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Profit Leaks from the Foundation



Key insights

  • ๐Ÿ’ฐ Understanding your business numbers is the golden insight to achieving your goals, because the numbers actually reveal things.

  • ๐Ÿ™ Trusting God to help you say no to a sale because it's not the right one can be a powerful business decision.

  • ๐ŸŒ It's important to consider impact and lifestyle along with income in order to achieve true success.

  • ๐Ÿ’ฐ Identifying profit leaks and optimizing revenue can help achieve financial goals while working fewer hours.

  • ๐Ÿ’ฐ Small business owners often rely on hope as a strategy due to lack of financial training, but they can access the same expertise as big companies through fractional services.

  • ๐Ÿ’ฐ Planning for failure in the financial world may seem like suicide, but it's important to be realistic about projections and not just be overly optimistic about revenue.

  • ๐Ÿ• "Hope is not a strategy for getting a piece of pizza. It's also not a strategy for profit."

  • ๐Ÿ’ฐ Start with your mindset and decide to be profitable, even if it means increasing your profit margin by just 1%.


Summary


  • ๐Ÿ“Š 00:00 Understanding business finances is essential for success, with accounting offering valuable insights and opportunities for profitability. Expand

  • ๐Ÿ“Š 05:18 Understanding key numbers in your business can help achieve goals, connecting with business owners is important, and the speaker incorporates their Christian faith into their work as a CFO. Expand

  • ๐Ÿ“ˆ 09:16 Trusting in God and tithing off revenue creates positivity and integrity in business, impacting income and lifestyle goals. Expand

  • ๐Ÿ’ฐ 13:02 Prioritize income, impact, and lifestyle, increase revenue, reduce costs, and find overlooked profit centers to achieve the same profit while working fewer hours. Expand

  • ๐Ÿ’ก 17:37 Small business owners need to focus on income and impact, rely on projections, and plan for failure to ensure long-term success. Expand

  • ๐Ÿ“ˆ 21:27 Plan for profit, prioritize paying yourself, and use projections like a GPS to achieve success in business. Expand

  • ๐Ÿ’ก 25:28 Focus on knowing your numbers, making small adjustments to key financial metrics, identifying and eliminating unnecessary expenses, and focusing on upsell opportunities to increase profit in your business. Expand

  • ๐Ÿ“‰ 29:09 Christy shares valuable insights on business profitability and invites viewers to connect with her for more information.

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