042 - The Profit Problem: They Say I Make Money, So Why Don't I Have Any? with Martin Holland

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

• Price Increase Calculator
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• Break Even Calculator
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More from Martin Holland

• theprofitproblem.com
• annealbc.com
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More from Chris

• CrewXP
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More from Khalil

• benali.com
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