Profit Gives You Choices with Jason Withers

Oct 23

This was one of my favorite episodes to date because Jason held NOTHING back. What an incredibly valuable conversation about ALL THINGS MONEY. I truly hope you learned a TON from listening to Jason walk us through his key tips on managing your business money so you actually get to keep more of what you earn.The biggest takeaway for ME was this (shameless) idea that at the crux of every businesses’ purpose is PROFIT.

As Jason said “PROFIT GIVES US CHOICES.”

With a higher profit margin, you get to expand your offerings, give back to society, donate money to good causes, and even create a bonus structure for yourself and/or your employees (if that’s where you are in business).My favorite thing is that Jason doesn’t give us a complicated structure. He keeps things simple and boils down profit strategy into three key areas.The three areas Jason recommends EVERY business owner focus on?

SALES
MARGINS
OVERHEAD

BOOM. I’d recommend taking stock of where you fall in all three areas, even if you consider yourself a “freelancer” and not an “entrepreneur” and see what you discover.We also talked about how the online arena opens up more opportunities for profit for freelancers and creatives, and how it’s imperative to decide what YOU want and are committed to.Are you committed to being a business, or are you committed to being a hired hand?There is no wrong answer, but get clear on which you are/what you’re created and behave accordingly!And my FAVORITE reminder?

Revenue and sales is not everything.

So the next time you see someone claiming 7 or 8-figures, don’t worry that you’re not doing “well” enough. There’s a good chance you have a higher profit margin than the entrepreneur who’s made 7 figures in revenue over the last year!Remember, if you have a product that loses money, selling more will only make you less money. Selling more doesn’t necessarily mean more profit. Commercially, it’s about the profit, it’s not about the revenue. Remember Jason’s sage advice: