How to Increase Profits for a Business – in short increase revenue and decrease costs. You need to generate more sales while reducing expenses. To increase sales invest into Marketing, improve sales employee performance, try to sell more items and or see if you can upsell and expand product offering.
Reducing costs, means being more effective operationally, which means reducing waste, doing things just in time, maximizing your employee productivity. All this should lead to more profit. The below diagram depicts ways to increase your company’s profits.