25 Ways to be More Profitable – Conclusion
The final installment in this profitability series focuses on two often-overlooked issues: growing faster than your working capital can support and misaligning people with the wrong responsibilities. Sustainable growth and role fit can directly improve profit.
25 Ways to be More Profitable – Part 13
Here are profitability ideas for sales, marketing and customer activities. #21 – Know which of your marketing activities produce the best results Effective marketing is a combination of the right message sent to the right target customer using the right medium. Right...
25 Ways to be More Profitable – Part 12
These activities focus on billable hours or revenue producing hours. Customers write your paychecks. Your team members who produce your products and services are billable, i.e. revenue producing. Here are profitability ideas for increasing billable hours. #18 – Know...
25 Ways to be More Profitable – Part 11
Here are the next two ways to increase profitability. Your balance sheet tells you whether you are really profitable. Your P&L just tells you whether you are profitable for a specific period of time. The three ratios that I write about this week are called...
25 Ways to be More Profitable – Part 10
Here are the next two ways to increase profitability #14 – Eliminate Warehouse Supermarkets I watched a technician walk into an unlocked parts room, choose the parts he wanted, and leave with an armful. He didn’t write down what he took. He didn’t let anyone know what...
25 Ways to be More Profitable – Part 9
A couple of years ago I told you my story of trying to find the company that had done a phenomenal job cleaning the rug that has been in our family for more than 50 years. Initially they didn’t include any way to get in touch with them – no business card, no ongoing...
25 Ways to be More Profitable – Part 8
#11 – Your Monthly Productivity Ratio Your employees are key to your profitability. If they are productive, then you have a better chance of being profitable. What do I mean by productive? Their time is billable to your customers. It is not spent in sweeping the...
25 Ways to be More Profitable – Part 7
This article kicks off a two-part series offering 25 proven ways to boost profitability. These are straightforward, often-overlooked strategies that focus on smarter decision-making, reducing waste, and tightening up operations—so you earn more without sacrificing more of your time or money.