How to increase profit without adding sales

To increase profit, a business owner will often try and grow sales, get new customers, and focus on opening new markets. But it’s not always that easy – especially if it’s difficult or expensive to obtain new customers.Instead of pursuing new business, take these steps to increase your profit internally.     Lock in your best customers to increase profitIf your business has a certain threshold of sales, then look to swap poor margin customers with better paying or more profitable customers. Sales may stay the same, but you’ll make more business profit.Sell more online or through other sales channels that don’t rely on employees, warehousing, or other fixed costs to help lower your expenses. Offer good deals to secure these low-cost customers. Spend time and effort to keep customers that are a high percentage of sales and have high profit margins. They are already the ideal customer, so make sure they don’t leave. Review those customers with a high percentage of sales but for some reason they have low profit margins. See if you can switch them to higher margin products, or upgrade them to higher margin services. You’d be surprised what a very small (1- to 5-percent) price increase will...