The Small Business School Podcast
Ready to leave the small business struggle behind? The “School for Small Business” podcast supports small business owners in scaling a business that is profitable, purposeful, and doesn’t leave you burnt out. No matter whether you run your business online or you own a brick-and-mortar, you can expect our world class experts to support you with mindset, tactics, and everything in between so you can have the business you dreamed of. Based on our lived experience, we know that small business CAN be easy and we are here to show you how.The “School for Small Business” is hosted by Staci Millard, a CPA by trade with over 15 years of experience seeing the behind the scenes of thousands of small businesses. After growing and selling her first 7 figure business, Staci has been on the ground running - mentoring small businesses and working to increase success rates. Staci strongly believes you don’t need to have gone to business school to be successful so you can expect nothing but simple, impactful advice. Tune in each Tuesday for a new 30 minute or less episode of nothing but valuable advice to help you grow your small business. We are so excited for you to be on this journey with us!
The Small Business School Podcast
Understanding Your Profit Patterns
Welcome back to Small Business School! I'm thrilled about today's episode because we're diving deep into the heart of your business: Profit. Don’t ignore this episode because you think you know what profit is! Stay with me, it’s more than crunching numbers; it's understanding the patterns and relationships between!
Topics Covered:
- Profit isn't just about revenue and expenses; it's understanding the relationships and patterns between them. It's not just the 'what,' but the 'how' and 'why.'
- Expenses aren't just a lump sum. They fall into two categories: the cost of goods linked to your product/service and overhead, and the recurring expenses that happen no matter what.
- The importance of strategic decision-making. Whether it's managing overhead, understanding variable expenses, or choosing high volume vs. high margin, it's important to make informed decisions for sustainable profit.
- If you're in the service game, it's not just about delivering—it's about delivering at a profit.
Profit is more than a numbers game! If you have questions about navigating your business’ margins and understanding the patterns, reach out to me on Instagram, I’d love to connect!
Staci's Links:
Instagram. Website.
The School for Small Business Podcast is a proud member of the Female Alliance Media.
To learn more about Female Alliance Media and how they are elevating female voices or how they can support your show, visit femalealliancemedia.ca.
Head over to my website https://www.stacimillard.com/ to grab your FREE copy of my Profit Playbook and receive 30 innovative ways you can add more profit to your business AND the first step towards implementing these ideas in your business!