Guide

Strategies to improve sales and profitability

Introduction

Profit, or net income, is the amount of money your business has after you take away all the costs and expenses. Your ability to generate enough sales to make your business profitable can significantly improve your chances for growth.

There are four key strategies that you could try to maximise your sales revenue and profitability. You could look at reducing business costs or increasing turnover, productivity and efficiency. Often, even small improvements in these areas can make a great difference in your profit margin.

You could also consider making more significant changes to your business. For example, you could enter enter new markets to increase profits or develop new products or services.

This guide explains how to assess your business' profitability and the different ways you can grow your profit margins. It shows you how to develop strategies to increase sales revenue and gives you ten tips to increase profits in your business.