vocabular-de-business-pt-sitePROFIT, profits, Returns, proceeds, or revenue, as from property or investments.

By definition a business is created to produce profit for its owners. Whether the profit is expected immediately or in the long run, whether temporarily the main objective is maximizing revenue, entering new markets or something else, inevitably all businesses have to generate profit.

 

In our business consulting experience we have identified a few steps our clients can take in order to achieve their profit objectives.

Follow these pierces of advice to make sure your profits are exactly where you want them to be:

  • Plan your budget taking into account all types of cost and make sure it’s large enough for your business to run smoothly on;
  • Realistically estimate sales numbers, so that the sales team’s target is both attainable and motivating;
  • Plan your cash-flow to assure smooth operations; identify different sources of cash for your business (lines of credit for example) and include the costs of these cash sources in your budget;
  • Evaluate risks and define plans to eliminate or minimize their impact;
  • Closely and continuously monitor cost and revenue;
  • In case of differences between actual and planned costs and revenues, implement measures to correct and limit them;
  • Ensure flexibility in defining commercial policies, by adapting them to market trends, so that sales targets can be achieved.

 

These suggestions can be applied by involving your whole management team and utilizing financial and operational planning and monitoring tools. For best results, employ an integrated enterprise resource management (ERP) solution, with a flexible reporting platform, that ca offer real-time data in a structured manner.

To find out more about SAP Business One, the enterprise resource management solution that comes with Crystal Reports (one of the most powerful and flexible reporting platforms), please click here!

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