Description

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!

Staci's Links:
Instagram. Website.

The School for Small Business Podcast is a proud member of the Female Alliance Media.

To learn more about Female Alliance Media and how they are elevating female voices or how they can support your show, visit femalealliancemedia.ca.

Head over to my website https://www.stacimillard.com/ to grab your FREE copy of my Profit Playbook and receive 30 innovative ways you can add more profit to your business AND the first step towards implementing these ideas in your business!