More Ways Than One To Boost Profit
Updated: May 16, 2018
More often than not business owners rely on boosting profits by increasing revenues. That maybe a great strategy as after all who does want to increase sales? However, in our view most of the time the fruit of a tree can be picked by shaking it a bit and letting the fruit fall at your feet vs climbing the to reach fruit at the top.
There is a good reason why we offer our ROI guarantee (at least 20% return on fees charged within 12 months) as a result of discovering most business don't adequately plan ahead nor maintain a financial forecast. As a result, their likely exists many inefficiencies or opportunities to improve profits by either focusing resources more appropriately to maximize return, reduce costs, improve processes, reduce cash cycle etc. Examples, of clients we helped in these areas had to deal with understanding their cost structure first, breaking a business into profit centers and figuring out how & where a business is generating its profits. The rest is then a matter of emphasizing where to focus resources to maximize profits. That may include directing sales & marketing practices to certain products, cost reducing others and expanding or existing business segments.
Recently, we had a construction contractor client who came to us because they felt the should be more profitable. In turned our since they didn't break their business into profits centers (ie residential & commercial) they failed to recognize one was profitable and one wasn't! After further strategy sessions they decided to exit the unprofitable segment to emphasize the profitable one thus doubling their overall profitability! To gain from our insights please contact us or sign up for email updates via https://www.charlotteconsultantservices.com/news-update.