What assets did you create in 2017 that you can leverage? Plus… tips for not falling prey to ‘Bright Shiny Object Syndrome’ … avoiding an ‘overweight’ business that kills profit … higher level strategy with the 80/20 principle and MORE…
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?
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 was 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! Request our Profit First Starter Kit and join Chuck on the journey to profitability.
Chuck and Dr. Sabrina were interviewed by Mike Michalowicz on the Profit First Podcast, Episode 73.
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!).
It’s really not hard at all to be profitable in your small business. Yet, the majority of small businesses barely break even, year after year. Why is this? Continue reading