Your profit improvement potential
There is always scope to improve your business profitability.
Analyse your profit improvement potential and plan your campaign.
In every industry, whatever of the state of the economy, there are some businesses that consistently out-perform others, not by small amounts but by staggering amounts. This is called the margin of excellence. They have got it right.
Close enough is NEVER good enough. Improved business performance comes from a willingness to do something different and then to get the detail right.
Consider the potential in your business to improve your profitability:
> find out what your customers want
> systematise your business
> identify key performance indicators (KPIs) for your business and set your goals to improve profit.
Analyse your current business performance in terms of sales, fixed costs, and margins.
Estimate how changes in these key variables could improve your profit improvement potential.
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