Smart ways to respond to—and reverse—declining profitability
Few things are more unnerving than realizing your business is less profitable than it once was—or than you counted on.
Though it’s natural to act fast, resist the instinct to attempt a quick fix. Here’s what to do instead.
Invest enough time to be sure you’ve accurately identified the problem.
First instincts about the causes of profitability problems are often incorrect. That’s why getting a handle on the root causes of your situation is crucial—before taking corrective action.
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Large enough to serve a diverse clientele, yet small enough to maintain a hands-on approach, we are committed to maintaining the highest accounting and ethical standards with continuous education, extensive research resources, and excellent quality control.
Polk and Associates is a member of the Michigan Association of Certified Public Accountants, and the American Institute of Certified Public Accountants. The firm participates in the AICPA Peer Review Program, and has always received the highest level of award for its audit practice and quality control.
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