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How to increase Magento site speed in Godaddy shared hosting?

I m using a Godaddy shared hosting server for my magento store. It takes a too long response from the server. I optimized the magento site with the default options like,

  1. Enable cache in back end
  2. Enable compiler
  3. Merging Css/Js
  4. Leverage browser cache
  5. Image optimization etc.

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But there is no improve my site performance. 

I need to optimize anything in my site or it is an issue from godaddy?

Helper VI

Magento is backend heavy.  You can do all the client optimizations you mentioned above but that will only speed up the DL speed of your client resources.  It will not speed up the time it takes for the server to respond to requests.  You will need a faster server and networking for the servers to improve your backend.  If you have the ability to move your DB to the same server as your Magento, do it... but since it's a managed server, you likely wont.

~Jan Mykhail Hasselbring Web Administrator @