How to Increase your Profits?
- Shk Husein M Noman
- Jun 20, 2020
- 1 min read
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
Published:Mar 26, 2018 Last Updated:Jan 23, 2020 by Annie Pilon In Startup
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