Expert Advice When Sales Grow but Profits Don’t
What’s an aspiring entrepreneur do when a business is growing but the profits aren’t? Get expert advice. Expert advice can help entrepreneurs like Sarah Landstreet, whose company Georgette Packaging grew to $1.3 million in sales this past August from $172,000 in 2014. Despite that growth, her net profits for this year were $84,000 as of August. Brian Brennan, a senior partner at Toronto-based Max Potential, suggests three strategic ways that Ms. Landstreet can use to reach her lofty goals. 1. Increase sales volume 2. Cut costs and improve pricing 3. Avoid big chunky costs – To get the full story, read [...]