How to increase Net Profit?

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Reduce COGS : Find a cheaper supplier or negotiate a better price. The lower the COGS, the higher your net profit.
Control Admin Cost : Don't overspend on things that aren't important. Look back to see if there are costs that can be reduced, like rent or utility bills.
Optimize Marketing Cost : Create effective marketing without wasting it. Make sure every cent you spend on marketing can bring in more sales.
Increase the selling price : If your market is receptive, you can consider increasing the selling price. But make sure there is value that justifies the price, not just increasing it at will.
You need to set KPIs (Key Performance Indicators) for net profit so that you have a clear target.

For example, if you set a net profit target of 20% of revenue, this means that for every RM100 you sell, RM20 must be net profit.

These KPIs can vary depending on the industry, so make sure you set realistic targets that suit your business.

This net profit is what shows how well you manage your business.

So, monitor your net profit every month, make adjustments egypt phone data when necessary, and don't forget to celebrate every time you reach your target!

Because in business, every cent that comes in counts as your effort, and the net profit is proof that your efforts are successful.

Learn something?
So, if you want your business to sustain and grow, you need to monitor this financial data every single month!

After reading this blogpost, what should you do? First, audit all your business financial data.

Look back at revenue, COGS, admin costs, marketing costs, and net profit.

After that, set realistic targets and consistently track your progress.

This way, you can not only avoid financial problems, but you can also boost your profits to the next level.