CAPITALIZE ON THE PROFIT LEVERAGE EFFECT
Every dollar saved in the production of goods or delivery of services adds a dollar profit to your bottom line, without having to sell more.
ADOPT A CONTINUOUS PROCCESS IMPROVEMENT INITIATIVE
Drawing up the process for how things are made now (current state) and finding ways to reduce the steps in the process.
IMPLEMENT AND MONITOR BUDGE
Follow your budget strictly and only go outside of it when it is beneficial to your business generating more money or keeping more money.
PERFORM A GOOD FORECAST
Quite often small and mid-sized businesses aren’t prepared for all the costs associated with growing quickly.
By outsourcing non-core and administrative functions, companies can reallocate time and resources to core competencies like customer relations and product leadership, which ultimately results in advantages over competing.