Increase Margins refers to the process of increasing the profits produced by a business by raising the sales price of products, decreasing costs associated with production and delivery, or both. In short, it is an effort to make your business more profitable – and it can be done in a variety of ways. For instance, you could focus on streamlining processes and cutting back on redundant expenses; the end result would be increased margins from decreased overhead and resources used per-sale. Alternatively, you could adjust pricing in order to capture a greater portion of the market share for your products – allowing for higher profit margins. No matter what route you choose, taking steps towards increasing margins is essential for sustainable growth in any company.
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