My name is Austin Brawner, and my purpose is to help eCommerce entrepreneurs build wealth and live more fulfilled lives. You can expect weekly interviews with world-class eCommerce operators, deep dives into what's working right now, and a refreshing break from the "crush-it culture" plaguing our industry. This podcast will change your perspective on building a business, and, hopefully, change your life.
http://www.ecommerceInfluence.com
252: Part 1, Profit Series, A Road Map To A More Profitable And Fulfilling Company
Do you know what you should be focusing on to make your business more profitable?
We’ve had conversations with many clients during these challenging times. While some businesses are booming, others are taking a hit in sales. But the one thing that seems to be on everyone’s mind is profitability.
In this episode, we set the framework for our entire Profit Series. Whether or not your business is thriving during this time, we share the five-step process of creating the roadmap you can use for profitable growth.
Episode Highlights:
- 4:52 The decision you have to make about the metrics you keep in focus
- 6:19 How do you define profit?
- 9:12 What it means to set a profitability goal and how it differs in different industries
- 14:53 How to set a capitalization goal
- 17:55 What is a salary cap?
- 21:25 How to manage salary caps
- 25:03 The three levers to drive profitable growth
Links and Resources:
- Book: Profit First by Mike Michalowicz
- Boredwalk Tshirts
- @a_brawn on Twitter
- @andrewfoxwell on Twitter
- Brand Growth Experts
- Foxwell Digital
- Review or subscribe on iTunes