How to do things better? – Increasing your Business Profitability

All business-owners are focused on improving their companies  in one way or another. Motivated by passion or competition, companies understand that if nothing is invested into improving the business, it will stagnate – affecting both productivity and profitability.

However, it’s  easy to say that you need to improve your business; but how do you actually achieve this? The questions below will help guide your improvement process.

Steps to Improve Your Business

1. Identify an area of your business that needs it.

It’s virtually impossible to improve every aspect of your business all at once. Instead, focus on a key aspect that you’ve identified to make improvements in. This may be in  sales, marketing, admin, reporting, accounting, production.  So go for it.  Make a list.  Don’t be surprised if it encompasses a good portion of the business.

2. How Will Improving it Affect Your Business?

Look at the improvement as a whole. How will it impact your entire business? Does it bring you any closer to achieving over-reaching goals for your company? Will it boost productivity, assist staff retention or raise profits? Always examine the bigger picture.

3. Identify how you’re going to do this.

Once you’ve identified an area to improve, work out exactly what you want to achieve. How can you measure the success of the improvement? How can you identify what steps to take in order to make this improvement a success? Does this improvement yield the results you want? If not, you may need to revisit your ideas.

4. Is this Achievable?

Can you manage this by yourself or with your team? Do you have the available resources to put this improvement into practice? What level of expense is involved? How much time will it take? And, very importantly, will it impact negatively on other business practices?


The Value of Asking for Help

At times, it’s more cost-effective to ask for help than to attempt to make changes yourself. In my book, From $20k to $2 million in 2 years, I explore the advantages of gathering a team around you – especially when it comes to implementing effective improvements. The book also focuses on the common traits of successful companies I’ve worked with over the years, and exactly what it is that makes them successful. To get a FREE preview, simply click here . If you’d like to get a copy for yourself, order a copy here.



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