So often as business owners we fall into the trap of growing our business, focussed on the turnover and external signs of success, and forget the biggie: Profit.

 

This was certainly true for today’s guest Jennifer McKinley whose company Cor Silver Skincare was being picked up by international markets, considered a huge success and at the same time, causing Jennifer regular financial stress. Everyone was getting paid except her. 

 

Even though Jennifer loved numbers and accounting (She was a professor's assistant in accounting at Yale when I was getting my MBA there), she still made many of the same entrepreneurial mistakes in terms of managing the cash flow of the business. She was chasing revenue instead of profitability. Now she lives by the quote: “At the end of the day revenue is vanity; profitability is sanity”

 

With the same tenacity Jennifer had applied to building her business, she learned about Profit First, a system created by Mike Michalowicz for business owners needing to get the profit back into their business.

 

The results were seriously good, and Jennifer decided she’d like to share her knowledge with other small business owners struggling to grow a business while remaining profitable. She is New Zealand’s only Certified Profit First Professional, and helps her clients apply the Profit First model to their business.

 

We’re also avid Profit First users, and recommend it to our clients. Like us, they’ve seen dramatic changes in their businesses, from solopreneurs to businesses with teams of 50+ staff.  If you know you need to make more profit in the next twelve months, and want to get a handle on it, this podcast episode is for you. 



Today we cover
.Why Jennifer became a Profit First Professional
What the impact on her own business was
What focussing on profit can do for the whole business
Why this system can help you prepare for big purchases
Why you need a “Government’s Money account
Why a long holiday can be a sign of health
What other accounts you need, depending on your type of business
How to apply this process to your own business

 

Important Links

Jennifer’s Website

Jennifer on Linkedin

Jennifer on Facebook

 

Other recommended Episodes

Your budget is not their budget with Natalie Coombe

So often as business owners we fall into the trap of growing our business, focussed on the turnover and external signs of success, and forget the biggie: Profit.
&nbsp;
This was certainly true for today&rsquo;s guest Jennifer McKinley whose company Cor Silver Skincare was being picked up by international markets, considered a huge success and at the same time, causing Jennifer regular financial stress. Everyone was getting paid except her.&nbsp;
&nbsp;
Even though Jennifer loved numbers and accounting (She was a professor's assistant in accounting at Yale when I was getting my MBA there), she still made many of the same entrepreneurial mistakes in terms of managing the cash flow of the business. She was chasing revenue instead of profitability. Now she lives by the quote: &ldquo;At the end of the day revenue is vanity; profitability is sanity&rdquo;
&nbsp;
With the same tenacity Jennifer had applied to building her business, she learned about Profit First, a system created by Mike Michalowicz for business owners needing to get the profit back into their business.
&nbsp;
The results were seriously good, and Jennifer decided she&rsquo;d like to share her knowledge with other small business owners struggling to grow a business while remaining profitable. She is New Zealand&rsquo;s only Certified Profit First Professional, and helps her clients apply the Profit First model to their business.
&nbsp;
We&rsquo;re also avid Profit First users, and recommend it to our clients. Like us, they&rsquo;ve seen dramatic changes in their businesses, from solopreneurs to businesses with teams of 50+ staff.&nbsp; If you know you need to make more profit in the next twelve months, and want to get a handle on it, this podcast episode is for you.&nbsp; 
Today we cover
<ul>
<li aria-level="1">.Why Jennifer became a Profit First Professional</li>
<li aria-level="1">What the impact on her own business was</li>
<li aria-level="1">What focussing on profit can do for the whole business</li>
<li aria-level="1">Why this system can help you prepare for big purchases</li>
<li aria-level="1">Why you need a &ldquo;Government&rsquo;s Money account</li>
<li aria-level="1">Why a long holiday can be a sign of health</li>
<li aria-level="1">What other accounts you need, depending on your type of business</li>
<li aria-level="1">How to apply this process to your own business</li>
</ul>
&nbsp;
Important Links
<a href="https://www.thebeautyofprofitfirst.com/">Jennifer&rsquo;s Website</a>
<a href="http://www.linkedin.com/in/jmmckinley">Jennifer on Linkedin</a>
<a href="http://www.facebook.com/thebeautyofprofitfirst">Jennifer on Facebook</a>
&nbsp;
Other recommended Episodes
<a href="https://omny.fm/shows/map-it-marketing/your-budget-is-not-thier-budget-money-mindset-and">Your budget is not their budget with Natalie Coombe</a>

Trying to work out how all your marketing fits together is tricky, especially when you're trying to juggle everything else you need to do while running a small business.  MAP IT Marketing steps you through how to create your own marketing map, building out a marketing strategy that is practical, and will help you take action after every episode.

Listen and learn with your host, marketing strategist and coach Rachel Klaver, as she breaks down the steps of building out a marketing action plan specifically for the small business owner. (because we are different than a big company! We have smaller budgets, less resource and far less time!)

Join Rachel as she shares her own business lessons and learning, or enjoy her expert guests talking tactics to help you become more confident in your own marketing. As we walk through all the different steps you need to take to build out your marketing activity, you'll be able to note what you need to do to implement the marketing advice and tactics. Think of it as your own marketing coach, helping you sift through all the small business marketing information, and working out what you need to do next.  

Want a clear direction in your marketing? Let's come make a map. 

Trying to work out how all your marketing fits together is tricky, especially when you're trying to juggle everything else you need to do while running a small business. &nbsp;MAP IT Marketing steps you through how to create your own marketing map, building out a marketing strategy that is practical, and will help you take action after every episode.
Listen and learn with your host, marketing strategist and coach Rachel Klaver, as she breaks down the steps of building out a marketing action plan specifically for the small business owner. (because we are different than a big company! We have smaller budgets, less resource and far less time!)
Join Rachel as she shares her own business lessons and learning, or enjoy her expert guests talking tactics to help you become more confident in your own marketing. As we walk through all the different steps you need to take to build out your marketing activity, you'll be able to note what you need to do to implement the marketing advice and tactics. Think of it as your own marketing coach, helping you sift through all the small business marketing information, and working out what you need to do next. &nbsp;
Want a clear direction in your marketing? Let's come make a map.&nbsp;

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