How to Increase Profit Margins as a Coach or Service Provider | E4
Do you keep seeing dwindling profits in your business, even though you're growing in revenue every single year?
Increasing your profit is not only about creating a healthy and stable business, but it's through your profit margins that you’re able to pay yourself more and support your immediate lifestyle goals and your long-term legacy.
In this episode, you’ll learn about the 5 Profit Focus Areas that will help you see how you can leverage your profit to support your business, lifestyle and legacy goals and how to balance them.
Iyanna will also bring you through the tactical approach for how to determine where your profit margins are, where they need to be and what your “gap” is between the two so you know when you need to focus on profit or revenue (or a combination of both).
She also offers ideas based on your business model to stabilize your revenue and focus on what will increase your sales and profit the most to support you long-term.
Tune in for:
03:33 — The 5 Profit Focus Areas that will allow you to increase your profit and cash on hand to support your business, lifestyle and legacy goals
08:25 — Profit planning for coaches and service providers with recurring revenue
14:30 — Profit planning for service providers and influencers who work on projects
20:58 — Profit planning for beauty-based service providers
21:15 — How to track your finances and set guidelines for your expenses
Register for the Free Webinar on April 26 at noon EST: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
📚MENTIONED IN THIS EPISODE