The 1% Habit that Explodes Your Profit

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.

 

Transcript:

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.

About The Author

Dr. Sabrina Starling, The Business Psychologist and international best-selling author of the How to Hire the Best series and The 4 Week Vacation™, is the founder of Tap the Potential and host of the Profit by Design podcast. At Tap the Potential, we work to free business owners from the constant demands of a growing business.

We believe work supports life, not the other way around. Clients in our Better Business, Better Life coaching program have more time for what matters most and more money in their bank account than they’ve ever had. Next, we send them off on a 4 Week Vacation™ to celebrate their hard-earned journey to take their life back!

Dr. Sabrina and her team at Tap the Potential are on a mission to change the story of entrepreneurship from one of long hours, grinding it out, to one of sustainably profitable businesses that support and enhance life. The Tap the Potential Solution™ and our Tap the Potential Family of Business Owners are disrupting small business as usual. We are on our way to making the Tap the Potential Solution™ the mainstream model for growing business.

By 2023, 150 Tap the Potential clients will have taken 4 Week Vacations. These are the trailblazers, role modeling what’s possible for entrepreneurs. In many entrepreneurial circles, it is becoming more and more common for one entrepreneur to ask another, “Have you taken a 4 Week Vacation™?” (as opposed to asking “How many employees do you have?” or “What is your annual revenue?”). Taking a fully unplugged 4 Week Vacation is rapidly becoming the recognized symbol of entrepreneurial success.

Never one to accept the status quo or back down from a challenge, Dr. Sabrina’s How to Hire the Best series grew from her desire to solve the toughest hiring challenges interfering with her clients’ growth and profitability. What sprang from her experience working with entrepreneurs in rural areas catapulted her into becoming the world’s leading expert in attracting top talent in small businesses—no matter what hiring challenges those businesses are facing—and earned Tap the Potential’s reputation as the go-to resource for entrepreneurs committed to creating Great Places to Work with thriving coaching cultures and highly engaged team members working from strengths.

As The Business Psychologist, and with her years of driving profit in small businesses, Dr. Sabrina knows what it takes to find, keep, and motivate exceptional performance out of your biggest investment—team members.