Weekly show where my featured guests and I explore the financial and business challenges women face on the entrepreneurial journey to success. You'll hear them talk about the money side of their businesses in ways you've always wanted to know about, but wouldn't dare ask. They openly share their disappointments, failures, successes, and everything in-between as they grew sales ranging from 6 to 9 figures. Knowing where your business stands financially helps you make critical decisions with confidence. It's simply the best way to be sure you grow a business that fuels the life you want to live.
https://www.christinasjahli.com/
episode 40: How to Optimize Profit in a Service-Based Business - The Journey of Prerna and Mayank Malik (Financial Thanksgiving)
Prerna and Mayank Malik are the founders of Content Bistro, a conversion copywriting agency. They are the creators of Profits on Tap ® – the premium program for service providers who want an #easybakescale approach for their businesses. They live in India with their daughter, Manini, and when they aren’t working on launches with clients or on profit optimization with service-based businesses, they’re traveling the world and eating all the food!
In this episode, Prerna and Mayank shared:
➤ Behind the scene thought process to pivot from Social Media Direct to Content Bistro (6:37)
➤ How their core value of sustainable scaling translate into their services and investments (14:40)
➤ The process to arrive at an internal hourly rate (16:00)
➤ The financial planning process to transition to Content Bistro (22:59)
➤ Why they waited 8 years to launch Profits On Tap program (26:54)
➤ How they managed the launching process and investments for Profits on Tap program (31:30)
➤ The financial process they put in place to build a two-years AND 90 days worth of emergency fund to protect their business and life (35:59)
➤ Their thought process in managing expenses at 15% to 18% of revenue (41:39)
➤ How to avoid shiny object syndrome (44:20)
➤ The C.A.S.H Blueprint to manage expenses and fuel growth in their business (54:00)
➤ The right intention, discipline, and habit are the keys to their financial success (57:10)
➤ Streamlining process within their business using financial data (1:04:33)
➤ The benefit of regular review of their marketing metrics (1:14:35)
➤ Don’t be a doormat to your client (1:25:20)
Connect with Prerna and Mayank:
➤ Website
➤ Free resource: R.E.M Framework
➤ Sign-up for Profits on Tap Program
➤ Free Facebook group: The Biz Bistro