Why Profits, not Revenue, are critical to a Company’s Survival

Knack 4 Business

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Welcome to the Knack 4 Business podcast.
Today's guest is David Visco from Your Business Made Easy
David discusses the importance of focusing on profits rather than revenue for small service-based business owners. He introduces his P R O F I T S Framework, a strategic approach to identifying hidden profits, optimizing operations, and preparing businesses for successful scaling or exit. Included: insights on overcoming common small business challenges, the significance of having a clear purpose and vision, the pitfalls of focusing solely on revenue, and strategies for business growth. Additionally, the importance of understanding financials, strategic versus operational planning, and the role of exit strategies in business planning are discussed.
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Website: https://yourbusinessmadeeasy.com
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Acknowledging their support, I would like to express my thanks to Carl Richards from Podcast Solutions Made Simple, a renowned podcast expert, Fred Crouch who is the Property Wizard podcaster, Melanie Webber my invaluable business partner, and Wayne Pratt from Motive8U Inc, who serves as both a coach and co-host of these podcasts.

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Disclaimer: Please note that the Knack 4 Business podcast episodes are meant solely for educational and general informational purposes. The information and opinions contained within are not intended to be professional advice on any subject matter. The thoughts, views, and opinions expressed by the participants are their own beliefs and do not represent the views of the podcast hosts or any affiliated organizations.

It is important to note that this podcast is not a replacement for consulting with certified experts in your area who possess knowledge of your unique situation. The hosts of the podcast, along with any participants or affiliated groups, do not take responsibility for any actions taken or not taken based on the information presented in this episode.

It is highly recommended that individuals seek guidance from their advisors in fields such as accounting, law, or other pertinent areas prior to undertaking any actions or making decisions that may impact their financial, legal, or other aspects of life.