If you spend any time in the mainstream media world, you’ll see a large amount of reporting around big companies, turning big profits, who are not conducting themselves in the most moral fashion.
It is these companies that often cause people to associate the word ‘profit’ with the negative connotation of corruption or commercialism.
But, for business owners, profit is what you need to survive.
Profit is important!
This should be fairly obvious to business owners, for a number of reasons.
- You invested time, money and effort in your business and therefore should be rewarded accordingly.
- Without profit, you are not able to repay your loans, creditors or other financial obligations.
- Without profit, you don’t have the funds available to grow your business.
- A decent profit = a decent night’s sleep! You will be more relaxed, and even have a bit more time to spend with the family, if you make a decent profit.
So, how can you improve your profit?
The first step towards improving your profit is understanding the ins and outs of your business. Things like:
- A clear understanding of your business profit drivers
- Knowing your Gross Profit Margin (GPM)
- Being aware of your business break even point
Looking for a starting point? Knowing whether your business expenses are comparable to your industry’s benchmarks is a good place to begin.
The value of a Profit Improvement Plan
If all of this seems overwhelming and you’re not sure where to start, don’t stress. The team at DFK Everalls can get you on track with a Profit Improvement Program (PIP) with a range solutions to fit your business model. A PIP helps business owners to achieve greater rewards from their business by fine-tuning all areas of their business and focussing on ways to grow the business.
Our service works by starting with small, incremental improvements that add up to a big result. Then we can look towards your future, and outline the steps towards growth.
Contact us today, to begin the process! We look forward to working with you.
