Sometimes, improving the profits in your company is about more than just generating more revenue. If the revenue you’re generating isn’t from a profitable segment of your business, you may be spinning your wheels.
In an article written by the Business Development Bank of Canada (BDC), business consultant Jorge Henao discusses a few steps any entrepreneur can take to improve the bottom line:
- Assess the profitability of your business
- Analyze individual components
- Examine your options
- Make a plan
- Set targets and follow up
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