From streamlining processes to scaling your company, welcome to the spot where you get bite-sized financial information for entrepreneurs to help you succeed in your business!
With over ten years of experience owning her own accounting and bookkeeping firm and working with hundreds of entrepreneurs, she’s here to break down these questions in easy-to-understand language and actionable items.
Tune in every Thursday for five to ten minutes of invaluable information.
If you have questions about businesses or bookkeeping, head to firststepsfinancial.com and hit the “Let’s Talk” button to continue the conversation.
The Pareto Principle, commonly known as the 80/20 rule, basically implies 80% of results come from 20% of causes. When applied to business, this principle analyzes client and sales data to understand where business owners should invest their time, money, and energy.
In this episode, I delve into the 80/20 rule and how it allows business owners to better define which clients, services, and employees provide the best return on investment.
In this episode, you’ll also hear:
Identifying high profit customers and services
Analyzing employee and task productivity
Knowing where your sales come from
Must-listen moments:
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14 Mar 2024
Are Your Prices Making a Profit? Pricing Strategies
For any business to be profitable, services must be priced appropriately. Business owners need to regularly set profit margin goals and adjust pricing accordingly.
In this episode, I break down cost-based and value-based pricing, and tips for competitive prices that keep clients happy and revenue goals on target.
In this episode, you’ll also hear:
Covering costs and profit margin
Advantages of value-based pricing
When to change your pricing strategy
Must-listen moments:
[00:00:38] We think if we do more sales, we'll be profitable. But if you haven't priced your services correctly,
7 Mar 2024
Strategic Cost Cutting Measures
Just like we visit the doctor and dentist for regular check-ups, business owners must routinely review expenses and decide when cuts are necessary. Monitoring the financial health of your business is key to its long-term success.
In this episode, I outline effective ways to decrease expenses, increase efficiency, and preserve customer satisfaction without compromising the value of your goods and services.
In this episode, you’ll also hear:
Eliminating unnecessary expenses and streamlining productivity
Suggestions for taking your company lean
Cutting costs while maintaining quality
Must-listen moments: <span data-ccp-props="{"201341983":0,"335559739":160,&
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Apple Podcasts (US)
5.0 / 5
4 ratings
Spotify
5.0 / 5
4 ratings
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