How to drive more profit to your bottom line
The Chronicle’s Business Blog / Jerry Bellune
Are you happy with your business’s bottom line? We never are. I mean NEVER! If you are happy with yours, take another look. Over time your costs rise and with it employee and your own pay. What is the annual net percent of gross for companies your size in your industry? What are their average payroll costs as a percent of gross? How about the average costs of your other expenses? You may have to raise prices to stay even or to do what others in your industry do. What if you sold fewer products or services at a higher profit margin? Would that increase your net profit? What if you sold more at a lower profit margin? Would that increase your profit? What if you raised prices on your most popular products or services, raised productivity and decreased waste. Any one of these can increase your profits. One step we are taking is a hard-nosed approach to our operating costs. We aim to shave those costs $100 a day. With 260 work days a year, that will add $26,000 to our bottom line. If you did that, what would it add to your bottom line? We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.” For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com .
Copyright 2019, The Bellune Co., Inc.