Ever feel like your business earns well but your pockets disagree? Join us for an eye-opening conversation with Martin Holland and learn practical tips on boosting your margins and understanding the true purpose of business.
Time Stamps
- 01:05 - Episode Intro
- 01:47 - The Profit Problem: Analyzing Business Earnings
- 06:18 - Understanding the Purpose of Business
- 11:02 - Strategies for Increasing Profit Margins
- 15:06 - Increasing Your Price
- 19:18 - Reducing Cost & Doing More Work with the Same Resources
- 24:50 - Pay for Performance
- 29:13 - Understanding Profit & Cashflow
- 30:02 - Four Reasons for Profit Without Cash
- 31:47 - Managing Receivables and Debt
- 32:27 - Inventory Management and Turnover
- 35:06 - Discounting Strategies and Customer Impact
- 41:01 - Importance of Accurate Bookkeeping
- 42:08 - Preparing for Business Sale
- 44:26 - Consistent Accounting Practices
- 48:00 - Break-Even Analysis
- 55:47 - Episode Takeways
Snippets from the Episode
- "If you do not get your books right, it will kill your business. Not maybe, not might, it will kill your business." - Martin Holland
- "The only thing that will prevent bad books from killing your business is if something else gets it first, like a disaster or theft or fire." - Martin Holland
- "I realized, I don't think it's margin I'm really after. It's earnings." -Chris Griffin
Resources
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