by | Feb 19, 2016 | Business Profit & Cash Flow Tips, Sales & Marketing, Small Business Owners
Setting up a well-thought-out customer call-back department can dramatically increase just about any business’s sales. One of the first businesses I coached was a high quality portrait studio. When customers picked up their portraits, they were offered...
by | Feb 18, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Small Business Owners, Small Business Success Series
Annual plans are generally used by business managers to help direct the business over the course of the year. Developing an annual profit plan enables you to: Make crucial business decisions that focus your activities and maximize your resources....
by | Feb 16, 2016 | Business Profit & Cash Flow Tips, Cost Cutting, Small Business Owners
Many times I will review a client’s income statement and discover that they increased their sales but had a higher cost of goods sold percentage, resulting in lower profits. The first and most obvious thing to look at is the product prices. Have they increased...
by | Feb 12, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Small Business Owners
Business owners often use outside accountants to audit their books to make sure they are recording business transactions correctly. Business owners should "audit" their customers to determine if they are happy with the company and plan to buy from the...
by | Feb 10, 2016 | Business Profit & Cash Flow Tips, Sales & Marketing
If you are billing by the hour—stop! Your customers hate it and it doesn’t reward you appropriately. It also often stops you from upselling additional services. And let’s face it—you and your employees both hate tracking your time. Your customers really...
by | Feb 2, 2016 | Business Profit & Cash Flow Tips, Cost Cutting, Small Business Owners
Increasing sales is important to any profit enhancement plan. But cost reduction cannot be left out. If you are operating on a 10 percent net profit margin, a $1 cost reduction is equal to a $10 increase in sales. To achieve lower costs you should...
