Increase Your Profits With These Simple Tips
Episode 218 – The Local Small Business Coach Podcast
17 Ways to Increase Your Small Business Profits Tomorrow
After having spent the past few episodes on creating more sales, it is time to start working on creating more profits! Remember, it isn’t about how much you take in for sales, but more about how much you keep at the end of the day!
Now, there are long-term fixes to create more profits and there are things you can do to start creating more profit immediately. In this episode, we dive into the 17 items below a little deeper and how you can start earning more tomorrow!
- Raise Your Prices
- Dive into Your Profit & Loss
- Look at Your Travel Criss Cross
- Wasted Time / Not Having Everything
- Cut Down Waste
- Doing Jobs Twice
- Eliminate Products / Services That You Don’t Need or Cost Money
- Eliminate Dead Weight / Unproductive People
- Pay Off Debt – Eliminate Interest Payments
- Don’t Buy It If You Don’t Need It
- Feeding Jobs to Your Best Crews
- ID Best Margin Products or Services and How To Drive Sales
- Challenge Employees to Find Wasted Money
- Happy Employees Care More
- Fire Your Worst Clients or Customers
- Add On Items That Will Bump Your Margins
- Warranties You Can Add to Services
While some of these items might get you’re a few hundred dollars, some will lead to thousands. Especially if you build upon the momentum you start.
So if you are ready to start creating more profits, then grab a pen and start listening!
Quote of the Week: “Profit Is Not the Legitimate Purpose Of Business. The Legitimate Purpose of Business Is To Provide A Product Or Service That People Need And Do It So Well That It's Profitable.” – James Rouse
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Start Earning More $$$
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Don’t You Think it is Time You Start Making What You Deserve!