A Guaranteed way to Boost Your Profits!

12/9/2019 9:24:39 AM Link |  | Add comment

There’s really only one guaranteed way to boost your profits. That is to reduce your expenses. Do you really need fancy office furniture or a gas guzzling SUV to effectively run your business?

Business follows a very simple formula

Revenue – Expenses = Profit

Sure we’re all trying to grow revenue, but it really pays to invest some time in reducing your expenses. It will have the same effect on your profits.

Have you signed up for services that you continue to pay for but never use? Stop! Call the vendor and ask them to cancel your account. $9.99 a month, $29.95 a month and $199 a year may not seem like much, but they add up quickly. If you’re not using these services or they’re not adding to your bottom line, then cut them out.

Look at the effectiveness of your marketing and advertising. You can use your Levelfield website to track the success of many of these campaigns. Just use the reporting feature to see if your efforts are creating more traffic, more quote requests and more business. If they’re not you should either look at how you can improve what you’re doing, or stop doing the things that aren’t working and reinvest that money where it will work.

I could go on and on. Look at each expense in your business and ask yourself: “is this necessary? Is this adding to my bottom line?” If it’s not then you have an opportunity to increase profits.

Find an expense you can cut right now and increase your profits! I guarantee it will work.

Jude Samson
President
Levelfield, Inc.