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How to improve your profit margin…
Get control of your business....................
1. Have you reviewed your phone service charges lately?
2. Have you changed the filters in your air handlers to save energy costs?
3. Are you using a credit with free mileage or cash back?
4. Do you buy high use items in bulk?
5. Do your employees understand the concept of profit or are they just robots going through the motions to earn an hourly wage?
6. Do you create monthly or quarterly income statement so that you are aware of the financial health of your company?
7. Do you know where every penny was spent last year?
8. Have you established budgets?
9. Do you compare you sales and expenses to last years?
10. Do you ask for advice or do you think you know it all?
11. Are you willing to make change if it makes financial sense?
12. Do you realize that just because you have been doing business with someone for 10 years, they may not be treating you right? Be loyal, but be knowledgeable.
13. Do you have an accurate inventory of your product or company assets?
14. Do you have security measures in place to be certain that your employees are not taking home more of your inventory than your customers?
15. As you identify areas to spend less money -do you track your savings? Each year see if you can “save" more than last year.
16. Do you take advantage of discounts and programs offered by fellow NBA members?
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