Are you a business owner, entrepreneur, have a side hustle or even entertained the idea or starting a business? Do you struggle with the finances? Don’t worry we won’t tell! We are here to give you some insight that may help you take the next step no matter where you are.
Did you know 40% of privately owned businesses are owner by women? That is phenomenal progress. However, of those businesses they only hold 4% of the overall revenue. How do we now scale the revenue and profits for these female owned businesses? Financial education and empowerment is HUGE!
This week on the podcast we are joined by Jamie Trull who is a Financial Literacy Coach & Profit strategist and a registered CPA. Jamie spent the early part of her career working in corporate finance assisting billion dollar companies through major mergers. She joins us to go through key themes that you should consider as you build and scale your business unapologetically!
Here is a sneak peek at my take-a-ways from our conversation:
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Build a solid foundation understanding your mission & value of the business.
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Understand your services and the PROFIT they produce vs. revenue aka after the expenses.
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What is the time that you have invested into your business to create the product and/or conduct the services you offer.
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PROFIT is KEY! Saving taxes is not where you should lead with your business rather it should be a strategy after you define what profit you need to operate the business and your personal lifestyle.
Opportunities to pursue multiple sources of income have proven to be important for business owner and arguably all of us after so many Americans experience loss of income and jobs in 2020. If you are a business owner, no matter the size, how are you diversifying your revenue streams? When you have multiple sources you have a greater likelihood to overcome the valleys that happen in any business, because there will not always be the highs – despite all of the messages telling you here’s the fastest ways to 6 six figures.
I loved how Jamie approached the topic of profit and the myths that are out there that there is a magic formula. I have talked about this before and it’s incredibly critical for business owners to remember that building a foundation isn’t the glitz and glam (as many of you already know) so be careful to fall for all of those messages and rather tune into Jamie’s great insight.
FIND OUT MORE ABOUT JAMIE
Website: https://jamietrull.com/
Free Facebook Group: http://jamietrull.com/group
Instagram: https://www.instagram.com/jamie.trull/
Facebook: https://www.facebook.com/BalanceCFO
Securities offered through LPL Financial, a member of FINRA/SIPC. Advisory services offered through Advisors’ Pride, a SEC registered investment advisor. LPL Financial, Advisors’ Pride, Forethought Planning and the guests of Thrive For[e]ward podcast are separate and unaffiliated parties. Any of the parties listed above are not affiliated with Forethought Planning, Advisor’s Pride, or LPL Financial. The views expressed here are those of the participants, and not those of Forethought Planning, Advisor’s Pride, or LPL financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. LPL Financial and Forethought Planning do not offer legal services.
