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Bank of China is one of the largest commercial Banks in China. The Bank of China is also the 6th most profitable Bank in the world, slightly behind Bank of America. It was formed after NationsBank acquired BankAmerica in Agricultural Bank of China is among the largest banks of China. It was the last big four banks of China to go Public. It is the 3rd most profitable Company of China and caters the needs of Agricultural sector.
Alphabet Inc. The bank of Manhattan Company was the 3rd oldest bank in the United States. China Construction Bank is among the big four banks of China. It is the 2nd Largest bank in the world by Market Capitalisation. The China Construction Bank has more than 13, branches in China and presence in more than 7 countries worldwide.
Although it was founded in , its growth has kept pace with the Chinese Economy, allowing it to achieve this tremendous feat. What do you think?
You hear some success stories about new businesses instantly making tons of money, but the reality is often much different. So how do businesses make money? Commit to constant and never-ending improvement, and you can learn how to make a profit in business. Businesses large and small have the same goal: reliable profits. Those just starting out have a few extra considerations as they build the foundation required to grow their business sustainably.
Before you can answer that question, you need to understand what it really means to make a profit. This is the real number that will determine if you stay in business, experience explosive growth or have to close your doors.
You also need a basic knowledge of financial terms and the ability to read financial statements. Every successful business starts with a plan — or even better, a business map. A business map is more than a way to get from point A to point B. Your business map will include a plan for how to make a profit.
What can you do today, this week or this month to start improving your quality of profit ratio? Instead , think in terms of incremental growth. Is it a lack of viable leadership skills? Is it a problem with your sales team? Have you not spent enough time getting the word out about your brand? Have you held on to limiting beliefs? Tony always says to focus on your strengths, and hire for your weaknesses. Identify your own personal strengths and learn how to leverage them in leadership.
Then identify your weaknesses and determine who you need to hire to fill those gaps. Perhaps you need an accountant or bookkeeper , or an incredible sales team. There is likely something you do that is better than your competition.
Make sure that you point out your own value. Holding yourself and your business to a higher standard than your competitors will lead to repeat business every time. Offer special deals and promotions to entice your customers to buy more merchandise. Every time a customer reaches a point of sale they should be offered an upsell. Upselling is for any customer service field. Even a law firm can offer additional services for a lesser fee. More services rendered equals more money for your business,.
Run sales and deals on a periodic schedule to draw your customers back sooner rather than later. The more frequently your customers return the more money they will spend with you. This starts by keeping your name in the forefront of their mind. Make sure you have a solid marketing plan in place for this. Making sure that you retain the customers you worked so hard to acquire is a big part of keeping your business profitable. To do this there are a number of follow up platforms that you can use to make sure your customers are still happy with your services.
The number one reason customers leave a business is dissatisfaction, so making sure your customers are satisfied is the best way to retain them. By processing payments daily instead of once or twice a week, you will maintain a fuller bottom line. It will also help with customer retention, as many people rely on their online banking platforms to keep their balances. If you have to process refunds or other monies that will leave your account, process them as slow as possible.
Despite the saying that nothing in life is free, there are some things you can do, at no cost to your business, to promote it. Social media is a great example of this. Organic shares and likes are all drawing people toward your business. There are other tools at your disposal, so pick a few, and get started today. Inaction is the only thing that can stifle your business momentum.
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