10 Simple Ways to Improve Your Small Business Today

6. Evaluate your customers

Do you know who your best and worse customers  are? How much profit are you making from each customer? If you don’t know, now  is the right time to set up systems to track and…

7. Remove unprofitable customers

Harsh as it may sound, concentrate on your best customers. Lavish them with attention. If you have unprofitable customers,  cull them. You have no room for passengers.

8. Trim your product or service range

If you are carrying a wide range of stock trim it. Do this by calculating which of you stock lines are your worst performers;  sell those lines quickly to release some cash. Reduce your overall investment in stock.

9. Look at your processes

Mistakes are costly so take a look at your  processes. What can you tighten up or do differently to lower the chance of  errors?

10. Create a budget

Having a budget isn’t about cutting costs, it is about  managing costs. So budget your expenditure for the year and track your actual  costs closely. If you see costs starting to climb take steps to reduce your non  essential expenditure.