Streamlining Tools for Profit
You can probably grow profits with what you have and in just months if you focus on these streamlining tools.
You don't have to get more resources or wait for a long time for the ship that is your business to change course.
The quickest path to profit is to streamline or optimize what you are already doing and these articles will help with that process.
BTW, these are some of the most important "tools" that we can recommend to you so its well worth the time learning about them.
80/20 Profit Optimization Article Count: 6
We often refer to the 80/20 Rule throughout Profit Savvy because it makes you and your business focus on the "vital few" things that will make the most difference. If nothing else, this is a tool you should become very familiar with and hence our emphasis on it. You can also find 80/20 articles by clicking on their tag
Release the Bottlenecks on Profit Growth Article Count: 6
The Theory of Constraints (TOC) teaches that you should first find and optimize any bottlenecks in your business. Until this is done, much of your efforts on improvement is wasted. We refer to TOC often in Profit Savvy. You can also find TOC articles with their tag
Profitable Inventory Management Article Count: 4
Inventory has a major impact on both your profitability and your cash flow.
From the profit viewpoint, if you don't have the right items in stock, you can't sell them. Therefore you forgo the income that you might have otherwise made.
From the cash flow aspect, if you have excess inventory, it ties up cash so your cashflow suffers. You might have to borrow more and that brings in interest costs as well; which further damage your profitability.
This group of Profit Savvy articles offers our distilled wisdom on inventory management for profit and cashflow.