To dramatically increase profits, increase both your sales and operational efficiency. While many people will point out the need to cut fixed expenses, (overhead cost), these at best make a minimal impact on P&L performance. And often, this impact cannot last.
However, by increasing operational efficiencies, direct cost, especially labor cost, will be controlled. When these direct costs are better managed, these resources (materials, labor, etc.) become more productive.
With increasing operational productivity, each new sales dollar makes a bigger impact on the bottom line. Having strategies, that when executed, drive sales and control direct cost, is the sure fire way to dramatically increase the bottom line.