How to Talk to Your Team About Profit

how-to-talk-to-your-team-about-profit

Each person matters! Team members play a significant role in making and keeping a company profitable. To be profitable, a company has to make more than it spends, and the team members who find ways to take care of our exceptional clients increase sales, save money, and add significant value to our services. A profitable company is a healthy company that becomes a pillar of the local economy, and small companies are responsible for 60-80% of all new jobs in the US. Isn’t it easy to see why each team member is important?

A stable, healthy, and profitable company means that each team member has job security, along with career advancement opportunities, raises, and other benefits. A growing, profitable company can provide jobs for your neighbors, friends, and other community members. This healthy business growth cycle continues on and on–and it all begins with the ways your team members contribute to profitability. Those profit conversations can be challenging and uncomfortable, but I’m here to make it easier for business owners. Join me for a closer look in today’s podcast!

Profit by Design is a Tap the Potential Production.

Show Highlights:

  • How the right conversations with your team members can help them understand the difference between revenue and profit
  • How to equate “eyes on profitability” to having an emergency household account
  • How profitability contributes to job security and a team-oriented workplace
  • Why your team should be working toward profit goals rather than sales goals
Links and Resources:

Download A Guide To Talking To Your Team About Profit and start using it today!

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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.