The Profit Plot Category

Can "The E-Myth Revisited" Change Your Life and Business?

In this episode of The Profit Plot, host Jeremy Millar uncovers the timeless wisdom of Michael E. Gerber's "The E-Myth Revisited." Discover why many small businesses fail despite their owners' technical skills and learn practical strategies to transform your business from a chaotic operation to a well-oiled machine.

Maximizing Business Efficiency: The Power of Intentional System Design

Your business performs exactly as it's designed. In this episode of the Profit Plot, Jeremy highlights the importance of intentionally designing business systems. He discusses common pitfalls small business owners face, such as neglecting crucial aspects like marketing, hiring, and financial management.

Mastering Price Elasticity for Business Success

How does pricing affect your business? Price elasticity is the measurement of how pricing changes affect the quantity demanded of a given product. Delve into the secrets of mastering market fluctuations, paving the way for a thriving business.

Unlocking Business Growth: Master the Art of Economy of Scale

Economies of scale refer to the savings that a business can achieve at increased levels of production. How do you foster substantial growth without exponentially increasing resources? How do you determine the right size and pace for your business growth? The concept of "economies of scale" might hold the answers you seek.

Three Financial Formulas Every Business Owner Should Know

There are so many ways to track your business's performance, but how do you know what's the right way? You must measure and manage the right data points using the right method. Explore the often-misunderstood mantra, "What gets measured gets managed," and discover its potential pitfalls.

Safeguarding Your Business: The Right Bank Balance

How much money should stay in your business bank account? Creating a financial safety net is essential for small business owners. How can you calculate the right amount of cash to keep on hand to cover operating expenses and seize growth opportunities?

Is Debt Bad for Your Business?

Whether it's a necessary evil or a strategic asset, debt is a topic of endless debate among business owners. Uncover the nuanced nature of debt, its potential risks and rewards, and navigate its complex role in business financing.

The Biggest Mistakes High-Performing Busines Owners Make

Entrepreneurship is an exhilarating journey. It allows you to tap into your unique skills and turn your passion into a profitable venture. But what happens when you realize that your business solely depends on you? How do you transition from being a high-performing individual to leading a sustainable business that can operate independently?

How Harnessing Your Financial Data Can Transform Your Business

Data is one of the most sought-after resources in the world right now. Protecting, interpreting, and gathering it helps companies make billions of dollars. What if you could leverage your own financial data to understand your business, resulting in a deeper understanding than ever before?

How to Predict Sales in Your Business With Better Accuracy

Trying to predict sales figures as a small business owner is one of the hardest financial KPIs to accurately predict! There are so many factors that can cause sales to fluctuate, and many of them are out of your control completely. If you focus on the right things, a new strategy can help you peel back the fabric of the universe and predict what your sales will be.

Don't Fly Blind: Mastering Strategic Budgeting for Business Success

A budget is a document used to project future revenue and expenses in a business. However, most small business owners don't have a budget! This simple tool can be used to scale your business and achieve your goals with confidence.

The Role of a Fractional CFO in Scaling Your Business

A fractional CFO can be a game-changing hire for a small business owner. vCFOs allow you to redirect your energy away from your business's finance and focus instead on growing your business. These essential service providers can be cheaper than a full-time executive while still delivering immense value.

The Importance of Cash Flow Management for Small Business Success

Cash flow management is an essential component of running your small business. Without properly managing your money as a business owner, you risk defaulting on loans, being unable to run payroll, and bankrupting your business. Luckily, cash flow management is an incredibly accessible practice!

Financial Forecasting: How to Plan for the Future of Your Business

Financial forecasting helps you model scenarios and paint a picture of the future. When done correctly, it can help you unlock an edge in your business that is unlike any other. One that allows you to be confident in your plans moving forward, in the decisions that you're making, and in your business itself.

Understanding Financial Statements: How to Analyze Your Business's Financial Health

Proft and Loss. Balance Sheet. Statement of Cash Flows. Your financial statements are vital documents that uniquely illustrate your business's story! Understanding and analyzing these statements is a critical component of building a successful business.

The Benefits of Financial Coaching for Small Business Owners

There are many types of business coaches. Some focus on C-Suite or Executive level coaching, many focus on mindset, and still others choose to focus their coaching efforts on the business as a whole. The most effective coaches leverage data and information from the business itself in order to deeply understand the story within.

Understanding the Basics of Business Finance: A Beginner's Guide

Business finance is complex and confusing, and at the same time, incredibly important. Your understanding of your small business's finances is directly related to the overall success of your business. Dive into the basics in this episode of the Profit Plot.

The Profit Plot

Welcome to the Profit Plot, the show where we unpack and simplify one complex financial topic at a time to help business owners unlock the story behind their profitable businesses.