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How to Increase your Profits?

Updated: Jun 21, 2020

Do Calculate the Exact Costs for Your Business

Don’t Spend Too Much Time on Low Value Activities (payroll, accounting, invoicing, scheduling)

Do Automate Where Possible

Don’t Rely on Paper

Do Track Your Time

Don’t Forget About Your Team spending Time

Do Analyze Your Finances Regularly

Don’t Undercharge Customers

Do Make Buying as Easy as Possible for the Customer

Don’t Focus Too Much on Bringing in New Customers

Do Prevent Theft and Waste

Don’t Rely on Constant Discounting

Do Look for Ways to Increase Minimum Order Prices

Don’t Keep Excess Inventory on Hand

(Get rid of Deadstock)

Do Give More Opportunities to Top Sellers

Don’t Overlook Supplier Price Hikes

Do Negotiate Constantly

Don’t Pay for Costly Services and Activities

Do Confirm Service Calls (For service business)

Don’t Undervalue Your Time (Service Business)

Do Focus on Providing Great Service

Don’t Continue Marketing Activities That Show Minimal Results

Do Track the Performance of Everything (Marketing to Delivery)

Don’t Go After Every New Opportunity That Sounds Exciting

Do Focus on the Big Picture

25 Do’s and Don’ts to Make Your Small Business More Profitable

Published:Mar 26, 2018 Last Updated:Jan 23, 2020 by Annie Pilon In Startup

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