Don't Be Afraid to Use Coupons and Discounts!

Attention business owners everywhere - small, large, international, Fortune 500 - take note: It will not kill your business or significantly decrease your profits for you to offer your customers a coupon, a periodic discount, a reward or a special offer! In fact, you will more than likely see an increase in your profits!

I just cannot believe the number of business owners I come across who are stingy with their coupons. They don't want to give any coupons to any non-profit organizations for any promotions or fund-raising efforts. They're afraid to offer a sale or discount on any of their products or services, until they're so desperate for business that they have to in order to move anything.

The number one reason I get from people who balk at the idea of offering a promotion of some sort is that they simply can't afford to take that cut into their profit margin. I guess it never occurs to them that by offering even a small snivel of a dicount, they would probably move a lot more product or sell more services during that time frame, because bargains attract buyers! And even if your profit margin is a little bit less on those few items or for that short amount of time, if you bring in twice your normal number of customers due to the offer, you would more than make up for the difference in your profits.

Hmmm...do I really want to be sure I'm making no less than $5.00 profit on each and every item I sell, or would I rather sell more items and probably double my normal profits for the month?