How To Increase Your Business Profitability In 10 Steps???

Re: How To Increase Your Business Profitability In 10 Steps???

Hello
Thanks you for sharing this wonderful information .I really want these information to increase my business.

Thanks

Re: How To Increase Your Business Profitability In 10 Steps???

Hello Friends....

Profit planning offers many advantages to your business

1.The profit plan provides a continuing standard against which sales performance and cost control can quickly be evaluated.

2.With the profit plan, personnel are readily aware of their responsibilities for meeting sales objectives, controlling costs, and the like.

3.Since cost excesses can quickly be identified and planned, expenditures can be compared with budgets even before they are incurred, cost consciousness is increased, reducing unnecessary costs and overspending.

Thanks

Re: How To Increase Your Business Profitability In 10 Steps???

The points you have shared are really helpful. Thanks for your effort 🙂

Re: How To Increase Your Business Profitability In 10 Steps???

Hello to all

Hi, Angel thanks for sharing such useful tips.
These are some others tips :
1) Accurate management information must be available, in the form of management accounts and a realistic, professional business plan.
2) An audit of your business expenditure over the last 12 months can often reveal areas for considerable savings.
3) Make sure you're in total control of your waste, many companies can realise a serious financial benefit by controlling office, warehouse or factory waste.
4) Analyse the culture within your organisation, how could a change of attitude or behaviour within your company increase efficiency and reduce waste?
5) Negotiate with your suppliers and don’t be afraid to look at alternative suppliers to reduce costs.

Thanks for sharing and reading
Have a nice time ahead

Re: How To Increase Your Business Profitability In 10 Steps???

Hello Friends....

Steps to Zoom to Business Success

1.Successful entrepreneur traits, pros and cons of business ownership, start-up checklist, how to identify what business is right for you

2.Components of the business plan, the simple way to finish your business plan, avoid business plan mistakes, uses of the plan

3.Organization of your business, the name and image, legal structure, types of ownership, franchise options, buying a business

4.Site selection, location choices, home-based business, zoning, leases, equipment

Thanks

Re: How To Increase Your Business Profitability In 10 Steps???

Hello

Hi Angel ! That are really great tips for all. Thank you for sharing such information. This will be going very useful to all. Please keep sharing.

Have a great day
Thanks

Re: How To Increase Your Business Profitability In 10 Steps???

Hi all

Web site advertising now is a must.

A business with no web site presence is left behind other competitor.

thanks

Re: How To Increase Your Business Profitability In 10 Steps???

Hello

1) What happens next? : Analyze your target audience’s problems. Quite often once your product solves the problem you believe your audience has, you think you’re done. However, if you ask yourself what happens next, you’ll be on your way to brainstorming new ways to promote your product and new products to promote.
2) Follow-up: Repeat sales and upsales are the key to retaining customers. Don’t neglect the follow-up. Autoresponders, newsletters, and special promotions all help keep you in touch with your customers and at the front of their mind.
3) Stay on top of trends in your industry: Reading industry publications, blogs, and using online trend tracking tools will help you stay at the top of your industry. You can use this information to capitalize on trends and offer products and services as they’re becoming popular and in demand.
4) Network: Online and offline networking is a great way to take advantage of new opportunities, meet potential partners who can help you expand your business and to connect with your customers. Attend networking events, conferences and seminars offline, and participate in social networking, forums and chat rooms online.
5) Evaluate your spending:It’s often quite easy to increase profitability by simply analyzing what you’re presently spending. Could you save money by consolidating your software accounts into one system? For example, if you have an autoresponder account and a shopping cart account, they could be combined by using a service that provides both.

Have a nice day

Re: How To Increase Your Business Profitability In 10 Steps???

angel123;42303 wrote: Hello
1. Focus On Marketing
There is no business without a marketing plan. Think about it, without advertisement, where would your business be? Just build up a thorough plan, that includes promotions, advertising, as well as making other new partners, and keep to it. The result will pay off your effort.

