In this solo advice video, Evan Carmichael answers a viewer’s question about making a business more profitable. He defines profit as revenue minus costs and chooses to focus on revenue‑boosting tactics rather than cost reduction. He outlines four primary levers: (1) raise prices by 20‑30% to capture more value, even if a few marginal clients leave; (2) increase the average order size, encouraging customers to spend double what they currently do; (3) increase purchase frequency, getting customers to buy more often than once a month; and (4) add product or service variety, expanding the offering portfolio so existing customers can buy multiple items. Throughout, he stresses delivering high value, charging what you’re worth, and using these tactics sequentially if price increases alone aren’t enough. The video ends with a call‑to‑action for likes, comments, and future questions.
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How to be more profitable. I got a great question from one of my YouTube viewers, Ricardo, love you guys, wrote in to say he's got a business, can you tell me what I can do to make it more profitable? Thank you. So Ricardo, there's a few things you can do. Remember, if you're looking at profit, we're looking at how much we're making, our revenue minus our costs, that gives us profit. I'm not going to focus on the cost side of things, you want to try to keep your costs, you know, as low as you can. But let's focus more on the revenue side, okay? How do we bring in more business for our company? Here's a few things. I'm going to give you some tips to help you. Here we go. Number 1: increase your prices. What are you charging right now and how can you increase your prices? Because most entrepreneurs, what we do is we undercut ourselves. We never charge what we're worth. You can increase your prices 20-30% and you'll end up making more money overall, even if you lose a few of your bad clients. So think about how can you increase your prices for what you charge, okay? The next thing, think about how to increase the quantity of the order. So when they're coming from you, they're coming to you once a month, whatever it is, they're spending, you know, $500. How do I get them to spend $1,000? How can you sell them more of what you're selling right now? Get them spending $1,000 instead of $500 every month. The third thing is increase the frequency. So, and they're coming once a month, how do you get them to buy from you twice a month? Get them coming back to buy the same thing more often. And then the last one is adding variety. So how can you add more products and services to what you're doing right now? So you're selling one thing, can you sell two or three? So when somebody's coming in, they're buying lots of stuff and they're coming to your place more often. So those are a few ways. Okay, profitability is, is important, right? You gotta make money, you gotta feed yourself. And the easiest way typically is increasing your prices, offering tons of value and increasing your prices because we do typically tend to undercut what we bring to the table. So make sure you're bringing incredible value and then charge what you're worth. But if you've done that and you're still looking to expand, then look at the other options. Bigger quantities, more frequent, and new products and services. Believe. For those of you watching, like the video, thumbs up below. You want to see more, you have a question, you have a comment, leave it below, I'll make a video response. Thank you so much, I'll see you soon.
