What you should remove from your product portfolio

Hello readers, hope you are all good. Today, I will be writing about products that you should remove from your product portfolio in order to increase profitability especially in situations whereby your cost exceeds those of your peers. Here they are

Break-even

When a product continues to fall below the break-even point after the predicted number of years it will take to break-even, since its contribution to profit does not cover the fixed cost then the product should be removed from your product portfolio . Removing the product will help boost your profit.

Stagnant growth

When you introduce a new product to your business market and realise that the product is stuck in the introduction stage of the product life cycle you should remove such products from your portfolio as such products are more likely to be making losses.

Products that are making losses

You should identify products that are bringing you losses and stop producing them. Since your aim is to increase profit.

Make sure your business is halal. Everything should be done seeking the pleasure of Allah. Part of seeking His pleasure means hoping for a reward from Him in this life and the Hereafter. Everything happens according to the will of Allah (you have freewill, therefore, you are responsible for your actions).

Halal means anything lawful Islamically.

Alhamdulillah (Praise be to Allah). May Allah send peace and blessings to Prophet Muhammed (P.B.U.H). Thank you for reading this article. Like this page on facebook. Keep reading this blog regularly. Cheers!

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