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Business strategy
3 practical ways of increasing the net profit of your business
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[QUOTE="Augusta, post: 250540, member: 25283"] The net profit of a business is the real profit of the business. This is like the take home pay of a worker after taxes or other expenses have been deducted. Same goes for a business when all overhead expenses have been deducted this is when the real profit otherwise known as the net profit can be realized. it is this amount of profit that you can know whether your business is growing or stagnant. When the new netprofit is higher than the old one, you can believe that the business is growing steadily that's if you are operating a new business. The netprofit of a business is always found in the balance sheet.But the tho g is that it is good to always devise a good way of boosting your netprofi6 so that you can have a viable business. so which three outstanding ways can you adopt to achieve this: 1.Increase your price when necessary to increae your net profit. When you increase your price of products, you would.make profit which will increase your netprofit 2.Make more sales:Remember the more sales the more net profit. You need to boost your seles to a higher level 3.limit your expenditures: Expenses take away a lot of money from a business. if you need your net profit to increase then you have to reduce your expenses What's your take? [/QUOTE]
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