“Profit is like oxygen, food, water and blood for the body; they are not the point of life, but without them, there is no life.” James C Colins.
We run businesses to make profit so we can do the things that are important to us. Without it, nothing can be achieved.
Here are 6 points that can be achieved that can enhance your profit with little effort from you.
- Safety Culture - FIRST. Staff who know and feel they are working in safe Physical and Psychological Environments – Generate better results for their clients and therefore their employer!
- Little Levers – One Percent Achievers Look at small, smart moves that grow your margin – because little changes can often generate profit improvements.
- Quality Service – Profits Follows. Take every decision based on how it will impact the delivery of Quality Services, Staff Engagement and the Bottom Line. Quality Services generate repeat business, retain staff and grow profits.
- Strategic Losses – Losing Money on Purpose. It’s OK to lose money when you plan to do so and when the project or activity will make a return.
- The Business Cookie Cutter The key idea – Standardise what drives Consistency, efficiency & Reputation.
- Day on the Balcony Take one day each month away from the business and look to see what was achieved, what needs to be done and how will these actions impact the bottom line. Get away from the business, either on a balcony, the beach or even the garden shed.
6 simple ways to improve your profitability. Want to know more about how to improve your business profitability, contact Optima BIS.
First published on LinkedIn (opens in a new window)
