Turning Profit into Freedom

Text Pete

In this final episode of the 5 P Framework series, Pete Mohr explores the importance of profit and how it ties everything together. After aligning your promise, products, processes, and people, profit is the reward that enables you to revisit your "what ifs"—those dreams and aspirations that motivated you to start your business. Pete shares insights on how profit allows you to regain your time, reduce stress, and focus on what truly matters in life and business.

Key Takeaways:

1. The Power of Profit: Profit is more than just financial gain; it’s the key to unlocking your freedom as a business owner. Pete explains how achieving profitability allows you to start thinking beyond daily operations and toward your personal and professional dreams.
2. Revisiting Your "What Ifs": Pete encourages listeners to reconnect with the original "what ifs" that inspired them to start their businesses. Whether it's more leisure time, better relationships, or personal growth, profit makes these dreams possible.
3. The One-Page Planner: Pete introduces his one-page planner, a tool he uses daily to align his life goals with his business. He offers it as a free resource to help listeners prioritize their health, wealth, relationships, and other important areas.
4. Turning Worries Into Wins: Profit helps shift your mindset from worrying about daily operations to focusing on how to expand and enjoy life. Pete emphasizes that this shift enables business owners to make better decisions, delegate effectively, and ultimately, live a more fulfilling life.
5. The Role of Entrepreneurs in the Community: Pete discusses how profitable businesses often lead to more significant contributions to the community. Entrepreneurs, as the backbone of their communities, are often the ones who fund local initiatives, and profit allows them to give back more effectively.

Action Item: This week, Pete urges listeners to revisit each episode of the 5 P series and take actionable steps if they haven’t already. Reflect on the progress you’ve made and iden

Are you looking to make some changes in your business and your life in 2024?  Head over to speaktopete.com and book a chat with me to see if we're the right fit!

Maximize Your Business’s Value with the Value Builder Assessment!

As a business owner, do you know what your company is truly worth? The Value Builder Assessment is a powerful tool that helps you uncover the key factors influencing your business’s value. Whether you're considering a sale, planning for the future, or simply want to grow, this assessment offers actionable insights to increase your business’s worth and appeal to potential buyers.

Don’t leave your business’s future to chance. Click here to take the Value Builder Assessment and start building a more valuable, resilient business today!

Book a no charge Freedom Call with Pete, to see if you’re a good fit for his business coaching or talk to Pete about speaking at your next event head over to http://speaktopete.com to find a time that works for you!

Pete's Websites:

Pete-Mohr.com
The Exit Ready Business
Kolbe Coach
Simplifying Entrepreneurship

LinkedIn at https://www.linkedin.com/in/petemohr/
Instagram at
the five P's. Understanding yourpromise, aligning your product
process and people to it willgenerate the most amount of

(00:24):
profit. And that's when thefreedom comes freedom from the
day to day management andfreedom to start doing the
things that you want and deserveto do, inside and outside of
your business. No one ever saidit was easy, but it's time to
start the process on thebusiness owner breakthrough. If

(00:45):
you'd like to chat with me abouthelping you break through in
your business, simply go tospeak to pete.com that speak to
pete.com, to book anappointment, and to see if we're
a right fit. Today's episode isall around the fifth P profit.
So once you've aligned yourpromise, with your products,

(01:06):
your process and your people,you start earning a little bit
more profit. And most of myclients that I work with, are
kind of at that stage wherethey've been at it for a while.
And they're working through thissort of stuff. And they're
starting to see some profit. Andthat's really nice. But what
happens when you start to seesome profit is you start to
revisit your what ifs. And whatI mean by that is you got into

(01:29):
business however long ago it wasbecause you had some what ifs.
And that idea really revolvesaround, you know, if I'm a
business owner, how would mylife be different than if I was
working for somebody else. And alot of time, it has to do with,
you know, your health, yourwealth, your relationships, your
mission and purpose of your lifeand your growth, and your

(01:53):
leisure time. And all of thosethings are part of my one page
planner. And if you would like acopy of the one page planner,
just go to simplifyingentrepreneurship.com forward
slash planner, and you'll get acopy of the planner that I use
every day and a little videotelling you how to use it. But
really understanding what it isyou want out of your business.

(02:14):
Remember, you got into business,because you wanted a better
life. And you thought that byowning your own business, you'd
have a better life just like ourpromise, right? The promise is,
there's a problem. There's aprocess, and then there's a
better life. Well, you got intobusiness, the problem was you
thought you know, you could havea better life. If you got into
business, the process is thebusiness that you're doing. And

(02:36):
the better life is these whatifs. And when you think about
it, you know, what do you wantout of your wealth? What do you
want out of your relationships?
Have you been spending50 6070 100 hours a week at
work? Is it time to make somechanges around that until you
get to a profitability place?
It's very hard to hire anybodyto take on some of the

(02:57):
accountabilities because wecan't assign accountability
until we've set up the processand all of these other things,
and we have the money to assignaccountability, right. So we
start thinking about thesethings and like, Am I what I'm
doing at work actually providingmore value to the mission of my
life, then what I could bedoing, if I had somebody else

