What is the secret of profit maximization in business

 The secret of profit maximization in business 
One of the reasons or probably the core reason for every business organisation is to maximize profit but when profit isnt maximized, it is considered to be made. All these have secrets attached to them which every business man must take cognisance of in his or daily activities. For profit to be made, business or exchange must take place between parties of which are the buyer and sellers. In this post, I will be revealing three big secrets of profit maximization in business in which must be practicalised by all ebtrepreneurs and business men in order to achieve the main aim of the business.


1. Make use of all opportunities: A businessman must quests seek opportunities and turn them into profit. As a businessman you are opened and exposed to series of opportunities in the environment. Permit to say the environment is always problems. There are many problems in the societies arised from the unlimited wants of human beings. Therefore, by looking at this problem you create a profitable solution. Remember the world once had the problem of communication system, looking at today's world different innovation has occurred in the communication sector, different companies came up with different solutions to the problem faced in the sector. Not just a solution but a profitable one,then maximize the profitability of that solution.

2. Profit is profit: There goes a saying which states that" little drops of water will make a mighty ocean". The problem with all startup businessman and entrepreneur is that they are of the thought that little money made after conducting a business amounts to nothing but that is falsehood. The thing is profit is profit no matter how little is it, the only way to maximizing it is by expanding the customer base who building up the profit margin and see how large you earn at the end of the day. let's take for example,you sell a product whose profit is just 0.10 and you have a customer base of a hundred thousand individuals. It's simple 0.10*100000= 10000. That's the logic, use it wisely.

3. Get feedback on your services : If you are in the production sector for example and have built yourself a can't do without brand with customers. Its better you get quality and feedback from your customers and adjusting the price of your product with a little margin. This goes on and on while maintaining a standard and quality feedback as well. The feedback will tell you when you should adjust and when you lay low for some time. But for you to do this, you product must of be of standard and reputable quality.

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