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 How to manage and drive the profits in my business

 In the current context of the business, the central objectives of the management are summarized in two basic directions:

strengthen and increase the profitability of the business; and
strengthen and increase the competitiveness of their processes and products.

It is very common that when we are immersed in which make daily activities of the business, that we lose without giving us has as an entrepreneur in a myriad of activities that often does not affect or contribute to the economic results that we want in a company.

Businesses compete aggressively to win customers, increase sales and get a share of the market. Businesses must not only be kept. As competitive as the current time, if you have a business, it is necessary to constantly improve.

Follow these steps to improve your business:

 A fresh attitude, attitude is everything, forget about your way of being last year and shows a better for this. A new commitment, is time to pick up your passions. Even if these committed, is always good to reassess your expectations and goals. (if you do not love you, seriously you should return to evaluate your commitments and goals).

Carry a registration and control operations

One of the most important aspects of how to improve a business, is to record the sales, purchasing, and costs.

Many businesses lose track of where will the money; do not know how much sold, how much they are paying for purchases made, how much is the sum of costs (rent, salaries, water, electricity, etc)

Use a software of control operations

It is not recommended to keep track of their operations in pencil and paper. This leads to errors, disruption, and loss of control in the administration.

Recommended to improve the management of a business, is to use a control software. For businesses with high-volume direct sales, we recommend to download a POS (point of sale) as osPos, which allows the rapid registration of sales and computer.

When the company made sales of another type (by appointment, catalogs, sales by phone, etc.) is advisable to carry a software of ERP (Enterprise Resource Planning) as OpenBravo. These software are available in versions opensource (free download).
Improving the current business

Or it is advisable to keep a record of Excel or Access, and go to creating a historical data base of business.

The important activities on paper

To improve business, some companies need to keep a record on paper, which endorses processes or activities performed.

For example, if you have a store with large investment in inventory, it is recommended to create a format where the input and output of inventory is registered with the date, name, quantity, products, input or output, and signature.

Likewise, companies must submit their annual tax return, and must keep track of all the invoices issued and received, in case of audits.

Create various forms of communication with the customer

A way on how to improve a company is to open the channels of communication with the customer, in order to increase the contact, service, attention and sales.

Classic business based his entire strategy of communication with a telephone number and an address. Today, there are other ways that are forcing businesses to adapt, for example:

-Have an email
-Have a facebook and twitter account
-Create a web site
-Optimize the web site for ranking in search engines (recommended article: how to increase the web traffic)
-Online Chat
-Use of skype (voip telephony)

Explain the concept to the customer

A common misconception of the business is a commercial name elegant, different or strange, is going to attract customers. This is not necessary.

It is true that a marketing strategy may include using a commercial name of the different business, as companies that use words in English for your business (for example, McFry´s).

However, the concept of what this business is not clear to the visitor, and most likely does not come to the store or even to see. Therefore a Council to improve a business is to create a statement of what the business is and what makes it different from the others.

In the example, the concept is an Irish bar, so next to the name, there is to clarify what we are in simplified form: McFry´s Irish Pub, Irish Bar.

Identify your competitive advantage
Improving the current business

Regardless of the size or type of business, each one must know what makes it different from the others (what makes it better). In fact, this should have established prior to starting the business.

This is the concept of competitive advantage, the fact of establishing vs. my competition, why I am better or different, making the business more attractive. To run a better business, identify the benefit that makes it better.

Note that I speak of benefit and not feature. One benefit is something that is tangible for the customer, what you receive when you buy in the establishment.

For example, following the Irish pub McFry´s, their competitive advantage can be create an atmosphere of Irish joke in his city (benefit), by the style of the bar, music, drinks Irish style and bands of rock (characteristics). This advantage should give out in your advertising to attract customers.

Make smart marketing

Another common error when managing a company, is to use money in marketing without knowing the return on investment; It is to say, without knowing if that is being spent is generating economic benefits.

A practical way of doing this, is to create marketing strategies that are low-cost and high-impact. One of these ways is the guerrilla marketing, this is presented as an innovative business to use different from usual publicity.

For example, that the McFry´s bar created spectacular announcement outside his business, a giant beer in the style of Irish glass. This is something different that impacts the visitor and creates an attractive to business.

It increases profits by lowering costs

The general idea to increase profits, is through the increase in sales. However, an alternative is to reduce costs, which are the most important money expenditures of the company.

A way to improve the business, is to create an ABC analysis of costs. This is categorizing costs in order to find what are the most important, and reduce them.


A costs shall be those representing 80% of the total costs (usually will include income and wages). (B) costs represent 15% of the total costs, and the costs (c) 5%.

Reduction of the range of items.
Improving the current business
The greater is the range of products you have, most providers or sources you have to serve more space on the shelves you'll need, and of course more money to invest in inventory and higher costs that you have.
 The disposal of goods and products of slow movement or a group of them is a great way to earn more money by selling article. You must be able to negotiate better deals with suppliers if you are buying fast-moving items, which can lead you to best deals for your customers. Remember to monitor the movements of each item you are selling and invest more in those who move quickly.