Logo

    profitable

    Explore " profitable" with insightful episodes like "Features of the Most Profitable NSW Farms in 2023", "Ep. 549 – Sydnie Wells and Barstool Take Over the DU Podcast!", "Never Lose Employees Again", "Sneaky ways Perfectionism shows up and stops you" and "286: Asia Orangio — Crafting a Growth Blueprint for Emerging Startups" from podcasts like ""The Business of Dairy", "Ducks Unlimited Podcast", "Profitable Salon Owner Podcast", "The Soulful Entrepreneur's Club" and "The Bootstrapped Founder"" and more!

    Episodes (74)

    Features of the Most Profitable NSW Farms in 2023

    Features of the Most Profitable NSW Farms in 2023

    What were some of the features of the Top 25% of NSW Dairy Farm Monitor farms in the 2023 financial year? This month’s podcast provides insights into some of the physical and financial metrics associated with their productivity and profitability compared to that of the remaining 75% of farms in the project.

     

    Links to useful resources related to this podcast:

    NSW DFMP Annual Report

    DairyBase

    Link to January 2024 podcast: Highs and Lows of Dairy Farm Monitor 2023

     

    This podcast is an initiative of the NSW DPI Dairy Business Advisory Unit

    It is brought to you in partnership the Hunter Local Land Services

    Please share this podcast with your fellow farmers and colleagues and feel free to contact us with suggestions or comments via this email address thebusinessofdairy@gmail.com

    Further NSW DPI Dairy channels to follow and subscribe to include:

    NSW DPI Dairy Facebook page

    DPI Intensive Livestock Twitter feed

    NSW DPI Dairy Newsletter

    Transcript here 

    Produced by Video Lift

    The information discussed in this podcast are for informative and educational purposes only and do not constitute advice. 

    Ep. 549 – Sydnie Wells and Barstool Take Over the DU Podcast!

    Ep. 549 – Sydnie Wells and Barstool Take Over the DU Podcast!

    Buckle Up for fun and laughter as Sydnie Wells of Barstool Outdoors joins Dr. Mike Brasher on this special episode with first-time duck hunters Wonton Don and Feitelberg of Barstool Sports, along with DU’s own Matt Harrison and Mallori Murphey. Topics include anxious energy amid the morning darkness, mallards backpedaling over decoys, shooting clays among friends, bird migration and the importance of conservation, neckties in the timber, and our love of sharing outdoor experiences with others.

    www.ducks.org/DUPodcast

    Never Lose Employees Again

    Never Lose Employees Again

    The podcast discusses the importance of retaining clients and employees for organizational success.

    Joey Coleman, the guest speaker, emphasizes the power of remarkable experiences in driving client and employee retention.

    He introduced a methodology called "Never Lose an Employee Again," focusing on the first hundred days of an employee's experience.

    The challenge of retaining quality and talented employees is highlighted, especially in industries like salon ownership.

    The employee journey is divided into phases, starting from the assessment phase during recruitment to the accomplished phase when goals are achieved.

    The initial days are crucial for making a positive impression on new employees, ensuring they feel welcomed and valued.

    A buddy system is recommended to foster camaraderie among employees, making it harder for them to quit if they have friends at work.

    The podcast emphasizes the need for salon owners to care about their employees as much as they care about their clients.

    Building connections and understanding employees' goals contribute to creating a positive work environment.

    The importance of personalized and intentional efforts in building relationships with both clients and team members is highlighted for long-term loyalty and success.

    Sneaky ways Perfectionism shows up and stops you

    Sneaky ways Perfectionism shows up and stops you

    Are you a perfectionist or a recovering perfectionist? If you are, then this episode is for you. Sometimes perfectionism is sneaky and can show up and prevent you from moving forward in your life and business. 
    I discuss more in today's episode. 

    Here are five key points from today's episode:

    💫 Perfectionism often stems from childhood conditioning and a need for external validation.

    💫 Over-preparing and seeking perfection can lead to burnout and hinder progress in your business.

    💫 Relentless persistence, not perfection, is a key to entrepreneurial success.

    💫 Understanding your fears and moving towards them can help you break free from perfectionism.

    💫 It's essential to redefine success on your terms and take imperfect, aligned action toward your goals.

