3 easy ways to improve business profits
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Business Profits,virtual-office, virtual office, singapore virtual officeTRANSCRIPT
3 Easy Ways To Improve
Business Profits
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•One of the ways
to improve
business profits is
to practice great
money
management.
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•Most of the time, companies
and start up businesses overlook
their everyday spending
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•and can, for most
of the time, be
saving a
significant amount
of money if they
did.
5
•These are called the ‘not critical’
aspects of the business, or certain
things that can be replaced with
cheaper and just as effective
techniques.
6
•There are entire
companies that
are dedicated to
this, called
damage control
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•The damage a business does to
itself is not tightening the tap on
the money tank, their employees
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•or even their basic
infrastructure
seems to be
spending on things
that are totally
unnecessary and
totally
inconsequential.
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•You need to investigate every
aspect of your business and how
your money is being spent.
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•Sit down with
your partners and
your employees
and bring out the
accounting sheets,
tracking every
dollar down.
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•You would be shocked and
surprised at the sheer amount of
money that you would be saving
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•Some business
have found that
they were over
spending in excess
of $30, 000 a year
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•money that could have been used
to increase the effectiveness of the
management process or simply to
develop the business further
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•Another way to
improve
business profits
is to diversify
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•Business models that are stuck in
a single dimension paradigm often
see profits stagnate
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•because they
are hooked on a
single market
and refuse to
trying new
things.
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•Diversity, try new projects and
even venture into riskier areas of
the market. But with that comes a
risk
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•You need to have
the ideals of
effective money
management and a
good head for
seeing threats on
the horizons
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•Taking risks have been the
mantra of the most successful,
look at Microsoft, or Apple or
Virgin Airlines, Google etc
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•They have been
carrying the flag
of taking risks
from the first time
they have started.
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•and they have diversified into
every aspect of the market.
Think small scale and apply it to
your business.
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•That is where
growth comes
from and that is
where your
increase profit
comes from
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•from different revenue streams
that will allow you to maximise
your assets and get great returns
from all avenues
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•The other way,
and this is for
the start up
companies, is
to get a virtual
office.
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•Starting a business is
essentially starting a risk, no
matter how air tight your plan is
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•what you need to
do before
committing tens of
thousands of
dollars to leasing a
physical office and
getting office
equipment…
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• is to go virtual and see how
your plan works out!!
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•If your product or
service has
phenomenal success
and the response is
brilliant, then you
can think about
getting a base of
operations.
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•It is all about reducing the risks in
your plan and cutting costs through
avenues like a virtual office
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•It is a great way
for you to test bed
your ideas on the
living market and
see whether it will
reap you the
rewards you
deserve
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