Profit & Growth

30 Ways to Make More Money

Here is a sampling of 30+ small business specifics offered that will put more money in your pocket:

 

  1. Send out customer invoice statements on time so you can get paid sooner
  2. File all customer invoices so that nothing gets lost
  3. Track late payments in order to resolve these problems quickly
  4. Ensure that you stop serving customers who aren’t paying their bills
  5. Safeguard good customer relations by properly recording all payments
  6. Accurately calculate interest, and collect it from overdue accounts
  7. Reduce the need to borrow money due to poor cash flow
  8. Ensure that you don’t lose sales because items are out-of-stock
  9. Avoid rush delivery charges to obtain out-of-stock items
  10. Stop wasting money buying more of what isn’t selling
  11. Set your sales prices based on profit instead of conjecture
  12. Concentrate on selling the most profitable items instead of the easiest ones
  13. Identify profitable cross-selling opportunities
  14. Avoid selling products at a loss because you don’t take markdowns on time
  15. Know which money-making product lines to expand, and which ones to drop because they’re money-losers
  16. Discover theft before it becomes a problem
  17. Never pay a bill twice by mistake
  18. Never lose a discount by paying a vendor late
  19. Reduce the need to borrow by planning for your payment due dates
  20. Maintain your good credit rating and keep your borrowing costs low
  21. Obtain better credit terms based on your good payment history
  22. Know how much payroll and sales taxes you owe, in order to avoid penalties and interest
  23. Never write a bad check
  24. Never pay another bad check service charge
  25. Make sure all your cash receipts are credited to your account
  26. Know when you have excess cash so that you can put it to work
  27. Track your expenses in detail so you know which ones can be reduced
  28. Never spend beyond your budget
  29. Get the maximum tax deductions for the expenses of running your business
  30. 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
  31. Figure your profit on a cash or accrual basis so you pay the lowest taxes
  32. 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
  33. 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

Serving the South Bay, West LA & Long Beach areas