by Varun Datta (UK)
It is true that ‘profit’ is the only thing how we can keep score in business. Merely penning down profit into your business’s financial section doesn’t mean it will happen instantly. As a small business entrepreneur, you should be careful, because increasing your overall profit for the year often requires enhanced sales. If you are not careful, the cost of these improved sales will lead to the decline in profit. So, here is how you can increase your small business profits in 2018-
- Streamline Management Costs
- Look for Efficiency Gains
- Offer warranties & maintenance contracts
- Use information marketing to attract new leads
Source: iCN Issue 23 (Coaching Tools, Tips & Techniques); page 96
About Varun Datta
Varun Datta is a renowned entrepreneur who is also the Founder & Chairman of 4New Ltd. He has a wide range of experience across different continents like Asia, Europe and North America.
