An Urgent Need to Increase Profits


An Urgent Need to Increase Profits

Fortunately, we have never experienced an urgent need to increase profits. Understanding our cost structure and revenue streams coupled with long term planning has kept us away from that need. However, should an urgent situation ever arise, when you need to increase profits in a relatively short period of time, our strategy would most likely include a Sales blitz or the addition of a Sales person (100% commissions). Likewise, if a crisis in the company forced us to reduce expenses in some way, we would never look to cut people firstthey are simply too valuable to us. They are too tough to find, train and retain. We would perhaps cut hours, defer compensation or possibly change a/p policy. We would perhaps reduce my pay for a period. However, for any of these emergency situations to occur, it would have to mean our plan was way off or wrong.

More generally , utilizing technology is an obvious way to help increase profits. First, automate as much as possible, which reduces the need to add staff as work loads peak. Technology should level out spikes in expenses caused by having to add staff. Our objective is for the expense curve to be as smooth and predictable as possible. Second, make technology available to clients for communication and self-service (where appropriate), thereby adding value and reducing costs.




Inside the Minds Stuff - Inside the Minds. Managing for Profit. Leading CEOs on Key Strategies for Increasing Profits Exponentially in Any Economy
Inside the Minds Stuff - Inside the Minds. Managing for Profit. Leading CEOs on Key Strategies for Increasing Profits Exponentially in Any Economy
ISBN: N/A
EAN: N/A
Year: 2004
Pages: 130

flylib.com © 2008-2017.
If you may any questions please contact us: flylib@qtcs.net