https://fisherswale.com/wp-content/uploads/2013/12/header-logo.png 0 0 Fisher Swale Nicholson Eye Center https://fisherswale.com/wp-content/uploads/2013/12/header-logo.png Fisher Swale Nicholson Eye Center2012-01-25 14:34:402017-10-25 17:33:4110 Keys to Increasing Profits in Any Business
- Cut overhead by automating almost everything, accounting, reporting, voicemail, ordering, fulfillment, customer service, and sales.
- Cut variable expenses by negotiating with suppliers. If you’re seeking higher profits, you’ll need your suppliers to reinvent themselves too! The smart suppliers will be empowered by your request.
- Cut variable expenses by redesigning (re-engineering) how work gets done/how the product is produced. This should be a continual process and second nature to you.
- Increase productivity by expecting 50%-100% more from everyone. (Yes, really. THAT much more.) And give them the best tools and training needed to produce more, without stress.
- Leverage your strengths by extending the product/service line. If you can easily add supplemental products or customized versions at the same profit margin, your overall profit should increase.
- Each quarter, challenge your assumptions about your industry and your company. Profit is ALWAYS temporary. What keeps profits increasing long term is staying in touch with an always-changing marketplace/industry.
- Experiment with new ideas, new types of products and new processes. Invest 1% of sales into making boo-boos, radical experiments, intuitively-based decisions, think tank getaways – whatever is beyond the 9 dots.
- Have and hire only employees who continually impress you with their initiative and competence. Let everyone else go. Increasing profits come from great employees, not average ones.
- Turn your customer service department into the R&D department of your company.
- ASK your best customers what they want/need from you.
Source: Top Ten Business @ lists.dailycast.com (May 23, 2000)