How to increase profits in your business (part 1)

If you are an entrepreneur, then you simply have to constantly ask yourself the same question – how to increase profits? Profit – this is business. The whole point of the business is to increase profits. I don’t know other reasons for doing business. Whoever says anything. There are only five ways to increase profits in business, according to business expert Paul Lambert (the so-called Formula Five). Further we will consider them.5 ways to increase profits
1. Increase Margin
The same Paul Lambert said that business is not to sell more, but to earn more for yourself. And the more you can get from your business, the more successful your business is. And vice versa. As you understand, there are two ways to increase margins and, accordingly, increase profits: either sell more expensive, or buy and / or produce cheaper. Continue reading →