Raising profit margins can be a tricky business. Sometimes you can just pick up some extra work or a higher paying client, but often times it isn’t that simple. Something you have to keep track of, and reduce, if you want to boost your profit margins, is waste.
The article below talks about various kinds of waste, money, time, resources, and how to reduce them by refining your process. It covered seven crucial mistakes to avoid with your refinement process to help make sure things go correctly and smoothly, and that your profit margins can start rising again in no time.
When your business is new, it’s easy to accumulate waste and not realise it. You lay down processes the best way you know how and then focus on charging full steam ahead – finding new clients, building a steady stream of revenue and making a name for yourself as a trusted WordPress expert. The problem is, when you’re so focused on what’s going on inside your business, you lose sight of the waste that surrounds you. Wasted money. Wasted effort. Wasted resources. The second you’re ready to scale your WordPress business, it’ll become painfully clear something has gone askew when your profit margins won’t budge.
Read full article: Boost Profit Margins by Refining Processes (the Right Way)