Ever wonder about the true importance of financial literacy in business? I had an enlightening conversation with Ellen Rohr, president of Zoom Drain Franchise LLC, about just that. One key takeaway - never ignore your numbers. Understanding them can make the difference between just getting by and truly thriving.
In this episode, we discussed:
Discussion on the challenges of starting a podcast and the importance of perseverance
Importance of financial literacy and the role of accountants in helping entrepreneurs understand their numbers and improve profitability
Ellen's experience in the plumbing industry and the importance of pricing strategies
Need for tradespeople to stay up-to-date with pricing and not be afraid to raise prices
Importance of understanding the costs of doing business and fully burdened labor cost
Importance of having a good relationship with bookkeepers, CPAs, and other financial professionals
Key performance indicators (KPIs) for businesses: cash flow, profit, and sales
Concept of profit first and structuring expenses around planned profit
Importance of building financial strength gradually and making smart financial decisions to improve cash flow
Managing payroll and finding efficiencies in the trades industry
Importance of truck inspections and addressing inefficiencies and unproductive hours
Profit leaks in family businesses and the need to address underperforming relatives
Listen to all episodes at https://profitablehomeservices.com/
Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
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Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.