Profit Improvement

Working together, we can set targets for profitability and monitor your ongoing performance to ensure it improves.

Ultimately everybody is in business to make a profit. Without profit a business cannot remain in existence.

A profitable business can fail if it runs out of cash, so cash management is a key element of business survival.

The key to profit improvement is knowing where your profit comes from and understanding your business model. We can help set up your systems to identify where you are making your profits (or losses), so you know what products or services generate a return.

Without this information it is difficult to introduce change, but once you have it, we can work with you to develop a strategy for increasing profitability.

We can:

  • Review your pricing strategy and see if you are making the margin you think you are. Discounts can be a very expensive way of generating sales and can eat into your profits.

 

  • Look at your office processes and see if it is possible to introduce time-saving cloud-based applications.
  • Analyse your overhead to see if you are getting value for money from your suppliers.
  • Evaluate your payment processes and credit control can often be streamlined so cash arrives in your bank quickly and efficiently.
  • Assess your payment terms to see if they are in line with industry standards, and if so, are they being followed.
  • Prepare forecasts so we can fully understand your business model and the interaction of the various components.
  • Compile management accounts to compare to the forecasts and react to changes in the business environment.
  • Advise on tax issues to increase retained profit.

Working together, we can set targets for profitability and monitor your ongoing performance to ensure it improves.

“We follow a simple principle laid out by our founders: It’s not about keeping up. It’s about staying ahead.”

Chris Wrighton,
Director

Talk to our experts

It’s our job to clear the way so you can focus on what inspired you to go into business in the first place.

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Find out more about how Harold Sharp works, and how we can help you.

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