    IF YOU ARE READY TO CREATE AN ALIGNED VISION BOARD:
    https://kavita-s-site.thinkific.com/courses/aligned-vision-board

    Ready to book a complimentary 30-minute Elevate Your Business Call?  Book now.

    Get your Free Guide "How to Attract Dream Clients"


    Follow me on Social Media for more tips:
    IG: https://www.instagram.com/kavitalifecoach
    FB: https://www.facebook.com/kavitalifecoach
    LI:
    https://www.linkedin.com/in/kavita-melwani-coach/

    286: Asia Orangio — Crafting a Growth Blueprint for Emerging Startups

    286: Asia Orangio — Crafting a Growth Blueprint for Emerging Startups

    Asia Orangio (@AsiaOrangio), CEO of Demand Maven, joins me as we dive into the world of customer discovery and (go-to) market strategies. We'll discuss real-life examples, like a Gantt chart tool maker who grew their business through customer feedback. This episode is a practical guide on balancing passion with profit and tackling early-stage marketing and growth challenges.

    And if you kinda suck at surveys, this one is for you.

    In our conversation, Asia and I unravel the importance of customer interviews and debunk the myth that customers aren't willing to share their thoughts. We also explore key decisions in scaling a business, from expanding your audience to smart hiring choices. Whether you're just starting or already on your entrepreneurial journey, this episode offers valuable insights into maintaining a consistent customer base and steering your business's marketing strategy.



    Asia on Twitter: https://twitter.com/AsiaOrangio
    Asia on LinkedIn: https://www.linkedin.com/in/asiaorangio/

    00:00:00 Early Stage Marketing and Growth Challenges
    00:12:37 Overcoming Inhibition to Conduct Customer Interviews
    00:18:21 Considering Go-to Market and Freemium Strategies
    00:30:17 Navigating Audience Expansion and Maintaining Consistency
    00:36:24 Hiring and Building a Team
    00:46:19 First Hire Selection and Fractional Hires


    This episode is sponsored by Acquire.com

    The blog post: https://thebootstrappedfounder.com/asia-orangio-crafting-a-growth-blueprint-for-emerging-startups/ 

    The podcast episode: https://tbf.fm/episodes/286-asia-orangio-crafting-a-growth-blueprint-for-emerging-startups 

    The video: https://youtu.be/tQaf64794lw

    You'll find my weekly article on my blog: https://thebootstrappedfounder.com

    Podcast: https://thebootstrappedfounder.com/podcast

    Newsletter: https://thebootstrappedfounder.com/newsletter


    My book Zero to Sold: https://zerotosold.com/

    My book The Embedded Entrepreneur: https://embeddedentrepreneur.com/

    My course Find Your Following: https://findyourfollowing.com


    Here are a few tools I use. Using my affiliate links will support my work at no additional cost to you.
    - Notion (which I use to organize, write, coordinate, and archive my podcast + newsletter): https://affiliate.notion.so/465mv1536drx
    - Riverside.fm (that's what I recorded this episode with): https://riverside.fm/?via=arvid
    - TweetHunter (for speedy scheduling and writing Tweets): http://tweethunter.io/?via=arvid
    - HypeFury (for massive Twitter analytics and scheduling): https://hypefury.com/?via=arvid60
    - AudioPen (for taking voice notes and getting amazing summaries): https://audiopen.ai/?aff=PXErZ
    - Descript (for word-based video editing, subtitles, and clips): https://www.descript.com/?lmref=3cf39Q
    - ConvertKit (for email lists, newsletters, even finding sponsors): https://convertkit.com?lmref=bN9CZw

    • (00:00) - Early Stage Marketing and Growth Challenges
    • (12:37) - Overcoming Inhibition to Conduct Customer Interviews
    • (18:21) - Considering Go-to Market and Freemium Strategies
    • (30:17) - Navigating Audience Expansion and Maintaining Consistency
    • (36:24) - Hiring and Building a Team
    • (46:19) - First Hire Selection and Fractional Hires

    Gareth Evans on Navigating the Energy Transition

    Gareth Evans on Navigating the Energy Transition

    In this episode of Flanigan’s Eco-Logic, Ted speaks with Gareth Evans, CEO and Founder of VECKTA, a platform and team of experts that accelerate and simplify the deployment of onsite energy solutions for businesses globally. With 20 years of experience in the energy and resource sectors, he is an expert in microgrid and distributed energy planning and design, construction and monitoring.


