Join hosts David Finkel and Rich Wood in this episode of The Business Coach Podcast as they dive deep into increasing business profitability. They discuss the importance of looking at your business through a profit lens and provide actionable insights on pricing strategies, managing expenses, and improving supply chains. Learn about the difference between accrual and cash accounting, the pitfalls of scope creep, and the value of strategic expenses. Discover how to make your business more durable, scalable, and profitable without sacrificing your time, life, or freedom. Don't miss this episode packed with real-world advice for entrepreneurs aiming for success.
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00:00 Introduction to Strategic Expenses
00:43 Welcome and Episode Overview
00:54 Diving into Profitability
01:38 Common Misconceptions About Profit
04:20 Accrual vs. Cash Accounting
09:08 The Importance of Scope and Contracts
10:23 Cookie Cutter vs. Custom Models
14:30 Effective Pricing Strategies
23:25 Shopping Your Supply Chain
28:42 Strategic vs. Non-Strategic Expenses
33:47 Key Takeaways and Conclusion
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Links
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