All tagged profit
If you can’t remember the last time you raised your prices—or you can but it was a long time ago, then you need to increase your rates. The cost of living is constantly on the rise and so is the cost of doing business. If your cost of doing business increases but your prices don’t, you’re earning far less from your small business than you used to, or than you should.
Now is the perfect time to evaluate your financial position and come up with innovative ways to add revenue streams and generate cash.
Sales and profit are two very different things – as a business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that strong cash flows from sales deliver little profit.