    Currently based in San Diego, Gareth grew up in Liverpool, studied Environmental Science at Lancaster University, travelled around the world, and ended up in Calgary, Canada working for WorleyParsons supporting the cleanup of old oil and gas sites in the Rockies.


    Gareth led Worley’s Global Distributed Energy Systems strategy and Power Networks & Systems team, ending up in the Middle East following the Gulf War, which set his mission in motion; it opened his eyes to a world without access to reliable energy and other basic essentials needed to survive. He saw the impact that can have on the stability of a region, and the health and success of businesses and communities. Driven by this experience, he committed himself to find solutions that create profitable and sustainable energy outcomes such that everyone can thrive. 


    Helping Worley and its clients successfully navigate energy transition, Gareth sought out to empower businesses and communities make the global transition towards a more affordable, secure, and renewable energy future through VECKTA. VECKTA's platform empowers businesses to make data-driven decisions in their energy transition journey. Gareth and Ted discuss his business model, real life examples of businesses harnessing the power of onsite energy solutions, such as wineries and mines, and the future of resilience. 

    Creating Your Aligned Vision for 2024

    Creating Your Aligned Vision for 2024

    Are you ready to create the life and business you want in 2024? Have you ever worked towards something and realized that it didn't bring you the satisfaction you thought? In this episode, I discuss how to create an aligned vision; what's the use of creating what you think you need to be happy? 
    Instead create what your soul desires, fulfill your true purpose and live an aligned life. 

    💫  Setting a Clear Vision

    💫 .Setting Specific Goals

    💫  Taking Aligned Action

    💫  Creating Visual Reminders

    By aligning with the vision, setting specific goals, taking aligned action, and creating visual reminders, the coachee can work towards a successful and fulfilling 2024.

    This episode is part of a series:  

    If you missed last week's episode, on How to Decide where to Invest in your Business

    Here is a link to the first episode: Activate Abundance through your Subconscious mind

    Last week, I mentioned a visualization and exercise to help you clarify your Vision.
    If you want that Click here.

    IF YOU ARE READY TO CREATE AN ALIGNED VISION BOARD:
    https://kavita-s-site.thinkific.com/courses/aligned-vision-board

    Get your Free Guide "How to Attract Dream Clients"


    Follow me on Social Media for more tips:
    IG: https://www.instagram.com/kavitalifecoach
    FB: https://www.facebook.com/kavitalifecoach
    LI:
    https://www.linkedin.com/in/kavita-melwani-coach/

    Self-awareness, Reflection and Energy for Business Success

    Self-awareness, Reflection and Energy for Business Success

    In this week's episode, I share a personal reflection on the past year gone and my intentions for the year ahead. 

    Some highlights from this week's episode: 

    💫 Trusting intuitive guidance and making decisions guided by personal truth.

    💫 Engaging in self-reflection to assess past investments of time and energy and to make conscious choices moving forward.

    💫Utilizing the time provided by the Mercury retrograde for self-reflection and considering what changes are needed in the coming year.

    💫Seeking aligned support and mentorship to elevate the business and address any gaps or support needed for personal and business growth.

    If you are interested in the Aligned Planning workshop course, Send me a message (kavitalifecoach@gmail.com), and will send you more information.

    Ready to book a complimentary 30-minute Elevate Your Business Call?  Book now.

    Get your Free Guide "How to Attract Dream Clients"


    Follow me on Social Media for more tips:
    IG: https://www.instagram.com/kavitalifecoach
    FB: https://www.facebook.com/kavitalifecoach
    LI:
    https://www.linkedin.com/in/kavita-melwani-coach/

