Profit by Design 22: Stop the Profit Bleed with Vicki Suiter
Do you know if you have a profitable business? You may think you do, and only find out at the end of the year that you’re barely breaking even. Today’s guest emphasizes that we need to build profit into our budgeting and we need to go beyond breaking even.
Vicki Suiter is the author of the new book, The Profit Bleed. As an author, business consultant and coach Vicki has been proving for 25 years that good market or bad, raging competition or not, any contractor or designer can run a healthy profitable business. She has been helping hundreds of businesses achieve that kind of success, by helping people to SEE things differently than giving them the tools they need to DO things differently. Vicki enables her clients to get a grip on their business vision from day one; then she shows them how to make that vision a reality. Join us as we build on the topic of Breaking Even to Thrive.
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Show Highlights
- Vicki’s background and how she came to writing The Profit Bleed
- Intimidation with numbers
- Numbers we should be paying attention to in our businesses
- What Vicki recommends for contractors to not feel ashamed to ask for help
- Labor prices and how they are changing and what that means for the future
- How confidence in your numbers translates into higher value for your client
- Product management, controls that can be put in place, things to track, and meetings to have to run profitable projects
- The 2 Week Look Ahead and cost to complete are critical things to help you stay in front of where a project is headed.
- Tips to get your team on board
- Tips from Mike
Social Media Quotes:
Sabrina
- “The more complex your business is the harder it is to make it automated, sustainable and profitable”
- “It starts with getting a handle on your numbers”
Vicki
- “I just found that I loved the complexity of construction, and the people in it. I really love working with contractors”
- “I love turning on the lights for people, and having them be able to see how they can turn that really hard work into more profits and having more time and having more fun in their life”
- “Part of what I try and help them do is to be able to see what are the most critical elements that they need to pay attention to”
- “When we eliminate the uncertainty and the confusion we are so much more capable and confident about what we can do”
- “If I can see it I can do something about it”
Resources
Check out the conversation between Mike and Sabrina that 95% of entrepreneurs never have at the Profit by design website.
Profit by design Podcast Website
Profit by design Facebook group
Email: sabrinandmike@profitbydesignpodast.com
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The Profit Bleed by Vicki Suiter for Free! Click Here
Vicki Suiter’s Website
Sponsors:
Tap the Potential Leadership Bootcamp Program
Contractor Business Solutions - Small Business Consulting Group Website
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