The Small Business School Podcast
Ready to leave the small business struggle behind? The “School for Small Business” podcast supports small business owners in scaling a business that is profitable, purposeful, and doesn’t leave you burnt out. No matter whether you run your business online or you own a brick-and-mortar, you can expect our world class experts to support you with mindset, tactics, and everything in between so you can have the business you dreamed of. Based on our lived experience, we know that small business CAN be easy and we are here to show you how.The “School for Small Business” is hosted by Staci Millard, a CPA by trade with over 15 years of experience seeing the behind the scenes of thousands of small businesses. After growing and selling her first 7 figure business, Staci has been on the ground running - mentoring small businesses and working to increase success rates. Staci strongly believes you don’t need to have gone to business school to be successful so you can expect nothing but simple, impactful advice. Tune in each Tuesday for a new 30 minute or less episode of nothing but valuable advice to help you grow your small business. We are so excited for you to be on this journey with us!
The Small Business School Podcast
Business Builders (Pt:8) Revenue Vs Profit
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In this installment of Business Builders, we are diving deep into a crucial mindset shift every scaling business owner needs, focusing on profit over revenue.
It’s easy to get caught up chasing more sales, but what really matters is how much you’re actually keeping in the business. Let’s put our CEO hats on and get real about profitability!
Key topics covered:
- Revenue vs. Profit: Why growing revenue isn’t always the win it seems if profit margins remain razor-thin.
- Understanding the Three Pillars of Profit: overhead, cost of sales, and revenue.
- How to adjust pricing and streamline operations for better margins.
- Why keeping existing customers is more profitable than constantly chasing new ones.
- It’s not about how much you make, but how much you keep of what you make!
Challenge: Do a profit vs revenue check from last month, include everything, including your salary/what you paid yourself!
Then, figure out what adjustments you need to make for next month to your three profit pillars. Keep doing this every month until you start to see the shifts you need!
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