Shownotes can be found at https://www.profitwithlaw.com/372.
Leaving your corporate job and starting your own business might seem like a big challenge. In truth, it's also a huge opportunity. However, starting a business takes time to create wealth. It's a journey filled with setbacks and failures you inevitably must face and overcome. The key is to take risks with a plan and strategy in mind. Your business' profitability margin will only grow if you put something into it.
In this episode, Sam Varner, founder of SHE Collective Biz, joins us to discuss the common mistakes new business owners make that hurt their long-term profitability margin. She sheds light on many starting entrepreneurs' misconceptions and shares some tips for resolving them. Sam also introduces the CRUSH formula to building a profitable business.
If you’re an aspiring business owner looking to really move the needle on your profitability margin, this episode is for you.
00:00 Introduction
2:55 How Sam Became a Profit Coach
8:06 On Revenue Numbers
10:10 The Main Challenge Surrounding the Profitability Margin
11:53 Why Do Business Owners Overspend
16:35 Business ≠ Getting Rich Quick
20:56 The Reluctance to Bring in Help
30:11 Taking the Next Step When You Don’t Feel Ready
37:59 CRUSH Formula
42:54 Sam’s Parting Piece of Advice
Resources mentioned:
Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.
Learn more about the Profit with Law Elite Coaching Program here.
Connect with Sam Varner: Website
She Needs Grit Podcast: Audible | Apple | Spotify
Profit First by Mike Michalowicz
The E-Myth Revisited by Michael Gerber
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