How to increase sales, profits and profitability

On this occasion I present a list of possible actions and strategies that serve to increase sales, profits and profitability of any business, some of them easy and quick to implement and others that require structured work and some time and / or investment to obtain optimal results.

To increase sales

1. Increase the number of effective clients Increase the average purchase value per client Increase the frequency of purchase visits per client Use advanced sales systems (CRM, POS, BSC, etc.) Improve the training of your sellers Improve the motivation of your sellers Improve the materials of saleImprove the merchandising of your point of saleUse the multichannel distribution systemDevelop a Sales Plan

To increase profits

1. Increase sales volume Increase profit margin Decrease costs Decrease expenses Buy effectively Replace unprofitable products Apply Pareto law, (for products, costs, sales, profit) Manage your capital structure appropriately Change fixed costs for variables when you are a small or medium business Plan a Marketing

To increase profitability

1. Increase sales Increase profits Decrease useless assets Replace assets with more productive ones Improve your technology Increase inventory turnover Increase portfolio turnover, (C x C) Decrease accounts payable turnover, (C x P) Apply the Du Pont shade Create a Financial Plan

There is a popular saying that says: "Take care of the coins, the rest take care of themselves", I do not share this popular adage, I am inclined to use the famous formula of 80/20, (Pareto Law), to maximize the efficiency of a company in almost all aspects of marketing, sales, customers, finance, inventories, logistics…

Its use is so effective that, with its application, it reaches the core, the essence of the administration of resources, of efforts, of the matters in which we must actually apply ourselves, with the advantage that we can dedicate ourselves to what is really important and leaving aside a lot of considerations that more than determining fires distract attention from what is really important.