Entrepreneurs, Here's How to Create Highly Profitable Offers
Sarah Young, CPA
Advisor for entrepreneurs who are building wealth ? Business, money, and mindset strategies to grow profits and financial freedom ? Founder of Young and Co ? Profit and Prosper Podcast
Welcome to the latest edition of the Profit + Prosper LinkedIn Newsletter for Entrepreneurs! Make sure to subscribe to the newsletter and follow Sarah for even more updates and insights on finance and business.
Let's talk about a topic that's hopefully at the top of your mind - profitability.
I don't know about you, but since we're going into March (and the trees are blooming in Charlotte, I see you spring!), I feel like I'm settling into 2023. One of my Q1 goals was to do nothing new in my business, and instead just keep doing what works and keep improving all our processes.
And that's got me thinking about what my core content pillars are. Lately, a lot of my content has focused on wealth creation - because it's really important to me that business owners learn how to build wealth. But I've been feeling a pull to go back to basics a bit.
Enter: My new Profit Series on the Profit + Prosper podcast! Starting with Episode 50, I'll be doing a deep dive into the 4 key elements of a profitable business.
These key elements align with the four stages of business that I see most business owners go through - stabilization, protection, growth, and wealth creation.
The four stages don't necessarily align with the length of time you've been in business - I view them as cyclical. I've seen plenty of multi-seven figure businesses who need to revisit the stability stage ??
In the first stage of business, your focus needs to be on consistent cash flow.
Instead of constantly shifting between feast and famine mode, we need to figure out how to keep things steady. Get off the hamster wheel, and on a path to predictable profits.
How do you do that? Profitable Offers.
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In Episode 50 of the Profit + Prosper podcast, I'm talking about why creating a business that is more profitable starts with offers that are streamlined and efficient to deliver. In this episode, I’m sharing everything you need to know about crafting highly profitable offers that you’re actually excited to deliver while adding more cash flow to your bottom line. I’ve seen the strategies I’m sharing in this episode bring mid-six-figure clients to the seven-figure level, and I know they’ll be just as transformational for your business. Be sure to subscribe to my podcast to follow along with this profitability series!
Here’s what we’ll cover:
- The four elements of a profitable business
- What is a profitable offer?
- Figuring out the cost of your offers
- Revenue vs. gross profit vs. net profit
- How to make your offers more profitable
- Creating Different Tiers of Offers
- Creating Offers for Repeat Customers
?? Click here to listen to the full episode - #50: Creating Highly Profitable Offers | Profit Series Pt. 1???
Let me know in the comments - what’s the biggest roadblock you’ve encountered when it comes to creating profitable offers?
Do you want even more insights on building your first $1M in net worth from your business? Sign up for my free email newsletter, Millionaire Mondays, where I share tactics and strategies for increasing your cash flow, making smart investments, and saving on taxes as you build your wealth.
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Connect with Sarah:
- Catch all the video versions of the podcast on YouTube
- Get in touch with Sarah to add a CFO to your team