    How to Increase Productivity, Leadership & Cultivate The Perfect Team

    How to Increase Productivity, Leadership & Cultivate The Perfect Team
    1. Introduction: Kayla hosts the "Profitable Salon owner" podcast, joined by Jade Green, discussing salon productivity.
    2. Jade's Background: Jade shares her journey from a trailer park upbringing to traveling the globe, working with top industry players.
    3. Career Transition: Moved from headhunting/recruitment to business coaching in Bali and delved into spirituality-business amalgamation.
    4. Mindvalley Involvement: Became a Master Certified trainer, worked with Mindvalley, combining business and spirituality teachings.
    5. Focus on Productivity: Discussion shifts to productivity, the impact of nutrition on energy levels, and optimizing mental/physical health for productivity.
    6. Managing Distractions: Addressing procrastination, identifying permissions we grant ourselves for distractions, and understanding the impact of food choices.
    7. Stacking Rewards: Advocacy for time management through rewarding oneself after focused intervals to boost productivity.
    8. Influencing Team Productivity: Strategies for salon owners to influence team productivity by fostering vulnerability, understanding their staff's perspectives, and creating psychological safety.
    9. Addressing Team Issues: Encouraging open communication with team members about issues like tardiness and finding collaborative solutions.
    10. Flexible Solutions: Advising flexibility in work hours based on team members' personal needs to enhance team efficiency and cohesion.

    Minimum Viable Resources

    Minimum Viable Resources
    Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Minimum Viable Resources. 0:00: Mercer defines "minimum viable resource" as the bare minimum needed to prove a business concept. Jeff suggests using less expensive resources, such as those found on Fiverr, to complete tasks that do not require senior expertise, while still charging the same amount to clients. Sauer advocates for leveraging processes and systems to generate profits in business while minimizing costs. 3:08: Separating labor costs from system costs in business. Jeff discovers that relying on contractors without systems in place can lead to low-profit margins. Sauer suggests separating the cost of a contractor's systems from their labor rate to increase profitability. 5:54: Streamlining business operations for profitability. Jeff discusses the importance of processes and systems in business, citing the McDonald's model as an example of how a well-defined system can lead to consistent results and easier talent acquisition. He shares his personal experience with this approach, noting that he used to focus on selling products without considering the profitability of his business, but has since shifted his mindset to prioritize process and efficiency. Jeff shares a real-world story of how implementing an operating system (EOS) helped his agency reduce labor costs and increase profitability. Sauer emphasizes the importance of getting labor costs down to 25-30% of total expenses to be profitable and sell a business. 11:07: Streamlining business processes for profitability. Jeff and Mercer discuss the challenge of consistently delivering high-quality work while maintaining profitability. Sauer explains that they identified a need for a repeatable system by analyzing their business operations and determining which projects were most profitable. They agree that finding a balance between custom work and standardized processes is crucial for long-term success. 13:54: Profitability analysis for a business. Jeff identifies people as the biggest expense and breaks it down by service line, targeting $200k in revenue per 2 employees for profitability. He discusses the profitability of different service lines in his business, considering options such as specialization, cost reduction, and sales optimization. Jeff emphasizes the importance of analyzing each service line's profitability and taking action accordingly, rather than simply cutting unprofitable lines or investing more in successful ones. 17:05: Managing payroll and efficiency in a business. Jeff discusses the challenges of scaling a digital marketing agency, including managing payroll costs and finding efficiencies without adding more staff. Mercer suggests using AI tools to automate tasks and increase efficiency without adding more people to the payroll. He discusses the challenges of managing payroll during economic downturns, including the need to reduce costs while maintaining employee morale and productivity. Mercer suggests documenting and delegating tasks to reduce the workload of high-performing employees, and using AI or tactical resources to take on some of their responsibilities. Jeff acknowledges that layoffs or adding more work to existing employees' plates are also options for managing a bloated payroll, but emphasizes the importance of finding a balance between cost-cutting and maintaining employee morale. 22:06: Leadership, entrepreneurship, and automation. Jeff discusses the challenges of running a business, including the departure of a key team member and the decision to take on additional responsibilities himself. Mercer shares his personal experience with a similar situation, highlighting the difficulty of having tough conversations and the importance of being proactive in finding solutions. 24:43: Delegating tasks and improving systems in business. Mercer shares his experience of downsizing their team and leveraging AI automation to improve efficiency and productivity. Mercer and Jeff discuss the importance of striking a balance between trusting team members and stepping in as a strategist to guide them toward achieving business goals. 27:16: Hiring and managing resources during economic uncertainty. Jeff predicts a challenging 2024 with a potential buyers' market for resources, leading to consolidation and the rise of minimum viable resources. Mercer agrees with Jeff's predictions and foresees upcoming shifts in the marketplace. Jeff and Mercer discuss the concept of "minimum viable resources" in business, focusing on the idea of specializing within an organization to maximize efficiency and profitability. Jeff emphasizes the importance of having a system in place to ensure the organization benefits from the specialization, rather than simply relying on cheaper or more expensive resources.

