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    July 2013
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    10 Tactical Tip to capitalize on opportunities.

    Mark Borkowski

    Pull out your notes or thoughts on strategic suggestions and apply
    the following 10 tactical tips below to optimize opportunities,
    maximize your profits, grow your company, and meet your goals:
    Brainstorm on how or where you can apply these tactics on your
    strategies:

    1. Make sure you know who your top 10 most profitable
    customers are. How can you grow your products and
    services in a way that helps them more and gives you
    greater revenue?
    2. If one of your top 10 clients no longer does business with
    your company, what other company can move into its spot?
    3. Work together with your team to forge ahead with a new
    product or service.
    4. Accelerate current business.
    5. Pass up sales that would be profitable but hard to collect.
    Lower-cost transactions that are made consistently will be
    better on your company’s balance sheet.
    6. Fix customer complaints right away. Don’t wait.
    7. Periodically review your product or service’s pricing structure.
    8. Shed the dead weight of customers who no longer support
    your company’s financial and strategic goals. Ask the
    accounting staff which customers cost the company money
    or abuse your employees. Getting rid of them will create
    company-wide goodwill and increase company profits.
    9. Invest in the latest technologies that will boost your
    company’s bottom line.
    10. Don’t let your company be hit too hard by deferred revenue.
    Small companies can be hit especially hard by this issue.

    Mark Borkowski is president of Mercantile Mergers & Acquisitions Corporation. He can be reached at www.mercantilemergersacquisitions.com

    The MONEY® Network