Strategies to improve sales and profitability
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, entering new markets to increase profits or developing new products or services.
This guide explains how to assess your business' profitability and the different ways you can grow it. It shows you how to develop strategies to increase sales revenue and gives you ten tips to increase profits in your business.