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          05/29/2025

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          06/05/2025

          5:30pm - 8:30pm

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          For over 30 years, the Chamber’s Women’s Network has connected female professionals of all background and career levels. Today, our Women’s Network is the largest in New England, strengthening the professional networks of women each year.

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          The Massachusetts Apprentice Network convenes employers, training providers, and talent sources interested in developing and implementing apprenticeship programs in occupations across industries and statewide in fields such as tech, advanced manufacturing, healthcare, financial services, and more.

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          We are developing an ecosystem of corporations and partners with the influence and buying power to transform economic inclusion for minority business enterprises (MBEs).

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Bostonchamber
Boston Chamber
  • Events
        • Events

          • Overview
          • Events Calendar
          • Chamber Awards
          • New Chamber Event Series
        • ...
          Premier Event
          2025 Annual Meeting

          Join us for our highly anticipated Annual Meeting, Greater Boston's top business convening of the year.

          05/20/2025

          4:30pm - 8:00pm

          Omni Boston Hotel

          arrow-go
          Read More
        • ...
          Pacesetters
          Doing Business with Columbia Construction

          This virtual event gives small business owners the chance to hear directly from procurement officers about opportunities to work with them.

          05/29/2025

          12:00pm - 1:00pm

          Virtual

          arrow-go
          Read More
        • ...
          City Awake
          Art of Connection: An Evening at the Museum of Fine Arts, Boston

          Join us for an exclusive networking event at the Museum of Fine Arts and enjoy self-guided tours of John Wilson and Van Gogh, showcasing the deep bond of family, friendship, and community.

          06/05/2025

          5:30pm - 8:30pm

          Museum of Fine Arts

          arrow-go
          Read More
  • Learning & Development
        • Learning & Development

          • Overview
          • Call for Nominations
          • Insights
        • Transformational DEI Certificate

          This program is in redevelopment. Click this page for DEI resources.

          Read More
          Women’s Leadership Program

          Our Women’s Leadership Program enables you to take your leadership to the next level by arming you with the most in-demand leadership toolkit.

          Read More
          Boston’s Future Leaders

          Our Boston’s Future Leaders (BFL) program provides emerging leaders with a socially conscious and civically engaged leadership toolkit, as well as the opportunity to apply their knowledge through experiential assignments.

          Read More
          Authentic Professionalism for Early Career Professionals

          Join us on June 12 for a highly interactive virtual workshop with Strategic Career & Leadership Coach Carole-Ann Penney.

          Read More
  • Economic Inclusion
        • Economic Inclusion

          • Overview
          • Pacesetters
          • Resources
        • ...
          Economic Inclusion
          City Awake

          City Awake empowers young professionals in a variety of ways that encourages these rising leaders to stay invested in the region’s future success.

          arrow-go
          Read More
        • ...
          Economic Inclusion
          Pacesetters

          We are developing an ecosystem of corporations and partners with the influence and buying power to transform economic inclusion for minority business enterprises (MBEs).

          arrow-go
          Read More
        • ...
          Small Business
          Small Business

          Small businesses are the backbone of the Boston economy. Learn more about the resources available through the Chamber.

          arrow-go
          Read More
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          Read More
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          Read More
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          Read More
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          Read More
  • Our Networks
        • GBCC’s Networks

          • Overview
        • OUR NETWORKS

          Small Business

          Small businesses are the backbone of the Boston economy. Learn more about the resources available through the Chamber.

          Read More
          City Awake

          City Awake empowers young professionals in a variety of ways that encourages these rising leaders to stay invested in the region’s future success.

          Read More
          BIMA

          BIMA (the Boston Interactive Media Association) serves a vibrant community of like-minded professionals from agencies, brands, publishers, and ad-tech companies with business interests in the New England market.

          Read More
          Women’s Network

          For over 30 years, the Chamber’s Women’s Network has connected female professionals of all background and career levels. Today, our Women’s Network is the largest in New England, strengthening the professional networks of women each year.

          Read More
          Massachusetts Apprentice Network

          The Massachusetts Apprentice Network convenes employers, training providers, and talent sources interested in developing and implementing apprenticeship programs in occupations across industries and statewide in fields such as tech, advanced manufacturing, healthcare, financial services, and more.

          Read More
          Pacesetters

          We are developing an ecosystem of corporations and partners with the influence and buying power to transform economic inclusion for minority business enterprises (MBEs).

          Read More
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Five strategies to increase profit

Learn More

 

Most businesses seek to increase their profit year to year. Here are five cumulative ways you can look to increase your bottom line.

 

1. Increase your leads

 

First, build a larger pipeline of prospective customers by:

  • Identifying your most successful promotional tactics and repeat
  • Identifying your best customers and contact them directly (if possible)
  • Attending industry events and conferences (virtual and physical) to meet potential customers outside their work environment
  • Ensuring your website is set up to generate new leads
  • Developing new distribution channels – think about using agents, licensing your goods, or utilizing a new distributor
  • Asking current clients to provide referrals
  • Actively ask people to get in touch by creating calls to action or incentives through promotional materials, your website, blog advice, social media platforms, and free trial offers
  • Running webinars or speaking at events
  • Creating thought leadership content, whitepapers, blogs or opinions, and syndicate in social media

Anything you can do to get in front of new customers is a valid tactic.

 

2. Convert more of your leads into customers

 

Once you have more leads, increase your conversion rate (the number of leads divided by the number of confirmed customers). To help achieve this, try:

  • Training staff on selling techniques and closing methods to help them convert
  • Providing staff with incentives or bonuses for higher conversion rates
  • Running demonstrations for potential customers to see what you have to offer and how they could benefit. Sign them up
  • Develop content where potential customers need to register to access, providing you a more qualified leads list
  • Create offers to encourage customers to buy.

3. Increase the number of items you sell per customer

 

If you can entice your customers to buy just one more item, or hour, or extra service from your business, your sales (and your profits) should increase. On-selling additional items is a tried and true tactic to improve profit.

Tactics include:

  • Adding impulse or lower cost products at checkout (physical and online) or a final sell when closing
  • Asking customers what else they would be interested in buying from you and then widen your product range to accommodate their needs
  • Bundling products together or prompting at check out ‘other people also bought XYZ’
  • Adding services if you sell products, adding products if you sell services.

 

4.Increase your average sale

 

If you can increase the average value of each sale, you should directly improve your profit (unless you’re selling any items for less than they cost).

To increase your average sale, try:

  • Ensuring your highest margin products and services are prominent on your website, and they have the most promotional budget allocated to selling
  • Training employees to know which products have the highest margins and then incentivize them to sell more
  • Increasing prices as even small improvements will show direct profit results
  • Profiling higher margin products on your website and allocating higher advertising dollars to their promotion
  • Introducing new premium products or services that have a higher value.

 

5. Increase net profit percentage

 

Net profit can be improved by looking carefully at your gross and net margins.

Try these tactics to improve your net profit:

  • Review all of your main suppliers and determine if you can swap any out for lower cost provider (though check cheaper suppliers can match the quality and service you expect)
  • Re-tender to contractors or ask suppliers to re-quote if you believe there are savings to be made
  • See if you have any components or parts of your business that can be sub-contracted out to cheaper suppliers
  • Identify your top five overhead costs to find savings. Overheads such as power, insurance, office supplies, internet, subscriptions and communications often reduce in price year by year. Make sure you’re getting these reductions
  • Trim any other costs that you may no longer need.

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