As a business owner, you obviously want to make a profit or you might as well work a 9-5 with much less risk. When you do have profit, what do you do with it? How do you avoid sending excess money to Uncle Sam and, instead, reinvesting it into your business? I'm going to give you our perspective and 5 steps you can use to maximize the profit in your business.
Time Stamps:
(0:12) Talking Profit
(2:30) How to Understand Profit
(4:00) Health Summit Fundraiser
(5:48) All Businesses Aren’t Created Equal
(7:24) Avoiding the Tax Man
(10:49) What Should Your Profit Margin Look Like?
(13:29) Labor %
(17:45) Remembering Our Core Values
(19:30) There’s Always a Cost
(20:34) The Dumb Tax
(21:48) Attention is Today’s Oil
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The Fitness Business Podcast with Erin Dimond and Jordan Dugger