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1. How to increase profit in a bad business
economy

2. How to increase profit in a bad business economy
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Is your profit and loss report increasingly in the red? Many small
to medium business owners and managers are watching the
same sinking trend as they struggle to prop up business
profitability. Here's a powerful way approach to that problem that
can revolutionize how you build your business.
Identify Key Factors: The first step in getting control of
plummeting profits is identifying each key area of your business
and recognizing how it affects profits. Many owners of small to
medium businesses haven't fully grasped the impact key business
processes such as shipping and product pricing have on the
bottom line.
This isn't so hard to understand when you consider that the
average small business owner wears multiple hats throughout the
day. It's hard to focus on a more profitable shipping method
when you're putting out fires in production and marketing.
Finding a good business planning tool is the first step in
identifying what's shrinking your profit margin. Easily understood

3. How to increase profit in a bad business economy
online business tools are coming of age as small business owners
race to maintain profitability. Find a business analysis tool that's
customizable for your situation and start feeding it information
about how your business runs.
Analyze The Results: Once you've created an online snapshot of
your business operation, it's time for some analysis. Which
business processes have shown a sharp increase in expenses,
without adding income to your bottom line? Which departments
are profit-neutral but play a key support role for other profit
centers?
Here's an example of how a business owner might analyze her
key business factors: A mailing services firm finds her pricing is
no longer competitive, but that they still lead the local market in
delivery time. The loss of business to the competition has the
owner wondering if employee layoffs are inevitable in order to bid
more competitively.
With the help of an online business analysis tool, she documents
a steady creep upward in packaging expense over the past two
years. She also sees that the cost of fuel, vehicle maintenance

4. How to increase profit in a bad business economy
and uniforms are primary factors in the firm's declining
profitability.
Make Decisions Based on Reality: With these trends well
documented, this business owner can begin to make decisions
about her business. Rather than immediately reducing her
workforce, she uses her business productivity improvement
system to project the impact of making changes in these areas.
Could she, for example, realize savings in uniform, fuel or vehicle
maintenance expense by securing bids from other vendors? Is the
increase in packaging expense really driven by the paper
manufacturing market, or are other suppliers offering better
pricing?
With those savings in hand, she can determine how much
decreasing the rates she's charging will impact her bottom line.
The key is deciding which modification in the way she does
business will improve business profit most significantly.

5. How to increase profit in a bad business economy
The need for this deliberate review and reflection about business
profitability might seem obvious to some, but many small to
medium business owners find it difficult to stay on top of every
aspect of their operations. That's the beauty of employing an
intuitive business profit increase system to analyze key business
factors.
Doing so removes the guesswork and saves you, as a business
owner, time better spent developing new products and marketing
them. That, after all, is the way your business will remain
competitive in today's challenging marketplace.
Turnaround your business! Strategically attract investors, create value for your
clients and boost business profitability. Click here

6. How to increase profit in a bad business economy
Chris Robertson is an author of Majon International, one of the worlds MOST popular internet
marketing companies on the web.
Learn more about Improving Business Profit.
Article Source:
http://EzineArticles.com/?expert=Chris_Robertson