Business Success : Critical Questions- profitable

How do I make my business more profitable?
75% marketing :

  • Remember the often quoted: The best defense is a strong offense.
  • From 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 offense.
  • Building 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.

25% cost reduction:

  • Cost 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.
  • Workforce 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.
  • Temporary workforces.

 

 


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