Remember, increasing sales alone is not the answer to increased profitability. Sales should be increased strategically with a plan in place to proceed with a focus. All strategic elements should be considered, such as pricing, staffing, production automation/technology, along with goals for growth and goals to reach the owner’s personal objectives for success. The successful pursuit of increased profit requires a well coordinated combination of cost containment and focused sales efforts. Having it all is not easy, but time and time again, I can attest, people are doing it, and you can too.
Stuart Margolis, CPA and partner at MargolisBecker LLC, provides information that helps firms operate profitably. The company is the purveyor of the industry’s “Cash is King” and “Value-Added Principles of Management”, and compiles the annual Printing Industries of America Ratios, the industry’s premier financial benchmarking tool. More information at MyPRINTResource.com/10164246.