Business Addicts Interview
Loving Profit with Melanie Miller on the Business Addicts Podcast with Loren Bartley and Fiona Redding
Listen Here!
In this episode we explore
- How to create a business that is Profitable + Liveable + Loveable
- The importance of covering off on the “unsexy” fundamental basics of business in order to be able to propel your business forward
- Tips for how you can structure your businesses in a way that ensures that you have a consistent income coming in and are getting paid first
- Tools for keeping track of the key metrics in your business that will drive profit
- The key metrics you should be tracking on a daily basis
- How frequently you should be managing your banking for better control of your finances
- The importance of setting up seperate business accounts for banking and Paypal
- The issue of lumpy cash flow cycles and what you can do to break the poor cash flow cycle
- The importance of analysing your profit and loss statement and forward planning your cashflow at least once a month against your expectations for the month
- Why most people who think they have a cash flow problem actually have a marketing problem rather than a cash flow problem
- Why regular reoccurring income is so important for fuelling your business
- The issues that come with premium pricing as a strategy for increased profits
- The importance of finding a cash flow system that works best for your and your circumstances
- If you aren’t achieving your financial goals for your business, what you need to do to determine why this is the case
Resources discussed in the show
- The Profit Lovers Plan and Track
- Denise Duffield Thomas
- Lucky Bitch Money Tracker App
- The Barefoot Investor
- The Barefoot Investor For Families
- Profit First – Mike Michalowicz
- Xero
- Click Engage Convert
Want to listen to another featured on podcast?
Check out Melanie's interview with Claire Pelletreau on the Get Paid Podcast here
Check out Melanie's very own The Profit Lovers Podcast too!