Whether you run a small, medium, service-based, or product-based business, chances are you offer a variety of products, services, and possibly even pricing models. Construction companies take on big projects, little projects, and some in between. A marketing firm might bill some clients per job and others per hour or on a monthly rate. Businesses selling products might have as few as five or as many as 5,000 skews available in different colors and sizes. Although all of these offerings likely bring in revenue, most often in business, only a few offerings actually generate profits. In fact, it's not uncommon for the jobs with the highest price tags (i.e. the largest revenue streams) to generate the smallest profits.
When you're still experiencing the exhilaration of founding a new business, planning an exit strategy may appear.
You don’t need an MBA to know there are two basic ways to increase your profits: increase revenues or reduce costs..
If you're like most entrepreneurs, you started your company with as few employees as possible. It's not unusual.
Whether you have been in business for decades, or you are just getting started, money management can be an issue no.
Asking employees to report how much time they are spending on each project can significantly increase.
