“When you get clear that profit is powerful for you — and when you allocate and can see where it goes — that is very, very often a massive driver to increasing your revenue and your business success.”
- Shelagh Cummins
If you’re a regular listener of the Road to Seven, chances are you’ve already set a revenue goal for your business this year — but do you have a solid plan for your profit?
Every smart entrepreneur knows the importance of having a revenue goal. Once you’ve settled on a number, you can calculate how many programs, products, or services you need to sell on a weekly, monthly, or quarterly basis to hit that goal. A strategic revenue goal should be high enough to cover your operational expenses, salary, payroll, and taxes… and leave enough for profit.
While profit is one of the most exciting parts of entrepreneurship, I see many business owners freeze up when it comes to figuring out what to do with it! Profit is POWERFUL — it can be a massive driver to increasing your revenue and your overall business success. It can raise your confidence and lead to new opportunities.
But you need to know how to allocate it.
If you want to be strategic in growing your business, you can’t just keep all of the profit for yourself. This episode reveals multiple ways to handle your profit — and get it to really start working for you and your business!
In this episode of the Road to Seven podcast, you’ll discover:
Highlights:
01:07 Intro
02:23 What profit looks like
03:59 What to do with profit
04:44 Establishing bonuses
06:11 Donating to causes
07:38 Investing in other businesses
10:21 Holding onto profit
11:41 The power of profit
Links:
To work with me and make your next power move, visit:
https://www.theroadtoseven.com/
Stay Connected
Like what you’re hearing? Click here to subscribe in iTunes for more episodes to boost your Road to Seven today! I have more episodes with great tips and conversations with women that are revolutionizing the way we do business - don’t miss it!
You can also join the Road To Seven Facebook group to meet other like-minded entrepreneurs who want to band together and help each other rise up.
I would be really grateful if you left a review on iTunes so that others can find and boost their business too! Just click here to review, select “Ratings and Reviews” and “Write a Review” I’d also love to hear what your favourite part of this episode is in the comments below. Thank you!
Follow me!
Instagram: @shelaghcummins
Twitter: @shelaghcummins