As the CEO of your business, you are probably so immersed in the day-to-day operations, client delivery, and sales that you don’t have time to pay close attention to your finances. This time of year, we have all our business goals set, but we often don’t take the time to create a Profit Strategy for our businesses.
As a virtual CFO, I work with my clients to create a tangible Profit Strategy so they can hit the profit goals that will support the business - and life - of their dreams. In this episode, I’m sharing the exact method I use with my clients so you can build your own Profit Strategy for 2022.
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Some key takeaways on building a strong profit strategy for your business in 2022 are:
A Profit Strategy is your plan to make money and build wealth in your business. It defines where your money is going to come from, how to maximize the cash flow in your business, and how you’ll invest your time or resources into exponentially increasing the time and money you’ll get back in your business and life.
A CFO is going to be constantly evaluating what’s working in a business, what’s not working, best and worst case scenarios, where cash flow will come from, where cash gets spent, what kind of investment returns they’re going to get, and more. Start thinking about these things in your own business (with the help of this episode!).
To build a strong profit strategy, you need to: get clear on your vision, know your numbers, evaluate what’s happening in your business, optimize cash flow, stabilize your business, then grow your business and build wealth. This episode covers all the steps!
Download our free Year-End Financial Review Workbook to help you get clear on your financials and identify your 2022 money moves! Get the workbook here.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!