    How to Start a Podcast in 2024

    How to Start a Podcast in 2024

    Join us as we pull back the curtain on how to launch a profitable podcast in 2024. Forget the myth of an oversaturated industry and gear up with a solid game plan before you hit the 'record' button. It's a harsh reality that a lot of podcasts fade away before they hit episode 7, so we're here to share our insights on how to break through the clutter. Listen in as we discuss the importance of having a clear vision for your podcast's monetization right from the start. This episode is packed with actionable advice on how to monetize effectively and the importance of honesty about your profitability goals. 

    Switching gears, we turn our attention to the practical side of podcasting: your content style, equipment, and software. Find out how to identify your niche and target audience, and how these crucial decisions influence your content style and monetization strategy. We share our personal recommendations for the best microphones and headphones that won't break your budget, emphasizing that quality doesn't always mean pricey. Learn how to align your podcast's content style with your brand, and why this is essential for resonating with your listeners. Don't miss out on this enlightening discussion packed with tips, experiences, and strategies for future podcasters.

    Create your PodCentral account: https://PodCentral.io

    Follow the brand:
    https://Twitter.com/ChrisPodcasting
    https://Instagram.com/ChrisPodcasting

    The Successful Salon Business Plan (Everything You Need To Know)

    The Successful Salon Business Plan (Everything You Need To Know)
    1. The video features Kayla as the host of the Profitable Salon Podcast with guest Jason Everett.
    2. They discuss the importance of creating a successful and effective business plan for a salon.
    3. Jason shares his experience and mentions having owned multiple businesses.
    4. They emphasize that there is no one-size-fits-all business plan; it depends on the owner's goals.
    5. Jason suggests that a one-page business plan with a clear mission statement is a good start.
    6. Seeking advice from people with experience in a similar business is important.
    7. Jason's business started as a franchise but evolved over 16 years.
    8. They discuss the challenges of letting go of the "hustle culture" in a salon business.
    9. Jason highlights the importance of keeping the business financially sustainable.
    10. They stress the value of learning from mistakes and seeking outside perspectives.

    Ep 490: How To Build Personal Wealth In DTC with Chase Insogna, Insogna CPA

    Ep 490: How To Build Personal Wealth In DTC with Chase Insogna, Insogna CPA

    Create buckets of cash to secure short-term savings, invest in retirement accounts, and keep liquid cash for emergencies and business operations. 

    In this episode, Jordan West and  Chase Insogna, CEO and Founder of Insogna CPA navigates the complexities of taxes and financial planning. Together, they delve into the importance of strategic financial management and offer practical tips for entrepreneurs in the ecommerce space. 

    Listen and learn in this episode!


    Key takeaways from this episode:

    • Reinvesting all profits back into the business may not be the best strategy for personal wealth building.
    • Having multiple buckets of cash, such as short-term savings, retirement accounts, and emergency funds, is important for financial stability.
    • Avoiding external borrowing is a goal in e-commerce businesses.
    • Cash flow management and covering short-term expenses is crucial for business stability.


    Recommended Podcast/Audiobook:

    The Compound and Friends:   Click Here

    The Secrets to Scaling Your Ecommerce Brand: Click Here

    Recommended App/Tool:

    Miles: https://apps.apple.com/us/app/miles-travel-shop-get-cash/id1393913947

    Chase Ultimate Rewards: https://www.chase.com/personal/credit-cards/ultimate-rewards

    Salvit Advisors: https://www.salvit.com/

    Salvit Advisors Leverage Playbook:  https://bit.ly/3RFKaw6


    Why the 'Leverage Playbook'?

    • Data-Driven Decisions: By connecting your analytics ecosystem—be it GA, Shopify, or Amazon—Salvit Advisors will identify 2-3 immediate wins that have been lurking right under your nose.
    • Customized Strategy: Receive a pitch deck tailored specifically for your brand, combining your unique data with their seasoned expertise.
    • Immediate Impact: These insights aren't just theoretical. They're actionable recommendations that can drive tangible profit for your business.

    Data without interpretation is nothing.

