Profit Maximisation

Business are ultimately set up to provide the owners or shareholders with income and hence the primary aim is to make a profit so that there is a return. So clearly it makes sense for you to want to maximise the profits that you make from the business. The more profit the more funds available for you and your family to have more financial freedom.

Making more profits is a science based upon numbers and that's why as experts with the numbers, your accountant is ideally placed to help you with profit maximisation for you and your business.

Although there are many different types of businesses in a multitude of different market sectors there are some fundamental things that do not change when it comes to the maths behind increasing your profits.

You do of course need to have a product or service that customers want to buy and so your product or service needs to be fulfilling the customers needs as much as possible. So you need to be clear on the customers that you are targeting and ensure that you are solving their problem for them as well as you can. So getting to know your ideal customers is key.

Then since making more profits is all about the numbers, there are 7 key growth drivers that will grow your business and maximise profits. These growth drivers which together maximise your profitability are as follows:

• Getting more customers - this is often the first thing that you'll think of to increase profits and it is of course very important, but it is far from the only thing to focus on!
• Converting your sales leads into sales - doing this well can make a big difference to your profits and is something to really focus on and systemise
• Getting customers to spend more - it seems obvious but so many companies fail to maximise the spend from their existing customers and there are always was to cross sell and up sell no matter what your market sector
• Getting customers to spend more often - this will be very different in some business sectors but with some thought and creativity there will be ways to achieve this goal and systems to implement to effectively implement it
• Getting customers to remain customers for longer - this is often overlooked by business owners but by having great customer service systems amongst other things you can maximise the time that customers remain with you
• Pricing for maximum profit - this area will provide you with your quickest win and can very easily add significant profits straight to your bottom line with virtually no extra work and effort so this is the first area that we would focus on for you
• Systemising everything - this is the glue that holds all the other growth and profit drivers together, turning all of your growth drivers into efficient systems so that you are highly organised and you can easily scale up for even greater revenues and profitability

With positive impacts from each of the above profit drivers we can show you how this has a hugely impressive multiplying effect on your overall profits and really does achieve real profit maximisation.

Tracking your profitability and the key numbers for your business is very important and we use the very latest technology that links into your cloud accounting system, so that we can analyse various aspects within your business, measure the impact of the positive changes that are made, and spot patterns and trends so that opportunities for more growth and profit can be identified.

This is the core part of our work with small businesses that we love since it usually makes the biggest difference to the lives of our clients and their families. We're here to help you with all of this.