Did you know that only about 33% of small businesses hit six figures in revenue? And far fewer ever hit those numbers in profit. But that doesn’t mean you have to follow the same path.
Today, I’m sharing with you my own journey to six figures in profit, and trust me, it wasn’t a straight line. I made plenty of mistakes along the way. But that’s why I’m so passionate about helping you avoid them and build a business that is both profitable and sustainable.
We’ll cover everything from choosing the right products and services to mastering your pricing strategy. And most importantly, we’ll talk about how to avoid common pitfalls that keep entrepreneurs stuck in the “hustle and grind” cycle.
Timestamps:
00:00 Welcome to Q&A Wednesday
00:17 Profit is More Important Than Revenue
01:31 Why Six-Figure Profit Matters
03:46 Step 1: Focus on High Margin Products
05:47 Step 2: Leverage Scalable Products
07:23 Step 3: Charge More for Your Products
08:23 Maximize Profit Through Value Addition
09:47 Focus on Core Business Areas
12:13 Set Clear Goals and Tracking Progress
14:17 Key Takeaways for Profitability