Clare Wood is a money mentor, author and qualified CPA who is passionate about teaching business owners all about profit and the concepts of money magic. In this episode, Clare and I chat about the importance of profit—not just sales—in your business and her 6 Profit Pillars.
In today's episode, we chat about:
– Why top-line sales aren't a reliable indicator of your business performance
– Identifying inefficiencies in your business and when it's okay to take a profit hit to grow
– Why it's important to separate your personal finances from your business finances
– Identifying common expenses that can lead to an unprofitable business
– The importance of factoring in tax payments into your cashflow budget
– Deep diving into Clare's six Intentional Profit Pillars
You can find Clare at https://clarewood.com and follow the links to tune into her podcast and grab a copy of her book, Intentional Profit.
Episodes referred to in this episode:
– https://listen.stephtaylor.co/467 – Denise Duffield-Thomas on money mindset, launching and scaling to a multi-million dollar biz by doubling down on one product