5 Strategies to Increase your Profit Margin in 2022 — briancajay (2024)

Hey Savvy Business Owner,

In an effort to grow my business, I have been brainstorming and strategizing how I could essentially double my revenue for the upcoming year. I was racking my brain, wondering “ how can I double up?” What is the best way for me to double my profits in my current company? Which strategy is going to bring me the greatest revenue driver?How can I increase my online sales?

For those who are unfamilair, i run a small web design agency, Brianca Jay Designs and Multimedia, that caters to small business owners here in Houston Texas and around the nation.

As i was strategizing how to take Brianca Jay Designs to the next level, it dawned on me, If I am thinking this, then I am positive other business owners are as well. So, I decided to share a little of my developing strategy with you all.

1.DOUBLE YOUR OFFERS.

Thats right, if I want to double in my profits for the new year, then I need to double my offers. To me, this means promoting my self twice as much as I currently do. Showing up, even more, frequently, and becoming stronger in my weak areas. I could have sent a lot more e-blasts this year, if I am being honest.


Talking about what you do, whether at the water cooler or on your social media page, is the best way to make people aware of what you do. Don’t be afraid to share your expertise and knowledge. Talk about your products often. Personally, I have committed to sharing about my products twice as much as i do now for the new year.

2. Get A Mentor

The other day, a little earth angel, fell into my inbox dropping gems upon gems. Her name is @Sunnindenbeigh on Instagram and she owns a natural hair care line that is literally amazing. Her ability to grow hair is a gift from God, and we praise him for it. But, what’s more impressive than that is this woman’s hustle! She is awe-inspiring.


She stopped to offer me some encouragement and led me to a man named Myron Golden, a writer and business coach whom she believed could help me level up. I bought his book, BOSS MOVES that very night…. See I can’t easily afford his one-on -one coaching just yet, but I can still have access to his knowledge in other ways.

Whether it be a book, or a business coach, start where you are, but don’t get caught up trying to know it all. Leverage other peoples skill set to lift you a little higher.

Feel free to start with my E-Book, 7 Steps to Double your Online Sales

3. Raise Your Prices.

Affordable is fine, but cheap, that’s a disservice to yourself. I was listening to an interview with Lewis Howe and Rachel Rodgers, founder of Hello Seven, a club that teaches women how to build wealth. She provides training, legal, and mindset coaching, and had a 1 million dollar month during the pandemic. And her advice to every woman of color was to DOUBLE your prices.

Rachel argued that Black women on average charge 50-70% less than their services are worth. So even if we were to double our prices we would still be the most affordable option.

Whats crazy is, for me and my business, she is correct. Since, I began my business I have operated below market value in an effort to provide resources to those who lack the capital to race with the big dogs. And, although this is something I continue to believe in, I had to strategize how I would accomplish this goal.


Let’s take these prices off the floor for the upcoming new year. Maybe then, we would have the time and resources to offer scholarships and free trainings rather than scraping every dollar out of the offering plate.

4.Update your portfolio


It’s a new year, and that means GROWTH. Make sure your potential clients are aware of where you are now, and not where your were. Dedicate a few hours to updating your current portfolio and see if that alone doesn’t help you close more deals.

Putting effort into your portfolio assigns more value to the work you’ve done, and the work you’re going to do. And the more value we give our work, the better it is.

5. Collaborate

One thing, I have known all year is that I need to grow my back links in order to get better SEO rankings. But, why have I not done it?

Probably because it involves working with other people and reaching out, and asking for something, and potentially being told no.

Yea, not a good enough reason. In an effort to Double my profits I am going to double my efforts at collaboration, which should be easy because If I do 2, I will have been incredibly successful. Considering I only did it once all of 2021.

So that’s my big 5 strategies to double my profits in 2022. WIth these efforts I hope to double my revenue for the upcoming year. What are some of the strategies your are going to implement? If your still unsure, I reccomend my new E-Book, 7 Steps to Double your Online Sales coming out January 25th

Love this post? Let me know which step is best for you below in the comments.

My name is Brianca Jay and you haven't already guessed it...I love business I love reviewing & discussing business strategies & just talking about money in general

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5 Strategies to Increase your Profit Margin in 2022 — briancajay (2024)

FAQs

How profit margin can be increased? ›

A company's profit margin shouldn't be static. Instead, it should always be rising and improving if the company is thriving. You can increase net profit margin by either reducing production costs and business expenses or increasing the sales revenue.

What raises a profit margin higher? ›

Companies can increase their net margin by increasing revenues, such as through selling more goods or services or by increasing prices. Companies can increase their net margin by reducing costs (e.g., finding cheaper sources for raw materials).

What is the best strategy to increase profits? ›

There are four key areas that can help drive profitability. These are reducing costs, increasing turnover, increasing productivity, and increasing efficiency. You can also expand into new market sectors, or develop new products or services.

What is profit strategy? ›

A profit strategy is a marketing approach that focuses on maximizing profits by managing costs and increasing revenue. This approach is often used by businesses in highly competitive markets, where margins are thin, and customers are price-sensitive. Walmart is an example of a company that uses a profit strategy.

What is a margin improvement plan? ›

Margin improvement is much more involved than simply raising prices or cutting costs. The process requires a structured approach to identify and analyze the multitude of variables that impact your profitability. Planning, execution, and gathering data are the keys to establishing effective margin improvement programs.

What are the 6 strategies that grow revenues and profits? ›

Increase your revenue in six ways: grow customer base, retention, customer service, data-driven engagement, refine pricing and find new revenue streams.

What makes a company profitable? ›

As such, a company is profitable if its revenue exceeds its expenses. This metric is often expressed as a financial ratio to help management, analysts, and investors to better understand how the company is able to earn the money necessary to cover its expenses and other company-related costs.

How can you improve company profits and reduce costs? ›

There are 3 main ways to improve the profitability of your company: Sell more, price higher, and reduce costs. Some organisations focus mainly on selling and on delivering great service to customers. That is great. Let us remember that profits can also be increased by greater cost efficiency.

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