30 Ways to Make More Money
Here is a sampling of 30+ small business specifics offered that will put more money in your pocket:
- Send out customer invoice statements on time so you can get paid sooner
- File all customer invoices so that nothing gets lost
- Track late payments in order to resolve these problems quickly
- Ensure that you stop serving customers who aren’t paying their bills
- Safeguard good customer relations by properly recording all payments
- Accurately calculate interest, and collect it from overdue accounts
- Reduce the need to borrow money due to poor cash flow
- Ensure that you don’t lose sales because items are out-of-stock
- Avoid rush delivery charges to obtain out-of-stock items
- Stop wasting money buying more of what isn’t selling
- Set your sales prices based on profit instead of conjecture
- Concentrate on selling the most profitable items instead of the easiest ones
- Identify profitable cross-selling opportunities
- Avoid selling products at a loss because you don’t take markdowns on time
- Know which money-making product lines to expand, and which ones to drop because they’re money-losers
- Discover theft before it becomes a problem
- Never pay a bill twice by mistake
- Never lose a discount by paying a vendor late
- Reduce the need to borrow by planning for your payment due dates
- Maintain your good credit rating and keep your borrowing costs low
- Obtain better credit terms based on your good payment history
- Know how much payroll and sales taxes you owe, in order to avoid penalties and interest
- Never write a bad check
- Never pay another bad check service charge
- Make sure all your cash receipts are credited to your account
- Know when you have excess cash so that you can put it to work
- Track your expenses in detail so you know which ones can be reduced
- Never spend beyond your budget
- Get the maximum tax deductions for the expenses of running your business
- Learn how much profit you’ve made, and what your business is worth each month in order to:
- Know when it’s the right time to grow
- Know when it’s the right time to hold back
- Plan accurately for taxes
- Comply with the reporting requirements of any business loan
- Save hundreds to thousands of dollars on your year-end tax return
- Comply with the reporting requirements of any business loan
- Respond immediately to any supplier’s or customer’s request for financial information
- Figure your profit on a cash or accrual basis so you pay the lowest taxes
- Track revenues and costs by job or project (contractors, landlords, attorneys, etc.) in order to:
- Know on an ongoing basis which products are profitable and which ones aren’t
- Get paid on time as you complete the job
- Avoid working on projects where progress payments are behind
- If you manufacture or assemble products (machine shops, bakeries, clothing manufacturers, etc.):
- Know what it costs to make each item
- Set a selling price to cover your costs and achieve a fair profit
- Know what product lines to expand because they’re profitable
- Know what product lines to drop because they’re money-losers
In today’s competitive environment, information is power!
With these services, you’ll receive valuable information to improve your cash flow, control your operations, and reduce your taxes. It will be prepared accurately, based on proper rules and procedures. Plus, you will understand what the numbers mean, and how you can use them to manage your business more profitably.
You’ll uncover a goldmine of profit-building information as you determine your financial standing, and when used properly, this information can help you better plan for the success of your business.
Call today for a free consultation. There is absolutely no obligation. It will be well worth your time!
I pride myself in being more than just an accountant or bookkeeper. I am committed to being that and more. I want to be your Profit and Growth Expert.
The services offered are designed to give you the information you need to make the most profitable decisions in your business. I’ll provide you with timely and accurate information so that you can focus on what you do best in your company.
To accomplish this goal I have identified the above 30 plus ways to make you money, and so that you can have a custom-designed small business process that you can refer to as Your Accounting System.
As you build your business I am committed to help you grow. Simply put, I measure my success by how well I help you achieve yours.ookkeeper/ Bookkeeping /Accountant / Accounting / Payroll / QuickBooks / Excel
