Profitability is the lifeblood of any business, small or large. It allows a company to reinvest in itself, pay its employees and shareholders, and fund future growth.
There are many ways to increase profits, but not all are created equal. Some methods may bring in more revenue in the short term but be detrimental to the business’s long-term health.
Others may take a bit longer to pay off but create a more sustainable income stream.