Optimize your future launches by getting intentional about your profit margins.
Buckle up, my friend, because today we're diving into all things numbers and how to increase your profit margins! I know, I know, it's definitely a bit daunting when you’re first getting started, but it’s one of the most important things you can do!
With a bit of practice and dedication, you'll be on track to use your profit margins to better understand and scale your business. After all, it's your profit margin that allows you to pay yourself more, reward your team, and invest back into your business.
In this episode, I share the four key things my team focuses on to maintain our profit margin (if we're happy with it) or increase it. I want you to steal these techniques and tools for yourself so you can make the most intentional decisions and plan for future launches!
Today, I cover:
- 2:48: What exactly your profit margin is and how to choose your benchmark
- 8:49: Tips for budgeting and planning for future launches to maintain a healthy profit margin
- 14:25: Advice for making intentional expense decisions that align with your business goals
- 16:05: Why you need to be reviewing your recurring expenses
- 20:14: The importance of being transparent with your team about numbers
Listen in and remember, if your profit margins aren't where you want them to be, it's absolutely okay! We're all constantly learning and growing, and you're already on the path to bettering yourself and your business.
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