Increase Your Bottom Line–a primer

1 08 2011

Everyone wants to increase their bottom line; that is, their profits or the “net.”  But too many people do not have a strategy to do so.  It is important to have at least a basic understanding of how to increase your profit.  For instance, you can spend money on advertising, but before doing so, you should at least have a basic understanding of what you hope to get out of that – brand expansion, direct sales, etc.

The first thing to know is that to increase your bottom line, you have two basic options:

(1) Increase your revenue,

(2) Decrease your costs.

These seem obvious, but we often break it down that simply for people and it turns on a light bulb.  Another realization that seems obvious is that these two things are not mutually exclusive and can happen at the same time.  More importantly, the best business decisions will meet those two goals at the same time.

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