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Assessing Profit Generation: |
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You should possess accurate data regarding the cost of production in order to keep
a strict control on costs.
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- This will also facilitate concrete decision-making.
- If your business does not make profit, you need to quickly identify the reason.
Make sure you have minimised your costs and, if necessary, adjust your production
volume.
- You should work out your monthly profits by calculating total sales revenue minus
the total costs per month. This will allow you to see whether your business is growing
successfully or not.
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