2. Be Hands On When Asking For A Sale
Being polite and mannered does not mean that you should not ask people for their business. Actually, this is all that is about. Dont do it in a way that will make you uncomfortable, but present your future partner the benefits they will get from buying from you. Be prepared for rejections, but dont focus only on them. Explain your business and stand up for it.

3. Add Value By Asking For Help
The ways business is done today may take us to places we have never been before. In such situations, one may feel insecure and, for real reasons, unprepared to face the new challenges. There is one way to do it properly, however: just go ahead and ask for professional help to get you through the issue, without you ending up hurting your business.

4. Keep Up With Old Friends
Dont ever forget about your old clients, which, in a way, are like old friends. It may sound easy to make new ones, but the old ones are your strong base. Reward them with loyalty plans and special offers, and show them that you need their business every once in awhile.

5. The Knowledge Of Cutting Costs
Not everything you spend on your business is of the utmost importance. It is much more important to see where costs can be adjusted. Dont hesitate to do that, it will save you money!

6. Forget About Fancy Marketing
Profitability does not necessarily come in a glossy package. You may be impressed with some companies ability to handle large promotional campaigns, with fancy advertisement, but if you do not have one thing to sell, or you do not conduct your business directly, this would be just wasted money.

7. Dont Waste Your Time On Petty Assignments
Your time is precious, you have places to go, people to see; yet, it seems that the most part of the day, you feel trapped in doing boring office work. Imagine how much you can do for your business in all that time. So whats your conclusion? If nothing pops into your mind, we tell it to you: hire someone to do the menial tasks, while you focus on increasing the companys profitability.

8. Know Your Price
Profitability means exactly that: profit. But how can you make profit when you sell yourself short? This does not mean that you should sell yourself out of the market, but doing the opposite will not help you, either. So, try to get rid of the poor business you have been doing lately for little money, and go for bigger fish, with no regrets. It will pay off.

9. Technology Is On Your Side
Luckily, we are living an age of great technology advances, that, in the business world, translates in savings and profit. Get the newest software and gadgets that will make your life easier. You will become more efficient and you will even save more time for yourself.

10. Throw Antiquated Ideas To The Trashcan
There is no need to stick to an outdated plan, if it proves to have lost its shine. Instead, go for new stuff, for new ideas, that will save your business and your day. Take some courses on business profitability and learn from professionals how to do it best.

That's a Great Post angel Which you have Shared here With us about business Profitability,I Found this Post Very Informative.

Keep sharing,
Thanks & Regards,
Anne.

Re: How To Increase Your Business Profitability In 10 Steps???

Hi
you have posted a very appropriate link with some very good points.
But still the requirement is hard work to apply there skills.

Re: How To Increase Your Business Profitability In 10 Steps???

hello.

Thanks for the nice tips and information here by you ..
Good Luck and keep on posting here..

Re: How To Increase Your Business Profitability In 10 Steps???

Thanks for providing such valuable information, its really important to share your knowledge with other i really appreciate your effort, i am also agreed with mark hard work is key to success byt you need skills and finances as well:D

Re: How To Increase Your Business Profitability In 10 Steps???

Hello friends

To Increase Your Business Profitability In 10 Steps
1. Focus On Marketing
2. Be Hands On When Asking For A Sale
3. Add Value By Asking For Help
4. Keep Up With Old Friends
5. The Knowledge Of Cutting Costs
6. Forget About Fancy Marketing
7. Dont Waste Your Time On Petty Assignments
8. Know Your Price
9. Technology Is On Your Side
10. Throw Antiquated Ideas To The Trashcan

Thanks for sharing us

Re: How To Increase Your Business Profitability In 10 Steps???

For an in-depth view of multiple approaches for improving productivity and efficiency have a look at the 50-page report at: http://www.docstoc.com/docs/19472560/Unlocking-the-Productivity-Potential-of-Your-Business

Alan Jackson
The Better Business Bureau Ltd.