How to generate MORE profit using pricingJul 11, 2022
How do you drive up profitability in your firm?
You know as accountants we tend to complicate things at times when it comes to how we arrive at our profits. Our knowledge of cost accounting is to blame for that. To keep things simple… Your profit is simply what comes in less what goes out. Where the focus is on driving that figure that comes in up, to make sure that the profit that comes out at the end is as large as possible.
You can be making profits but have no money to show for it. Which is terrible. And we don’t want that. Our goal is to grow both in profit and in cash😉 So what do we do? How do we grow our profit and cash?
We need to focus on two things:
1️⃣ Getting better at your pricing
You have to understand what value you create in the world and understand what drives the perceived value of your offering.
2️⃣ Slowing down the rate at which you take on cost.
You have to slow down the rate at which you take on cash costs and leverage your intellectual capital better.
In this video, I’ll explain how you can get better at pricing so you can not only increase your profits but your money as well😉