To increase your sales, try cross-selling—offering new services or goods that complement your current offerings (such as a chiropractor selling vitamins). Switch to a relationship-based sales model that gets customers coming back to you—offering monthly or yearly service plans, or a bundle of visits at a discounted price (like a series of 10 gym visits). Another operational change that can increase profits is incentivizing new customers to try your product with specials deals, discounts, or short-term giveaways.

On the flip side, to trim expenses, try auditing your administrative functions. Are there routine tasks you could afford to outsource or eliminate to save money? Would it be more cost-effective to hire part-time help instead of a full-time employee to do some of these tasks?