: Critical Questions- profitable
How do I make my business more profitable?
the often quoted: The best defense is a strong offense.
wherever you draw your business wisdom or find your mentors. Whether
it is from military analogies or the quotations of great sports figures.
Whether it is from the philosophy of Sun Tzu the great Chinese general
as cited by Michael Douglas in the role of Gordon Geko, in the movie
Wall Street. There is a constant theme: the best defense is a strong
a Marketing Plan
The key to marketing your business is to understand exactly who needs
your product or service and when they need it. Once you you have a
clear focus on these two important pieces of information, build marketing
plan that commits a fixed amount of money to telling your potential
clients about your service timed so that they can take advantage of
your offer. A marketing plan must deliver a compelling, expert message
to your clients that consistently reinforces your positive image.
Stick with your marketing plan while it builds the value of your firm.
Track the results of your marketing effort and measure the cost of
the plan against the business it brings in.
reductions do have short term positive results in improving cash flow,
but may have long term adverse effects that can be exponentially more
difficult to overcome than to initiate.
reductions are often necessary to adjust to present product or service
demand. The cost and time to recruit and train and the customer service
and opportunity cost for missed and late deliveries.