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201 GREAT IDEAS for Your SMALL BUSINESS, Third Edition by Jane Applegate

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GREAT 24 IDEA: Become a Profit Enhancement Officer

We're all familiar with CEOs, but how about a PEO? A PEO is a profit enhancement officer, and that's what every business owner should be, according to Barry Schimel, a Maryland certified public accountant (CPA) who quit preparing tax returns to devote his life to boosting business owners' profits.

“If you ask employees what their responsibilities are, the word profit rarely comes out of their mouths,” said Schimel. “People do their work, but there's often no relationship between what they do and how it affects the bottom line.”

Beefing up the bottom line is the goal of Schimel's rigorous analysis and intense brainstorming sessions. Schimel says he's helped his clients reap more than $200 million ...

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