    Today’s Guest:

    Chase Insogna, CEO and Founder of Insogna CPA, a licensed CPA in the state of Texas. He has built a successful business, serving clients all across the country. Their unique approach combines transactional expertise with advisory coaching strategies, helping their clients navigate their financial journeys effectively.

    Connect and learn more about Chase and Insogna CPA:

    Website: https://insognacpa.com

    LinkedIn:

    This episode’s sponsor is Finale Inventory- the ultimate solution for accurate and efficient inventory management. Trusted by thousands of brands, Finale offers seamless integrations with over 80 sales channels and platforms.

    With customizable workflows and reporting features, Finale empowers you to streamline operations and scale your business with ease, preventing overselling and maximizing profitability.

    Whether you're juggling multiple platforms, expanding your product range or just looking for a way to reduce operational chaos, Finale has the tools you need to succeed. Step into the future of e-commerce with Finale Inventory.


    Learn more here: Finale Inventory

    92. How To Lead A Profitable, Sustainable, Successful Modern Business That Actually Works

    92. How To Lead A Profitable, Sustainable, Successful Modern Business That Actually Works

    Why do many business leaders expect other people to just "understand" their value in the marketplace?

    You created an LLC. You bought a domain. You built a website. You posted on LinkedIn, Instagram, and TikTok.

    And you're just expecting folk to come running to you after you announced you exist as a business or provide a new service?

    I'm sorry to bring you back to reality, but that's a dream that typically won't come to pass out of the gate.

    Profitable businesses become profitable businesses from great leaders who can provide a clear understanding to others about the value of the business, the impact of the service, the why behind your existence, and where you can take others.

    Whether you're a solopreneur, a co-founder, an executive leader, a director, a manager, or somewhere in between, a business doesn't grow, survive, thrive, scale, and expand without high-quality leadership across the board to drive revenue, leverage effective marketing, produce concrete sales tactics, and cultivate great company culture.

    The question becomes, are you that leader? Can you be that leader? How do you be that leader? And what does that look like?

    This episode will expand on questions you must answer to know what type of leader you are and where you fit into your business. We will also explore the honest truth behind the key metrics to pursue to scale your business and the myths we debunk behind what many leaders need to stop focusing on because it's a waste of time, money, and resources.

    This episode is full of heart, energy, and a barrage of reality checks served with a side of truth.

     

    iDigress Exclusive: This is the first iDigress episode with a video recording counterpart on YouTube. If you watch the video on YouTube and guess one of the random pop-culture phrases throughout the episode correctly and share in the comments, you will have a chance to win a free virtual copy of my book, Strategize Up! I will also give the person or business that provides the best comment summarizing the episode on YouTube an exclusive 1:1 with me for an "Ask Me Anything" experience.

    Note: There will only be five winners awarded a virtual copy of my book and one winner for an exclusive 1:1. You must be subscribed to my YouTube channel and leave the appropriate comment for a chance to win.

    Beyond The Episode Gems:

    Discover All of the Podcats on the HubSpot Podcast Network

    Get Free HubSpot Marketing Tools To Help You Grow Your Business 

    Get Two Free Months of Agorapulse on me: Social.Agorapulse.com/FindTroy

    Grow Your Business Faster Using HubSpot's CRM Platform

    #####

    Support The Podcast & Connect With Troy: 

    • Rate & Review iDigress: iDigress.fm/Reviews

    • Get Strategy Solutions & Services: FindTroy.com

    •  Buy Troy's Book, Strategize Up: StrategizeUpBook.com

    •  Follow Troy's Instagram @FindTroy

     

