on your investment.

REPEAT SUCCESSFUL PROMOTIONAL ACTIONS - Look back at when your sales were highest. Figure out what your successful promotional actions were at the time and do those actions again.

There is a revolutionary new money management software tool available to help you utilize your creative thinking power, time and energy on planning how to increase the income. That gets the CASH FLOWing in the right direction. It helps you manage your money so you can put your attention back on customer service and you will enjoy your business even more.

Sandra Simmons, President of Money Management Solutions, has years of experience helping business owners manage their income to reach their financial goals. To learn more about the Money Management Software she created, watch the FREE 5-minute demo video on her website at www.moneymgmtsolutions.com