40 Ways to Increase Your Profit
Readers like you give advice on increasing profit without increasing price
38.
Learn to delegate.
“Figure out what you do that turns dollars,” says one reader. “Then delegate the rest.” This approach will make you more valuable to the business, and boost your employees’ experience — and value — as well.
39.
Make sure you’ve got the right person doing the right job.
One respondent makes sure to use lower-cost labor for things like cleanup and setup, rather than a more expensive lead carpenter. “Almost every job can use a ‘go-fer,’ ” this reader notes.
40.
Don’t forget to supervise.
Be sure to have an employee on-site who’s capable of supervising and addressing possible problems. As one reader says, “On-site management — and the resultant communication with the office — is invaluable for cash flow and profit.
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