#031: From Debt to Profit: How Profit First Transforms Retail Stores with Liz Szporn

True transformation in business begins the moment you decide you're no longer just a store owner, you’re a CEO building a legacy, not just a livelihood.

In this powerful, heart-opening episode of The Richer Retailer, Cathy sits down with the brilliant Liz Szporn, a Profit First coach, transformational leader, and lifelong changemaker. From helping build a business from a rental car to guiding others toward values-driven growth, Liz shares what’s possible when passion meets strategy.

It’s about stepping out of the hustle and into your highest role: the visionary who scales smart, pays herself first, human flourishing, personal development and building a life-giving business rooted in community and encouragement.

You didn’t open your store to just get by, it’s time to build a business that serves you, too. And it starts with profit.

What You’ll Learn in This Episode:

• Transformation is a journey that requires self-reflection.
• The transformation economy focuses on creating meaningful experiences.
• It's important to define what you want to increase, decrease, or create in your business.
• The four pillars of transformation are health, purpose, wisdom, and wealth.

Key Takeaways:

• [03:19] Journey of Transformation: From Education to Profit First
• [08:14] The Transformation Economy: Creating Meaningful Experiences
• [10:47] The Four Pillars of Transformation
• [18:11] Defining Your Why and Worth  for Authentic Business Growth

Resources Mentioned:

• Book: Profit First by Mike Michalowicz - If you need help implementing Profit First in your retail store, that’s what we do inside our Profit Club program! Apply for it here.
• Grow My Accounting Practice podcast with Mike McKellips and Ron Saharian
• The Transformation Economy by Joe Pine
• Learn how to scale your retail business with our free training: Beyond Busy: 3 shifts to reclaim your time and boost store income.
• Want help removing obstacles? Apply for your Gameplan Call here. If Profit Club isn’t the right fit right now, the application will guide you to a program that is, so you have nothing to lose by applying—because there’s always a next level, and we’ll help you get there

Your Millie Moment:

• Audit your current business structure. Are you being paid first?
• Reframe your identity: Are you acting as the CEO, CFO, and CIO your business needs?
• Create a transformation economy experience in your store. How does every touchpoint build your customer’s confidence?

Connect with ambitious store owners in the Richer Retailer Facebook Group.

Share this episode with a fellow store owner and help them tackle cash flow challenges!

You're not just a store owner. You are a leader, an innovator, a transformer of lives, starting with your own. And the RETAILMavens community is here to help you rise.