    Managing for Profit

    Managing for Profit
    Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Managing for Profit. 0:00: How do you think about managing for profit? The whole purpose is to exchange value with the marketplace, and at the end of the day, it should cost us less than what they gave us so that we can have that extra for profit. The team has a lot of say in the finances of the business right now. 3:54: Managing for profit by setting expectations. One way to manage expectations is through KPIs and expectations, telling someone what their expectations are and having them go out there and improve upon or get to those expectations. Another way is to make good choices and put healthy stuff into the system and get healthy stuff out. The rule of five-for-one approach to marketing, and how it was introduced to the Dial team. The two ways to build profit, revenue and expenses, and the goal is to have a 20% profit margin for every $5 in revenue that is brought in. 8:05: Managing for profit. There's a way for you to reduce expenses, because if you don't, you're not going to reduce the dollars of expenses. The 541 rule is either get $5 in revenue or trim $4 in expenses in order to get profit, but either way, it's one way or the other. The goal is to manage for profit, not for activity, and not just to pay the bills. 12:07: Do we need this tool anymore? Tough decisions to ask the team if they want to use the tool or not, and if not to use it, get rid of it. Investing in education and education. 13:27: Managing for profit and expenses. The team is structured to not have to worry about the expenses, but they do talk to their profits coach. Any business has less than $10 million, the answer is almost always revenue, because there's almost no expenses you can cut. The problem with looking at expenses is that it discourages people from looking at the expenses, and they don't see the fact that they're paying out to campaign for two years. The big challenge he has had with numbers, and he's close to solving it. 18:15: What should your profit margin goal be? The importance of having a profit margin goal for an agency, and how to think about what a goal should be. A good profit margin for a agency is around 15% net profit, and anything less than 10% means that you are over-delivering and overdelivering. 20:38: Having a plan for when your business will be profitable. His business is in a weird flux point right now. He's making major team investments to get himself out of the day-to-day, and that's made achieving a profit margin nigh impossible. He's in a major reinvestment phase right now, which means that one business is profitable, but it's feeding another business. The importance of having a time limit on forecasting and having a plan ahead of time to avoid a sunk cost. How to know when this is when this isn't working and cut when it's not working, and how to know that it's time to cut and cut, because people don't want to think about the failure aspect. 25:58: What if the bet doesn't work? It's great if it works, but what if it doesn't. It's hard because you have to have faith when you make a major bet like that. Putting an all-in bet, you need to be all in on it. All-in means either you're going to lose the entire hand. There is a use case to think about shutting down a new offer if the market doesn't want it in any way you want to pitch it, even if it's low probability. A brand is a organic living breathing thing, so if you fail, failure is only when you give up. The only time that you fail is when you pack it up now, which is a sign that you should fail. 30:55: Being a failure vs. being a failure. Fail being being a failure versus failing versus being a fail. The final thoughts on this is that it takes skill and muscle, and it's not something intuitive to everybody. The goal is to keep moving on and dealing with what's in front of you, not ignoring the signs, because those signs are telling you what to do next and how to fix things if you're willing to look at them.

    90. Power, Peace, & Profit: How To Run A MultiMillion Dollar Business For Maximum Productivity & Sustainability.

    90. Power, Peace, & Profit: How To Run A MultiMillion Dollar Business For Maximum Productivity & Sustainability.

    Power. Peace. Profit.  — three things you must have to create a sustainable, successful and growing business.

    But to obtain these things, it comes down to your level of productivity through processes, systems, strategies, and infrastructure. And this is where most businesses fail to implement properly which ultimately leads to their downfall.

    In this episode, I'll dive into how I run a multimillion dollar agency all from my iPad while sharing key systems, tools, frameworks, and productivity hacks to manage it efficiently and effectively not just for the best optimization but also for maximum profits.

    Beyond The Episode Gems:

    Grow Your Business Faster Using HubSpot's CRM Platform

    Buy My Book Strategize Up to Maximize the Growth & Profitability of Your Business

    Get Free HubSpot Marketing Tools To Help You Grow Your Business 

    Discover All of the Podcats on the HubSpot Podcast Network

    Get Two Free Months of Agorapulse on me: Social.Agorapulse.com/FindTroy

    Read My Article on Social Media Pulse: AI-Powered Productivity Hacks for Marketers

    Read My Article on HubSpot's Marketing Blog : 3 Reasons So Many Business Strategies Fail (And How To Succeed)

    #####

    Support The Podcast & Connect With Troy: 

    • Rate & Review iDigress: iDigress.fm/Reviews

    • Get Strategy Solutions & Services: FindTroy.com

    •  Buy Troy's Book, Strategize Up: StrategizeUpBook.com

    •  Follow Troy on Twitter: Twitter.com/FindTroy

    Is Your Business Profitable?

