154. "Profit Leaks" with Michelle Scribner

Dawn talks with Michelle Scribner. CEO, MASTER CERTIFIED PROFIT FIRST PROFESSIONAL, REAL ESTATE EXPERT. Michelle Scribner is the CEO of Sum of All Numbers, a leading financial analysis and planning company with full-charge bookkeeping services. Dawn and Michelle talk about Profit Leaks.

In this episode…

Who is Michelle Scribner and whom does she serve? (1:03).

Where are you seeing profit being leaked now? (1:26)

Are you also seeing issues with annual subscriptions and unexpected price increases impacting cash flow, in addition to monthly expenses?(3:12)

How often do businesses review the value of recurring fees and price increases, rather than just accepting them as a cost of doing business? (8:02)

With the current market's high price sensitivity, where can businesses focus on tightening their profit margins without changing their operations or production models?(11:32)

How often should businesses review their revenue lines and cost structures, especially in light of frequent changes like those seen in the coffee industry, where margins and sales can shift rapidly?(15:16)

How do you handle the impact of tough decisions on profit leaks, particularly when market forces lead to results that differ from your expectations? (20:19)

Do you think ad spending and marketing budgets can be a source of hidden profit leaks for businesses, especially when algorithms change and results aren't as expected? (23:08)

Where else could we potentially be pouring money out with good intentions, with an expectation of a result that we need to really closely monitor at this point?(27:32)

Michelle Scribner’s Information.

Website: https://sumofallnumbers.com/about-us/

Instagram: https://www.instagram.com/sumofallnumbers/

Facebook: https://www.facebook.com/SumOfAllNumbers

LinkedIn: https://www.linkedin.com/in/michelle-scribner-94ab881aa/