Business Mastery Podcast
Business is dynamic. And everything affects you and your business. Fight with your mother-in-law? Mindset struggle? Market Changes? YUP. So, we're going to talk about it all. No topic is off limits.
The goal for every episode is to offer a new and different perspective or provide actionable strategies you can implement now. On the topics you need, to help you run the small business you love, more successfully. To master your own business and to master yourself as its leader and decision maker.
Every Wednesday Dawn K. Kennedy, an attorney, author, mentor and the CEO of Convoy Road Coffee Roasters, releases a new episode for your middle of the week dose of ideas and inspiration. In 45 minutes or less.
Small bites, expert guests, big impacts.
Whether you are a new or seasoned entrepreneur, this show is about all the things around making a bigger impact with your pursuit and growing into your entrepreneurial vision.
Business Mastery Podcast
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/
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Order Dawn’s book, The Profit Accelerator for Small Business The Profit Accelerator for Small Business: Kennedy, Dawn: 9781736208601: Amazon.com: Books