Boost The Financial Profitability Of Your Business

Be Obsessed With The Margin

Today, business leaders are almost all obsessed with the growth of their turnover, which can be explained by some reasons: first, for a manager, it may seem more rewarding to be at the helm. Head of a company whose turnover increases from one year to the next, then, with a growing activity, the company has the means to occupy its teams and to avoid the specter of partial unemployment and In addition to these factors, there is pressure from the banks: the bankers do not appreciate that a company presents annual accounts with a turnover identical to that of the previous year, or even down …But let’s say it loud and clear: these are false arguments by which entrepreneurs should not be trapped. Because what must obsess you, it is not your turnover, but your margin! In other words, you must focus on generating only high margin revenue. For this purpose, you must regularly review your customer portfolio, to ensure that everyone brings you sufficient profitability. If you do not make enough money with a particular client, tell him clearly, and say to him that you can not continue working in these conditions. Does he refuse to pay more? Do not procrastinate and terminate your commercial links …

I recommend reiterating the analysis of your client portfolio every semester, and even quarterly if you can. “

Outsource your IT

“IT is a job that can lose a lot of money without realizing it because a leader feels like he or she knows a little bit about the information system of his or her company. He will be able to get cheap hardware and software and will be able to control his expenses quickly if the computer is managed internally, which I have long thought … wrongly!