(03:20):
doing certain things, I talked alittle bit in the last episode
around this idea of love orleave it which is an exercise
that I have most of my clientsgo through. And understanding
what you truly love to do andwhat you're really good at,
versus what you think you shouldbe doing every day is an
interesting concept too. Andwhen we can start panning off
some of the things that we don'ttruly love and are good at, we

(03:42):
find that, you know, we're mireddown by this. And it's taking
away some of all of the othergood things that can be brought
in our lives as business owners.
So that's what Prophet can dofor you, it can give you your
time back. And that's one of thebiggest things, most of the
clients that I work with want,they want their time back to do

(04:04):
whatever it is, it may be totake their kids to Little League
it may be to take a vacation, itmay be to go see their parents,
it may be headed to theGalapagos Islands and really
take in nature at its veryheart. You know, all of these
different things are uniquelyyours. But until you get to a
profitable standpoint, in yourbusiness, it's very hard to

(04:24):
dream about these things.
Because really, we go to bedworrying at night about how
we're going to take care of thenext day as opposed to dreaming
about the what ifs. So what Iwant for you and your business
is to help you get through thoseworries and think about the
wants that you want. And I liketo use this phrase you know,
help you turn your worries andwants into wins. And there are

(04:47):
frameworks there are systems orour processes that enable this
and it all starts with beginningto work on your business through
these fiveIP. So I encourage you to go
back and re listen to each oneof these episodes and give them
a second go round. They're shortepisodes, you're going to do it

(05:08):
in an hour. And when you do it,have your piece of paper in
hand, and start to write downthe things that you thought when
you first listened to theepisode. And when you revisit
these things, there's going tobe more things that just snap
into your head. And you're gonnasay, oh, yeah, I gotta think
about that. And I got it, whatam I going to do here, take the
action steps, because each oneof these little action steps

(05:30):
will become like compoundinterest, compounded interest in
your life. Because until youfree yourself up of some of
these things, and until youallow decisions to be made at a
lower level, without yourinvolvement with the
wholehearted promise at hand,every time, you're not going to

(05:50):
be free. And if you want to befree of some of those things, we
need to get to this profitpoint, right. And once you get
to the profit point, then it'slike, now I can start dreaming
about some how can I help otherpeople, and this is where you
start aligning, maybe adding onto your business, it may be once
you get all this ready, you'reready to add on this other
little division, maybe we'll addon another location. Or maybe I

(06:13):
don't even want to do that withmy business, maybe I want to add
on something else in my lifethat I can now free myself up
with in time, I'm gonna tell youone of my missions in life, it's
my belief that if I can helpentrepreneurs free up their time
and money by helping them usethese frameworks, like the five
Ps and all the other frameworksI go to, that they will free up

(06:35):
their time and money. And it'smy belief that it's the
entrepreneurs, it's the businessowners that are typically the
backbones of their communities.
They're the ones that help outat the churches, they're the
ones that help the they're theLittle League coaches, they're
the ones that are thefundraisers for all of the major

(06:55):
initiatives in town, the the newwing on the hospital, the
steeple, on the church, theplayground, down the road, the
new outdoor rink, or the newball, diamond, you know, all of
those things. Typically, there'sa plaque there somewhere to say
that this was funded by such andsuch a person or partially
funded by such and such person,typically, those people are the

(07:16):
business owners, but they can'teven think about that unless
they can get to a level ofprofitability within their
business. So it's my mission,that if I can help as many
entrepreneurs over my career asI possibly can, then in some
small way, I've helped theircommunity too, because they're
going to take the time and themoney that I've helped them

(07:36):
create, and give it back becauseentrepreneurs and business
owners are typically the type ofpeople that want their community
to flourish, and they're okay toput their money behind that. So
that's my mission, what's yours?
And so that's bigger thansimplifying entrepreneurship
that's bigger than shoe topia,that's bigger than liquidation

(07:56):
roadshow, or bigger than Sandymissed any of my other
businesses that I have, youknow, it's it's sort of my
mission and purpose in life, andhow do I align my time and all
of the things to do that? What'syours, because once you get to
the profitability level, you canstart actually laying out some
of these things. And it givesyou a chance to dream a little

(08:16):
bit again, and how does it allstart? It starts by your
promise, making sure that it'sultimately clear to everybody
aligning your products. And wetalked about all of those,
making sure that there's fullalignment, all of those
processes. And I know there'slots of them, and you're never
going to have them all done, butget like 90% of them done so

(08:37):
that everybody knows what to do.
So you don't have to be involvedin every decision. And your
people, all three steps ofpeople, your ideal client, your
ideal teammate and all of yourother suppliers and help deliver
your promise. With that. Theprofit comes in the profit comes
and it allows you to dream. Sohere's your action step. Go back

(09:00):
and listen to each of these fivepodcasts and take the action
steps if you haven't taken themalready. It's time to take
action so that you can have abetter life. You can free
yourself up from some of thefrustrations within your
business and turn those worriesand wants into wins. Now go and

(09:21):
make it a great day.
An ironic Media Productionsvisit us at our ONICK media.com