Build a Business, Sell a Business – Part II: Maximize Your Profits

February 19, 2013 at 1:17 pm Leave a comment

different color goldfish jumping

For many businesses, maximizing profit is the unending quest. Profits translate into opportunities, security, and discretionary income. Maximizing profit also means boosting your return when you transition out of the business. Here are three quick ideas to help achieve growth to the bottom line:

1. Have a narrowly targeted market, and dominate it. You must be the best choice for your perfect client. What do you offer that is better than any of your competitors? You need to know and promote this.

2. Get your processes to run like clockwork. You can’t afford to waste time or money. As  business grows, small inefficiencies can erupt into significant avoidable expenses.
3. Look to the future. What changes do you see in your market, in your industry and in the world at large? What impact will these have on your business? How can you strategically take advantage of change?

Dominate your market, work smart and look ahead.  Act now to maximize the profitability of your business today, and the value of your business tomorrow.

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Entry filed under: business growth, Business growth: strategies & tools, Business Strategy, business tips, Business transition, profit, Selling a business, small business, strategic planning, strategy. Tags: , , , , , , , .

Build a Business, Sell a Business – Part I Build a Business, Sell a Business – Part III: Maximize Assets & Showcase to Sell

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