Increasing the Profits of a Business Requires Multiple Competencies

CoMetrics Partners pic
CoMetrics Partners pic
CoMetrics Partners

The cofounder of CoMetrics Partners, LLC, Gary D. Herwitz serves as managing partner of the New York-based consulting firm, which has clients throughout the world. With a range of consulting experiences spanning more than 30 years, Gary Herwitz has developed expertise from an array of disciplines and has ultimately become a highly sought-after leader to middle-market companies seeking to grow their operations.

One method of growing business profits is by implementing a practice called growth by duplication. This process requires that a variety of business specialties unrelated to the business itself are incorporated to help generate results. Such specialties range from management and financing to accounting and supervision.

Growing a business by duplication requires that the approaches that work best to produce results in one location are reproduced and created again in another location. Another term for this method is the “cookie-cutter” approach. There are small-scale and large-scale ways to manage this. Small-scale duplication may include putting up another store in a different neighborhood to increase profits by way of reaching out to a new pool of consumers to sell more products. Large-scale duplication may include creating franchises, becoming publically owned, or becoming an acquisition of a bigger organization.