Make More Profits
This is one of the four cornerstones embedded in our diagnostic reviews.
Alexander Accountancy knows that you increase your sales by increasing sales to existing customers and when you Find New Customers. And that you improve your margins by Generating Better Sales.
So the next step to making more profits is to control your costs.
Your cost control strategy. Do not confuse cost with price, this is not about buying cheap, it’s about buying smart.
Did you know that every £1 you make in cost savings increase your profit by the same amount, whereas every £1 of extra sales has to pay for direct costs and cover overheads so is worth far less? This is why cost control should be a crucial part of every business strategy.
Think in terms of value for money. Cheap stock is not cheap if it has to be replaced or is losing you customers. So focus on getting the best price you can for stock of the quality you need.
You need to employ staff who will provide the quality of service you and your customers need, but you may not need to pay top rates. Other rewards such as appreciation and flexibility can often earn you loyalty and quality at competitive rates.
For general expenses look at comparative quotes at least once a year to see how your current prices compare, but remember not to undermine the quality you need. If you have a special relationship with a supplier, talk to them about what else is available.
For professional services, ask the providers how they are adding value to your business. Do they offer proactive advice that you can tap in to? Do they offer fixed fees? Are they available to talk to when you need them?
Remember the right goods and services at the right price are an investment not a cost as they will increase your profits.
To learn more about the above why not ask for a free diagnostic review from Alexander Accountancy’s team of expert accountancy practitioners, call 01283 743851 or email via in**@al*******************.uk
