From barely breaking even to huge profits…
Chuck Parmely owns a $3.2 million dollar overhead door business – which sounds like a wildly successful business until you find out that his company has been in existence for 37 years, barely scratching 1% to 3% profitability; in other words, his business wasn’t making any money and surviving check by check. Chuck has implemented Profit First under the direction of Dr. Sabrina and subsequently, a business that had a $20K loss in 2014 turned around and achieved a $220K profit in 2015, and 2016 is looking even better… all while in a rural area that was experiencing an economic decline.
Chuck’s success story has been so impressive that his accountant went out of his way to visit him and figure out his formula to success… and that’s what you’re about to find out!
Chuck and Dr. Sabrina were recently interviewed by Mike Michalowicz on the Profit First Podcast! Listen in to the interview…
If you want to dive deeper into the strategies Chuck has applied, you don’t want to miss the upcoming Profit First Event with Mike Michalowicz.
Dr. Sabrina Starling, The Business Psychologist™ and author of How to Hire the Best specializes in transforming time-, energy- and cash-sucking rural businesses into highly profitable, Great Places to Work!
Employee problems can be one of the biggest stumbling blocks for any business owner. With her background in psychology, and years of driving profit in small business, Dr. Starling knows what it takes to find, keep and get exceptional performance out of your biggest investment-your employees.
Catch her next Masterclass, Quickly Double Your Profit with Top Performing Employees and access her comprehensive video training 5 Secrets to Exceptional Employee Performance (her gifts to you!) by texting EMPLOYEES to 44222.
Have you been noticing how difficult it is to be profitable as your business grows? If you’re like me, when you started out in business, you probably thought that “one day” you’ll actually make more than you spend—that you’ll actually be profitable.
Yet, for some reason, that day never comes. Your business grows, but so do expenses. You keep getting by paycheck to paycheck.
This is actually very common in businesses below $5 million in revenue. In fact, business owners in this range are very vulnerable to being sucked into the ‘Profit Black Hole’ where no matter how much revenue increases, costs increase even more. Why is this?
Every small business owner likely has 4 types of employees on their payroll. Two of these 4 types of employees are the slow kiss of death for your business. Find out which of these employees you actually have on your payroll and what to do with each type.
Profit is a mixed bag for most of us small business owners.
It’s very discouraging year after year to pour your blood, sweat and tears into your business, trying to make it better, trying to grow and be profitable, then, at the end of the year to hear from your accountant that you barely broke even—yet again.
Then there is the general public’s perception of small business owners—that we are all rich… that our higher prices are padding our own wallets…that we pay our employees the lowest possible wages and provide the minimum amount of benefits, just so we can jet off to exotic locales, live lavishly and drive fancy vehicles. All it takes is for one customer to question a price and the owner feels pushed into lowering the price, even as the owner struggles to meet payroll.
The truth is that many business owners lay awake at night worrying about cash flow, dreading potential layoffs when the economy is bad, and worrying about meeting payroll—so much so that they are often the lowest paid employee on the payroll, and the first to skip a paycheck just to keep the doors open.
Profitable businesses are healthy businesses. When a business is healthy, the owner thrives. When the owner thrives, the employees thrive. When employees thrive, customers are treated well and have a good experience with the business. Continue reading
Here’s a big shout out to Billie Anne Grigg, CEO of Pocket Protector Bookkeeping, for winning the Profit First Rockstar of the Year Award! Continue reading