Three Ways to Improve Upon Last Year’s Profits
One of the main focuses many businesses have is their profits, as is expected. But there are a few ways that reflection on the previous year can really improve upon your businesses that not many people would think of, so here are a few thoughts from the OCDesignsonline team to help you make 2016 even better than 2015 for your company.
Step #1: Compile your income and expenses from 2015
While most people know their year-end income, they don’t necessarily know the breakdown of the year. How many sales did you get? What quantity of purchases? How much did you spend on expenses? What is the breakdown between supplies, advertisements, and employee payment disbursements? How much was paid on utilities and storage?
Now that you have all of that, do you see areas of improvements? Can you use a different wholesale supplier? Or will it sacrifice too much quality?
Really look into this information, break things down into smaller categories, and you’ll be able to see small areas of improvement that all together can make big changes for 2016. This may take a bit of time, especially when it comes to comparing prices for wholesale supplies, company phones, and the like – but in the long run, these changes will help your company improve on their profits in 2016.
Do you want to waste money, just for the sake of conveniently staying with the same suppliers? I don’t think so.
Step #2: Think on your management style
How did you delegate work with your employees? Did you have a good relationship with your employees? Morale is really important when it comes to quality of work. The better they are treated, and the more employees are inspired and encouraged, the more productive your business will be.
Another thing to look into is how much you planned during the year. Using an editorial calendar may be a good option for you to consider in 2016, especially when considering the benefits of thinking ahead for higher sales seasons. This way you can do your best by your product and market them more effectively.
Step #3: Look into your presentation
Is your website prepared for 2016? We have a list of 2016 eCommerce trends that may give you a few things to consider. Setting intentions for the year will also help with goals, as it’s good to have something to look forward too and to measure against. There are even a few unconventional marketing ideas that you can try in 2016, to see if it can take your company to new heights as well.
If when looking at your content you realize that you do, indeed, need a new website layout, we can help! OCDesignsonline specializes in eCommerce storefronts, working with all kinds of platforms. Contact us for a free quote now and browse our portfolio so that you can see what we have to offer your website.
We’ve been in this business for years and know exactly what works and what doesn’t in all kinds of eCommerce platforms and store genres. You’d be very surprised how much a new design can impact your sales.
All in all, these three steps can change your bottom line this year. Change, like everything else, starts with a few steps.