Don’t underestimate the power of a 1% improvement
A simple 1% increase in prices can yield up to 10% in increased profits – Prof. Hermann Simon
Next time you look at your P&L, run projections with a 1% improvement in pricing.
Apart from pricing, the power of 1 is applicable on 7 metrics.
7 things you should improve by just 1
— Increase Price by 1%
— Increase Revenue by 1%
— Reduce COGs by 1%
— Reduce OpEx by 1%
— Shorten accounts receivable by 1 day
— Shorten inventory days by 1 day
— Increase accounts payable by 1 day
Collectively, just a quarterly 1% change can turn around your business.
![Power Of One](https://retainup.co/wp-content/uploads/2024/06/Pasted-image-20240603153226.png)
Great framework by Alan Miltz to help brands improve their cash flows.
Ecommerce businesses are cash guzzlers.
Implement this framework for your own peace of mind.