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  • Writer's pictureSamantha Hearne

5 Ways to Increase Your Business Profit

We've all heard the saying, "cash is king," but the real royalty is profit. Read on to learn a basic breakdown for cash vs profit and to discover 5 ways to increase your business profit right away.

Cash vs Business Profit Breakdown

When it comes to cash vs profit, consider this basic format/breakdown.

Let’s say, for example, you sell a service for £10,000.

Your outgoings are £2,000.

Your cash may be £8,000.

But that is NOT all business profit!

You then want to optimize the profit of this £8,000 by calculating your taxes, salary, etc, and then seeing where you are to generate the real business profit.

5 Ways to Increase Your Business Profit

  1. Start a tracking system that manages your sales, outgoings, cash received, taxes, and profit. Click here to access my Sales Framework Training for a deep dive into this topic plus a downloadable template.

  2. Look at your prices and see if they align with your financial goals for the rest of the year. For example, if you have a lower price, you’ll need more conversions. If your price is higher, you'll need lower conversions. Look at what would work best for your business over the next 3 months.

  3. Have a 12-18 month financial plan minimum. Panicking month to month about sales, cash, and profit is not big picture thinking for expanding your business.

  4. Have a sales strategy that puts selling and converting at the forefront of your marketing, not just creating viral content or daily posts.

  5. Know your numbers, including your tax percentages, next financial milestones, and what that means for your business profit.

  6. BONUS: Work with someone who focusses on profit and has a passion to help you increase yours for the long term.

These 5 ideas will help you increase your profit in business right away. Comment below and let me know which one you're focussing on this month.


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