32 min
Episode 165: How to Find (and fix) Profit Leaks in Your Business Female emPOWERED: Winning in Business & Life
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- Entrepreneurship
Hey guys! Today is a new episode of Female Empowered and I will talk about how to find and fix profit leaks in your business.
What Do We Mean By Profit Leaks
Our business is like a bucket. The money that comes into our bucket is revenue, sales, and all of those things. The money going out of the bucket are our expenses.
However, sometimes, there will be leaks in our bucket and sometimes we do not realize it or we cannot stop it. So, to help with the leaks, I will be sharing with you where to find the leaks and how you can fix them because this can have a real impact on the bottom line of your business at the end of the year.
It’s a snowball effect and you have to understand that when there’s a leak, it affects the profitability of your business, how you can pay yourself and your staff, and more!
Let’s discuss:
What are profit leaksExamples of obvious leaks in our businessAnother way to find leaks: Is there unutilized space in your brick and mortar locationThe profit leaks that are more difficult to findPeople LeaksAre you the right leader for your business?B, C, D, and F players on your teamF players are easy to get rid offC players are more difficult to let go but they could be causing you leakage in your businessDo you have the right people advising you on your finances Right people in the right seats Strategy LeaksHow my team and I analyze our strategiesRevenue is a vanity metric, cash is kingThe importance of mission and vision in relation to profit leaksTactics vs strategyChasing revenue vs looking at profitability and sustainabilityExecution or Implementation LeaksWhat could be failing in the systems and processesAre you effectively communicating your goals to your teamAre you emphasizing the wrong priorities to your teamProfit is a means to end goalsAn example to help you understand more about profit leaksThe importance of meetings where people are held accountable over 2-3 initiatives
I hope that you enjoyed this episode and you learned a lot from it. I invite you to check out my Work With Me page on my website. We are now open for enrollment for our Inner Circle program and Fitbiz Foundations program!
Looking for advice and resources to help you market and grow your clinic or client based business? Visit my website or follow me on Instagram!
Thanks for listening! If you enjoyed this episode, please leave a review for the show to help other female fitness and wellness professionals find our podcast!
Interested in being a guest on a future Female Friday episode? Email me at Christa@pilatesinthegrove.com!
Hey guys! Today is a new episode of Female Empowered and I will talk about how to find and fix profit leaks in your business.
What Do We Mean By Profit Leaks
Our business is like a bucket. The money that comes into our bucket is revenue, sales, and all of those things. The money going out of the bucket are our expenses.
However, sometimes, there will be leaks in our bucket and sometimes we do not realize it or we cannot stop it. So, to help with the leaks, I will be sharing with you where to find the leaks and how you can fix them because this can have a real impact on the bottom line of your business at the end of the year.
It’s a snowball effect and you have to understand that when there’s a leak, it affects the profitability of your business, how you can pay yourself and your staff, and more!
Let’s discuss:
What are profit leaksExamples of obvious leaks in our businessAnother way to find leaks: Is there unutilized space in your brick and mortar locationThe profit leaks that are more difficult to findPeople LeaksAre you the right leader for your business?B, C, D, and F players on your teamF players are easy to get rid offC players are more difficult to let go but they could be causing you leakage in your businessDo you have the right people advising you on your finances Right people in the right seats Strategy LeaksHow my team and I analyze our strategiesRevenue is a vanity metric, cash is kingThe importance of mission and vision in relation to profit leaksTactics vs strategyChasing revenue vs looking at profitability and sustainabilityExecution or Implementation LeaksWhat could be failing in the systems and processesAre you effectively communicating your goals to your teamAre you emphasizing the wrong priorities to your teamProfit is a means to end goalsAn example to help you understand more about profit leaksThe importance of meetings where people are held accountable over 2-3 initiatives
I hope that you enjoyed this episode and you learned a lot from it. I invite you to check out my Work With Me page on my website. We are now open for enrollment for our Inner Circle program and Fitbiz Foundations program!
Looking for advice and resources to help you market and grow your clinic or client based business? Visit my website or follow me on Instagram!
Thanks for listening! If you enjoyed this episode, please leave a review for the show to help other female fitness and wellness professionals find our podcast!
Interested in being a guest on a future Female Friday episode? Email me at Christa@pilatesinthegrove.com!
32 min