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!).
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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Did you know that leaders in successful companies devote more than 50% of their time to sourcing top performing employees for the business?
As a small business owner that can seem pretty daunting. After all, we’re wearing multiple hats and juggling so many responsibilities as it is!
The good news is… Continue reading
Finding a buyer for your rural business can be a challenge. Chuck Parmely found a solution.
Chuck Parmely, owner of The Overhead Door Company of Riverton & Lander, has been working in the business since he was 10 years old. At that time, his father owned a glass shop and “dabbled in” garage doors, which Chuck would install after school. Continue reading
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You might find yourself walking around muttering, “Why can’t my employees just get on board? Why can’t they just see the value in what I’m trying to implement?”
How do you get employees on board with innovation?