How to grow your business and remain profitable at the same time
"Is it possible to be profitable while you grow your business?"
That's a great question!
A lot of entrepreneurs and business owners expect slow growth and not much revenue in the first couple of years of running their businesses because that’s what they hear over and over again in the media and on socials. People’s hard slog that they did for the first 12 - 24 months of their business, the struggle story before they made it big.
"You need to put in a couple of years of hard work before you see any traction in terms of revenue generation and you should expect to pay out more than you bring in."
But does that really have to be the case?
My special guest on the podcast says profitability is possible while you grow your biz but you need to understand your numbers and create an intentional financial plan in order to set yourself up for success.
Hi! I'm Marissa.
My courses, consults and trainings help entrepreneurs lighten their workload while they grow their business, for more income AND more freedom.
Host of the Profit and Prosper podcast and founder of Young + Co, Sarah Young is obsessed with helping business owners find financial peace and generate freedom and wealth. Sarah spent years honing her business and accounting skills at large companies, but after finding that working with small business owners was far more fulfilling than working for large companies, Sarah decided to commit to helping business owners be more well AND wealthy.
Sarah believes there's way more to your finances than your tax return, and helps her clients think about their finances holistically in order to maximise their overall profits, so they can create more peace and stability in their life, build their wealth, and leave a legacy.
She says we’re going to cycle through phases of growth and stability in our businesses, and whatever phase we’re in, there are a few key things we need to do to grow our businesses without losing all of our money. It all comes down to being proactive vs. being reactive by being intentional about how we handle our finances.
Ready to find out more about the numbers side of your business without feeling like you're diving into the deep end?
Tune into the episode to listen to my chat with Sarah about the 3 financial numbers that matter most on your profit & loss sheet, the roles of your bookkeeper, tax expert, & CFO in your business, and her favourite strategies to increase revenue and decrease expenses!