More Profits, Less Costs

People are always wanting to know how to get bigger profits without putting in more work. Well, you should work hard to earn hard. But, if you do need to find ways to obtain a better profit margin- then I can help!

The first area is to investigate turnover when it comes to employees. It costs more to hire and replace an employee then it does to properly train an employee. So, I suggest you try your darndest to keep your staff in place and implement training programs versus paying unemployment and rehire costs. This will keep your margins low and feel like you have more profit on sales.

You also should eliminate unnecessary expenses when it comes to insurance. Eliminating these costs will boost your profit margins greatly.  Shopping around and purchasing through buyers groups is a huge help when it comes to keeping costs low.

These two small changes will help you achieve a better P/L and let you keep more of your money.

Until Monday,
Coco the CEO