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100 Ways: The Profit Enhancement Process

 

In our commitment to helping businesses improve their profitability, HMV has launched a series of profit enhancement ideas called 100 Ways: The Profit Enhancement Process. The purpose of the series is to assist business owners and managers in cutting costs and increasing revenues and working smarter, not harder.

As the name suggests, the series will consist of 100 ways a business can increase profitability. Throughout the next year we will expound upon each of these ways. New profit enhancement ideas will be released on our website every Monday and Wednesday until all 100 ideas have been covered.

 

 

*** Sign up here to have profit enhancement ideas sent directly to your inbox via our weekly 100 Ways e-newsletter. Be sure to check the box at the bottom of the sign-up form stating you would like to receive emails on the 100 Ways: The Profit Enhancement Series.***

 

09.08.2010
Way #50: Protect Your Company's Most Valuable Assets: Yourself

09.01.2010
Way #49: Check References Before Extending Credit to New Customers

08.30.2010
Way #48: Tighten Up Credit Practices

08.23.2010
Way #47: Schedule A Year-End Tax Planning Session

08.18.2010
Way #46: Renegotiate Your Lease to Reduce Occupancy Costs

08.16.2010
Way #45: Find Additional Capital

08.11.2010
Way #44: Farm Out Payroll Chores to an Outside Automated Service

08.09.2010
Way #43: Form Your Own Kitchen Cabinet of Advisors

08.04.2010
Way #41 & 42: Ask Insurance Agents to Trim Premiums

08.02.2010
Way #40: Hire A Collection Manager to Boost Cash Flow

07.28.2010
Way #39: Use A Dunning Service to Avoid Collection Agency Fees

07.26.2010
Way #38: Comparison Shop Banks to Lower Credit Card Fees

07.19.2010
Way #37: Lease Your Employees to Other Business

07.14.2010
Way #36: Draw Up Contingency Financing Plans

07.12.2010
Way #35: Level With Your Banker About Your Financial Problems

07.07.2010
Way #34: Watch Out for Unsound Banks

07.05.2010
Way #33: Develop Regular Financial Flash Reports

06.30.2010
Way #32: Develop and Monitor Key Ratios for Your Business

06.28.2010
Way #31: Use "What-If" Scenarios to Monitor Performance

06.22.2010
Way #30: Attend Local Seminars to Trim Travel Costs

06.21.2010
Way #29: Cash In On Employee Benefits

06.14.2010
Way #28: Cancel Insurance on Unused Vehicles and Equipment

06.14.2010
Way #27: Slash Your Paper Costs

06.9.2010
Way #26: Trim Travel and Entertainment Expenses

06.7.2010
Way #25: Review Spending for Publications and Organization Dues

05.26.2010
Way #24: Avoid Costly Equipment Buying Blunders

05.24.2010
Way #23: Trim the Cost of Credit Card Processing

05.19.2010
Way #22: Negotiate Special Terms to Stretch Cash Flow

05.17.2010
Way #21: Scale Back Orders But Pounce On Deals

05.12.2010
Way #20: Double Check Scales for Accuracy

05.10.2010
Way #19: Use Fax Machine/Email to Speed Collections

05.05.2010
Way #18: Lock the Supply Cabinet

05.03.2010
Way #17: Guard Against Losses from Employment Theft

04.28.2010
Way #16: Reward Your Employees for Bright Ideas

04.26.2010
Way #15: Dispose of Slow-Moving and Obsolete Inventory

04.22.2010
Way #14: Sublet Unused Office Space

04.19.2010
Way #13: Eliminate Unnecessary Utility Costs

04.14.2010
Way #12: Reward Employees With Non-Cash Compensation

04.12.2010
Way #11: Scale Back Retirement Plan Contributions

04.07.2010
Way #10: Link Bonus to Performance

04.05.2010
Way #9: Monitor Personal Use of Company Cars

03.31.2010
Way #8: Monitor Departmental Budgets

03.29.2010
Way #7: Limit Expense Authority to Upper Management

03.24.2010
Way #6: Start Signing All Checks Personally

03.22.2010
Way #5: Profit is a State of Mind

03.17.2010
Way #4: Recover Tax Overpayments by Carrying Back this Year's Loss

03.15.2010
Way #3: Recapture Estimated Income Tax Payments

03.11.2010
Way #2: Be A Hands-On Manager

03.11.2010
Way #1: Identify Profit Centers, Keep the Winners, and Lose the Losers