We know that starting and running a small business is such a rewarding experience where every day is a new opportunity to learn and grow. But, there are often times we become confused with our figures and lost in our bank accounts, so I’m here to help you understand your profit and how to manage it correctly.
Do you have profit strategies set up in your business? These are the systems, processes and actions you have in place to ensure you’re making a profit and keeping it. At Accounted For You, we help our clients with this every single day and probably without them even realising.
In this episode, I’m going to take you through my profit strategies so you can learn how to manage your money right.
We’ll explore how to:
- Price for profit. Check out my Free Pricing Calculator here!
- Pay yourself.
- Manage your payables and receivables. Pay your bills on time and follow up on the clients who owe you money.
- Effectively use multiple bank accounts and manage your cash flow.
Everything in business is fluid. A really important aspect of being a business owner is moving and learning to be proactive and not reactive. If you monitor your spending, have a budget to keep you on track and accountable, understand and manage your accounts receivable and payable, and surround yourself with a team of professionals – you’ll increase your sales and profit with confidence, intention and strategy.
PREVIOUS EPISODES MENTIONED:
- Pricing for profit (and mistakes to avoid)
- Growing your business: How to scale your tax planning – with Melissa Smith
- Simple Steps I Use To Increase Profit
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