    Is Your Business Profitable?
    Welcome back to the Business Unfiltered podcast with Jeff and Mercer. In this episode we discuss how do you know if your business is profitable? 0:01: Two strategies around profit. 2:45: Strategies for maximizing profit. Strategies to put in place around profit. A lumpy revenue trap. How to get paid twice a month. The main strategy for profit is margins. 7:13: The difference between an agency business and a training business. Two different business models, agency business and training business. The top and bottom line. Cost of goods sold is 25% to 35%. Healthy business margins are important. 11:39: Reinvesting in your business. Reinvesting in the business to prevent burnout. Taking 25% of leftover money. 14:57: The three ways you get paid. Three ways to get paid, salary, profit and book value. 17:52: The difference between a startup and an agency. The importance of having a minimum salary. 19:35: Profit vs. Expense. Expenses are the number one expense in the agency world. How much to invest in growth. 23:34: The importance of retainer consistency. Retainer consistency of revenue is key. Revenue projections are a big part of predicting profitability. Selling a strategy project as a retainer. Selling the retainer as the continuity and ongoing piece. 28:21: How to qualify leads. Qualifying leads and choosing who to work with. Non-negotiable times to be profitable. 33:02: The fruit tree analogy and its value. The fruit tree analogy to the kid analogy. The low-hanging fruit. Holding it to a monthly profit. Final thoughts from Mercer on this topic.

    Ep599: How TerraPay is working to build an inclusive international financial ecosystem

    Ep599: How TerraPay  is working to build an inclusive international financial ecosystem

    Ani Sane, Co-Founder and Chief Business Officer at Terrapay

    TerraPay closed a $100m Series B funding round in April and secured a strategic investment from Visa in May. The firm is expanding, notably in LatAm and MENA, and is promoting the adoption of alternate payment methods for mobile wallets. Ani Sane, Co-Founder and Chief Business Officer at Terrapay speaks to Robin Amlôt of IBS Intelligence at Money 2020. 

    Marketing #10 - Content Marketing

    Marketing #10 - Content Marketing

    The official term “content marketing” from the American Marketing Association could well have been written after having read and embraced the New Testament! But is the mindset of many Christians truly established and effectively operating for proclaiming the gospel of the Kingdom of God? Just how is your church doing at this great privilege? Join Kevin as we take a look at “what to do” and “what not to do” when it comes to content marketing! // Download this episode's Application & Action questions and PDF transcript at whitestone.org.


    Lifting the Vibe with Climate Impact Solutions - The Journey of Tesh Randall

    Lifting the Vibe with Climate Impact Solutions - The Journey of Tesh Randall

    What does it mean to be a climate-positive company? Is it easy to become one?

    Aiming for a goal that seems unclear — or even detrimental — is hard. Many business owners tend to focus on profit. They keep their company running, create a great product, and have excellent sales. Why focus on the environment when it eats into profits?

    But as companies, we can do more. And what's more: being an environmental solution doesn't cut into your profits — it increases them.

    In this episode, Tesh Randall of Raglan Food Co. is here to inspire you to take action and dream big. She talks about how her company became New Zealand’s first Carbon-Zero-certified yogurt company and is set to become Carbon Positive in the near future. She shares tips on how to start a carbon-zero company and what to take into consideration. She also shares how you can impact your people, community, and environment, while still making a profit.

    If you want to learn more about how you can make an impact with your business, tune in to this episode now!

    3 reasons why you should listen to the full episode:

    1. Learn how your business can become a Carbon-Zero Certified company, just like Raglan Food Co. 
    2. Realize the importance of finance and profits when creating an impactful business.
    3. Discover the journey of Tesh and Raglan Food Co. and learn from their insights and challenges. 

    Episode Highlights

    • [02:17] Tesh’s Journey to Raglan Food Co.  
    • [0:555] Businesses’ Responsibility to the Environment 
    • [07:39] What a Carbon-Zero Certified Business Looks Like
    • [11:53] What’s Next for Raglan Food Co.?  
    • [14:17] Raglan Food Co.’s Challenges 
    • [15:54] How the Finances Work 
    • [19:10] How Investors Affect the Business  
    • [23:56] What Tesh Learned  

    Resources

    Enjoyed This Podcast?

    Write a review and share this with your friends.

    Connect With the Profit Reimagined

    Ready to transform your purpose into an impactful business financial story, profit, and joy? Schedule a chat with the team at any time.

    Logo

    © 2024 Podcastworld. All rights reserved

    Stay up to date

    For any inquiries, please email us at hello@podcastworld.io