Dr. Sabrina Starling, The Business Psychologist™, reveals the simple habit that will double, triple, and possibly even quadruple your profit in less than a year’s time.
Hi, Dr. Sabrina Starling, The Business Psychologist™ at Tap the Potential, where we specialize in transforming life and cash-sucking small businesses into highly profitable, great places to work.
One of the systems that we use to help our clients double, triple, and sometimes even quadruple their profits in less than a year’s time is the Profit First System. Profit First is written by my friend, Mike Michalowicz. Many of you are familiar with him. In fact, he was recently here at the Entrepreneur’s Retreat Center with me when we hosted Breakthroughs on the Bayou.
We help our clients implement Profit First in their businesses, and we have a tool that we use with our clients, and it’s called the 1% Habit.
When our clients are starting Profit First, we tell them to go ahead and open up an extra account at their bank, call it the Profit Account, and start moving 1% of all the money that comes in in a two-week period into that Profit Account, just 1%. That’s the 1% Habit.
So much of what we do with Profit First is about behavior change and putting healthy habits in place, healthy financial habits in place, in our business. As a psychologist, I can tell you that money and finances causes so much angst for us. We don’t need to get into all of your deep, underlying issues around money. I’m not Sigmund Freud here. I’m all about let’s look at what works, and we know that these simple habits that we put in place in our clients’ businesses, work.
Chuck Parmely: The amazing part about this, and I haven’t implemented the whole thing, I started probably mid year this last year in 2015, and the first thing I did was I set up that Profit Account. I took a certain percentage and I put that percentage into that account every time I made a deposit, and we went from a $20,000 loss last year to over $220,000 profit this year.
Mike Michalowicz: Holy cow.
Sabrina S: There you have it. The power of the 1% Habit. Just get started. To get our Profit First starter kit, text the word PROFITFIRST, all one word, no spaces, to 44222.
Dr. Sabrina Starling, The Business Psychologist™ and author of How to Hire the Best specializes in transforming time-, energy- and cash-sucking small 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 coaching small business owners to extraordinary results, Dr. Starling knows what it takes to find, keep and get exceptional performance out of your biggest investment-your employees. Access her comprehensive video training 5 Secrets to Exceptional Employee Performance (her gift to you!) at www.tapthepotential.com
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Success Case Study
VERA ICONICA ARCHITECTURE
Revenue: Doubling each year
Number of Employees: 6
Length of time in coaching at Interview: 15 months
“Take the risk to change. It’s the hardest thing to do,
but it’s a lot better than being stressed out and being a slave to your company.
To see your own growth is incredibly rewarding.”
–Veronica Schreibeis, Founder of Vera Iconica Architecture
Veronica has rapidly scaled her company, while doubling revenue with strong profitability. In this Success Case Study, Veronica describes in-depth the ways she has utilized coaching to propel her growth.
How many hours per week do you spend working ON your business?
When I survey business owners at the beginning of their work with me, the majority tell me they are working 4 or fewer hours per week ON their business. Most of their time working is spent working IN the business. This is not surprising since most of my clients hire me because they want FREEDOM from the day-to-day involvement in the business. At the start of our work together, most can be away from their business for only brief periods of time before the business grinds to a halt. Continue reading