Maximize Revenues, Minimize Expenses (Count What Comes in, and Control What Goes Out)
Managing a business is a simple matter. It is based on maximizing revenues and minimizing expenses. Profit is simply the difference between the two, and a result of this effort. Therefore, we need to be concerned only with maximizing revenues and minimizing expenses.
We must not be trapped into the so-called "common sense" fixation that raw material costs must be a specified percent of production, or that sales promotion must be a set percentage.
The important thing is to exercise our creativity and exert tenacious efforts to maximize revenues and minimize expenses.