Tips on the most effective ways to generate revenue.
Now that we have examined two other ways to increase profits in your business in the last two months' columns -raising prices and cutting overhead expenses - it's time to address the final phase, generating more business. This approach is sometimes the only one that service business owners consider because, on the surface, it looks like the easiest way to accomplish the goal.
Before we review ways to bring in more business I want to reiterate the importance of applying all three methods of boosting your bottom line profits. Employing only one of the techniques may help but won't let you truly maximize the amount of money you get to keep. Each works with the other two in a synergistic approach. So using all three can significantly increase your profits.