12 Ways to Increase Profits of Your Business

Profit “Piggy Banks”

Do you want to be Confident of cash being available when you need it?

You know what a “Piggy Bank” is; a place where you can park cash until you need it.

Having loaded money into them, you can be confident you will have cash when needed, your stress over being able to pay bills, as they fall due, is greatly reduced.

Read more at the link below to see how to get peace-of-mind by setting up Piggy Banks for various purposes and how to calculate the amount to put away into them on a regular basis so that you have enough cash available when payments are due.

Read how to get amazing willpower automatically and how not to spend money ear-marked for Profit on something else…(more here)

12 Ways to Increase Profits of Your Business (2019 Updated)

If you want to increase profits in your business(es) then first you need to understand that “Increase in Revenue” is completely different from “Increase in Profit”.

It may sound contradictory in some cases, but it’s not.

Profit = (Revenue) – (Expense).

With this formula, there are 4 situations applicable to increase profit.

1. Increase Revenue and keep the expenses constant or comparatively lower.
2. Keep Revenue same but reduce the expenses.
3. Increase Revenue and decrease expenses.
4. Reduce Taxes.

Click on the link to find out about the 12 actionable steps that you can apply to your business and easily increase your profits….(more here)

4 Steps to Getting Superstar Performance From Your Players

Are your employees giving you 100%?

If they aren’t, you’re losing money on them.

Think of it this way.
If you ran a small business with 20 employees who were paid $50,000 each, your annual payroll would equal $1,000,000.
And if 71% of your employees were not delivering a full hour’s work for a full hour’s pay, $710,000 of that million dollar payroll would be flushed down the toilet.

There is good news, however.

There are 4 ways leaders can get superstar performance from all their players….(more here)

This article was courtesy of Business Mentoring Noosa

$20,000 Instant Asset Write-Off extended!!

The $20,000 threshold has been recently extended to 30 June 2019.

If you buy an asset and it costs less than $20,000, you can write off the business portion in your tax return for the relevant income year.

Read more about the eligibility to use simplified depreciation….(more here) Link no longer available.

This article was courtesy of Business Mentoring Noosa

Climbing Out of the Money Pit! Quick Ways to Improve Business cashflow

There are so many ways that we can learn by our mistakes in business.

Sometimes, we need to work on our personal development so that we are running the ship with an appropriate mindset, but other times, we face real emergencies that mean the business will sink or swim if we don’t do anything about it now!

cashflow is one of those problems that every company suffers from, but if you fly blindly and plead ignorance to what’s going on in the bank account, you might not just find yourself without a company, you could find yourself persecuted, not to mention prosecuted!

No doubt you wouldn’t let it come to this, but if you find yourself with a real cash emergency, are there any ways to keep you afloat?

But also, are there approaches to take advantage of so you can keep everything going if this was to happen again?….(more here)

12Faces is a not-for-profit that distills the best available profit growth tips from leading authors and presents it to you in an easily digested format.

Save the expense of buying books and the huge amount of time required to wade through them with ProfitSavvy.org