Boost Profits with H.A.C.K.

Do you wonder why you never have any profit leftover? Wondering why your sales are not reflected in your bank balance? If you find yourself consistently experiencing negative profits, this acronym might help you.

We didn’t come up with this acronym, but trying out these strategies will help boost your profits! 

Hike Prices: increase prices, bundle, or upsell products/services.

Analyze Ever Dollar You Spend: examine every expense, and find cheaper ways to do things. Know your cash flow!

Cost-Saving Efficiencies: Analyze your processes and figure out which ones you can eliminate or streamline.

Kill Unnecessary Expenditures: Cut out as many expenses as you can without damaging your product/service. You probably don’t really need a lot of the stuff you are spending your money on.

To go along with these strategies, we would also recommend not keeping all your money in one account. If you keep all your money in one pot, it encourages you to spend it all, which is probably why you are not seeing a profit.

Separate revenue into different accounts to create a smaller pot for expenses. This forces you to cut down on unnecessary expenses and prepare/benefit from other parts of your business (Profit, Tax, Debt, Owner’s Compensation, etc.).

We call this system Profit First, and it has helped half a million business throughout the world acheive increased profits and financial freedom. 

To learn more about how to do this, check out our content about the Profit First system. We are Certified Profit First Professionals, so reach out to us to get started on implementing these strategies in your business today! We offer one-on-one coaching, or you can sign up for our online Profit First implementation group course!