BEWARE Growing Broke - Why Less is More
Episode description
"We grew the business into new areas and we were heavily focussed on revenue, however there was no structure in our costs, we weren't focusing on our gross profit margins. We were driving the business with no control. It was like being on wheel of fortune, spinning the wheel and hoping for the best." Craig Markham - Fit Services
Craig and his partners grew Fit Services rapidly. Expanding into new geographical regions, with new partners, with new clients, and reaching $9 million dollars revenue. All with no financial knowledge. The reality check came when we correctly reported the financials, highlighting the fact the business was actually losing money and owing the ATO.
Craig's story is a common one. The classic 'Growing Broke'. Sales, revenue, clients going north, while at the same time profit and cash go south. Full credit to Craig's persistence, belief, and awareness in making the tough calls to turn the business around. Keys were 'focusing on the numbers' and 'less is more'.
If you are unsure how to transform your business and power up to the next level then you’ll find the answers in this interview, including:
- Why growing your business can end up killing your business?
- How reducing revenue can increase your profit?
- How implementing weekly success habits can set you free?
- Why having external support from the right experts and coaches is critical to success?
- Why business owners & leaders MUST continually strive for personal improvement?
- And plenty more …
Resources mentioned:
- Power Up Your Tradie Business book by Matthew Jones - GRAB YOUR FREE COPY (enter promo code - podcast)
- Power Up Coaching Program - Email to see if we can help REQUEST A CALL
Podcast links:
Podcast Studio: RadioHub
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