Top-Rated CPA & Accountant Pauline Ho Highlights Profitable Growth Strategies For Challenging Times And COVID-19 - Orlando FL

Leading CPA Pauline Ho, head accountant at Laus Consulting in Orlando, FL, shares some extremely simple but profitable growth strategies for small businesses during COVID-19. For more information please visit: https://lausconsult.com

In a recent interview, top CPA Pauline Ho, head accountant at Laus Consulting in Orlando, FL, emphasized profitable growth strategies for small businesses during COVID-19.

For more information please visit https://lausconsult.com

When asked for a comment, she said, “With the coronavirus pandemic upending the economy and negatively impacting small businesses in particular, there are a few strategies business owners can implement to help grow their profit margins. Here are a few tactics to deploy during this tough time.”

One way to help widen profit margins, according to Ho, is through using technology to enhance efficiencies.

"If you haven't already, invest in technology to make your daily operations much more efficient. Following the onset of corona, it's become clear that a decent chunk of work can be completed remotely and often times more effectively. Furthermore, implementing better software, for instance, can help you more easily pinpoint if a customer has consistently not paid their invoice," she said.

Following from this, streamlining debt collection will likely help improve overall cash flow.

“Obviously, the quicker you’re able to collect money from non-paying or late customers, the better it’ll be for your business. Implementing better debt collection tactics to cut down on the chances of bad debts is the way to go,” she added.

Concentrating on fewer products could go a long way in putting more money in the pockets of business owners.

When asked to elaborate, Ho said, “If you typically offer a wide range of products, it might be high time to narrow your focus on the products that are selling the most. This means that you’ll need to funnel your energy into manufacturing and marketing that particular product.”

Raising prices incrementally is a fantastic way to increase cash flow, according to Ho.

"If you haven't raised the prices of your products in a while, it might be time to consider a price increase to keep up with inflation. You'll want to make sure that your prices are still competitive and that you can justify the rise in cost to your customers," she commented.

"It's important to note that it's not a good idea to blindside customers with a hike in prices - instead, it's better to communicate the change with your base and to persuade them that paying a bit more is worth it in the long run."

Source: http://RecommendedExperts.biz

Contact Info:
Name: Pauline Ho
Email: Send Email
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814
Phone: 407-401-9768
Website: https://lausconsult.com

Source URL: http://RecommendedExperts.biz

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