How To Increase Business Profits
1. Improve Collections. Rather than wait for a bill to be past due, call the customer the day before the payment is due.
2. International Payments. Payment is slower in other countries. So, if you do business there, you better adjust your prices to reflect these slow collections.
3. Accounts Payable. With each vendor, work out an agreement to delay payments or spread them out.
4. Improve Cash Flow. By improving cash collections and delaying cash payouts you have improved cash collections.
5. Save Pennies. Reduce costs wherever you can.
6. Reduce Cost Of Your Office Supplies. Go through your past invoices and highlight the office supplies that make up 80% of total dollars spent.
7. Telephone Control. Make sure you are getting six-second increment billing with no minimum per call.
8. Your 800 Number. Consider a toll-free telephone number for customer service or to tie locations together seamlessly.
9. E-Mail Rather Than Telephone. Use e-mail rather than playing telephone tag and incurring unnecessary long-distance telephone charges.
10. Do Your Own.
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