{"id":1945,"date":"2019-09-17T22:53:00","date_gmt":"2019-09-17T22:53:00","guid":{"rendered":"http:\/\/fusephase.com\/?p=1945"},"modified":"2023-01-05T04:36:05","modified_gmt":"2023-01-05T04:36:05","slug":"more-profitable-business","status":"publish","type":"post","link":"https:\/\/fusephase.com\/blog\/more-profitable-business\/","title":{"rendered":"How to Have a More Profitable Business"},"content":{"rendered":"

When thinking of ways to have a more profitable business, many people focus all or most of their efforts on boosting sales. More money will solve all your problems, right? (Spoiler:<\/em> It won’t.)<\/p>\n

In reality, bringing in more money is great for your business, but not if it’s just flying right out the window as soon as you get it. For higher profits, you should look for ways to reduce expenses and run your business efficiently, not just earn more. In other words, hang onto more of the money you already have.<\/p>\n

The key to a more profitable business is two-fold:<\/p>\n

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  1. Make more money<\/li>\n
  2. Keep less money from going out the proverbial window<\/li>\n<\/ol>\n

    That makes sense, right? But putting this theory into practice can be a challenge for any business, no matter how big or small.<\/p>\n

    Here are a few practical steps to a more profitable business that has surprisingly nothing to do with increasing sales.<\/p>\n

    5 ways to make your business more profitable<\/h2>\n

    1. Make greater efficiency a priority<\/h3>\n

    Operational inefficiencies will impact your business’s ability to turn a profit more than you might think. If you’re wasting time, you’re wasting money. The end.<\/p>\n

    Look for efficiency gaps in your processes and identify any time-consuming and\/or frustrating tasks for you or your colleagues. What tasks are you performing manually that could be automated, instead?<\/p>\n

    Some suggestions for automated tasks:<\/strong><\/p>\n