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BUSINESS FEATURE

drivers such as transport costs. It’s your Remember always, only profit is the real and look at the potential and current profit
money, so spend it wisely. bottom line! margins and choose the ones that deliver
• Reduce consumption – companies the most money. Identify which products
should measure and understand their Your business should not absorb inflationary and services are profitable and focus on
spending visibility and create the ability cost price increases such as higher taxes, selling only those.
to isolate cost drivers. This focus on more expensive fuel and salary and wage
spending better could also impact the increases as doing so will seriously impact Remember, you want to safeguard and
organisation’s structure and business profitability. I believe the best approach protect your income and having the
silos. is to proactively raise prices, concentrate marketing, products and services your
• Eliminate work – using a clean sheet on superior customer service to justify the existing customers want to buy are essential
mindset with zero based costings is one increases and in so doing, boost net profits elements of a great marketing strategy that
way to ensure a business can reset the without alienating customers. will in turn attract new customers.
way the work is done. Firstly, scrutinise
the what and then the how. Clearly Marketing in SMEs is too often done solely Sign up for our next complimentary
distinguish between value added from the perspective of the seller. Take a Build Your Business webinar or join us
work and non- value added. It’s worth good look at your marketing strategy. for our next GrowthCLUB session – I will
looking at your product range and show you how you can increase profits in
eliminating the products that struggle Does it address the need or pain point of your business!
with profitability. your target market customer?
• Automate or mechanise – this will help Stay inspired and
free up workers and ensure each person Does your marketing spend deliver the
is more effective in creating value. This same results as any other investment in the connect with me today
could include process automation or business?
intelligent document processing, as in to arrange your free
Xero. Taking a high-level view of your company’s
product and service offering can be a one-hour complimentary
valuable exercise for any business owner. business discussion.
A successful strategy for managing Remember, your product and services
money includes proper auditing of offering defines the entire business model
your numbers, setting budgets that are and guides the direction of sales and
understood and followed by everyone in revenue. Yours in great business,
the business and the proper management Coach Bert
of gross and net profit. Evaluate your different offerings. Compare www.bertweenink.com n

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