In this episode, I'll discuss how to decipher your profit and loss statement to identify if pricing is a problem, and how to make strategic adjustments to scale your business effectively. By analyzing core offers, gross margins, and net margins, we'll explore ways to optimize profitability. I'll also share practical strategies to align your pricing with market value, reduce costs, and structure offers to encourage customer loyalty. Whether you're struggling with cash flow or just curious about boosting your margins, this episode provides actionable insights to help you make more informed financial decisions. Tune in and transform your approach to pricing and profitability!
What You'll hear in this episode:
[00:50] Understanding Profitability and Cash Flow
[01:50] The Importance of Gross and Net Margins
[03:10] Analyzing Your Core Offer's Profitability
[04:15] Strategies to Improve Gross Margin
[05:20] Pricing Strategies and Market Alignment
[07:30] Incentivizing Customer Purchases
[09:05] Testing and Adjusting Your Pricing
[11:30] Final Thoughts on Pricing and Profitability
If you like this episode, check out:
How to Package and Price Consulting Services with Michael Zipursky
Avoid These Pricing Red Flags with John Ray
Differentiating Between Margin and Markup
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
