How to Maximize Your Business Efficiency (and Improve Your Profits)
If you’re like most business owners, your focus is probably on bringing in revenue. After all, revenue is the life-blood of your company. The more revenue coming in – the more profits your company will show, and that’s a good thing.
But it takes more than an eye to revenue to succeed. Even if you bring in very high revenues, if the revenues come with high expenditures attached, you’ll find that your business is not sustainable over the long haul. Remember that PROFIT = REVENUE – EXPENSES. This means that there are two ways to enhance profits: (1) increase revenue in cost effective ways; and, (2) decrease expenses.