If you are like most business executives, you are in one of three camps:
1) Constantly on the lookout for opportunities to increase net income
2) “Sitting on a whale fishing for minnows”
3) Happy just to have your job and that no one is complaining to loudly and don’t want to rock
the boat.

If you’re in the first camp, you’ve likely already pull all the levers you know and need to find some new ones. If you’re in the second category, you probably want to find a lever which will help you make some incremental improvement without being too risk. And yes, even if you are willing to admit you are in the third category, it might be a good idea to have one or two ideas in your back pocket just in case the Board of Directors, your senior executive or your business partner decided good enough just isn’t any more. The tricky part is knowing which levers to pull and having the time to pull it all together in a way that’s compelling for those who may need to approve the changes necessary to produce the desired results.

What actions should a manger consider in this situation?
While every aspect of a business can impact profitability, the first things to consider are the basic financial building blocks of and key drivers of profitability. At the most basic level, profitability is driven by total revenues minus total expenses. While that is obvious to most business people, the basics are a good starting point.