THE 7 STEPS OF OUTRAGEOUSLY SUCCESSFUL ENTREPRENEURS # 7

OPTIMIZE, OPTIMIZE, OPTIMIZE

Successful entrepreneurs make money two ways: Increasing sales and managing expenses.

Increasing sales does not necessarily mean more profits. In order to make sales profitable, you need to know the profitability of each product or service you offered? Do you know what customers are the most expensive, demanding or time-consuming to serve? If you doubled your customer base, do you know the implications on costs, revenues and the operations of your business? Knowing these answers are essential in making sales growth profitable.

As sales grow, there should be a focus on reducing, or at least managing expenses, and to optimize and streamline operations. Seeking to make operations better, faster, cheaper is the holy grail of profitability by maximizing the performance/expense tradeoffs.

To optimize your business results, think highest and best use of your time, energy and money.

Next up…..Bonus thought.