Episode Synopsis "Episode 6 - The Root of Profitability"

Hey Profit Nation, In this episode we talk about the root of profitability for your business. We discuss the dreaded "B" word Budgeting. This is the most critical element for becoming a profitable business. Your budget shows you what your income and outflows work out.  In the episode Jeff talks about Mike Michaelowicz's book Profit FIrst. In this book Mike talks about the GAAP (Generally Accepted Accounting Practices) equation which is: Income - Expenses = Profit Mike feels this is foolish  and should be: Income - Profits = Expenses Based on this equation, Jeff walks you through a basic budgeting exercise using 6 sheets of paper to break down your Business and Personal Budgets.  If you are interested in learning how to do this more in detail our Profit Producers Launchpad program will we launching more in a few weeks. More information here: www.profitproducers.net

Listen "Episode 6 - The Root of Profitability"

More episodes of the podcast Profit Nation

• Episode 10 - 52 Week Networking Challenge - Week 3 - Profile Your Preferred Client
• Episode 9 - 52 Week Networking Challenge - Week 2 - Block out Time to Network
• Episode 8 - The 52 Week Networking Challenge - Day 1 - Set Your Goals
• Episode 7 - Productivity
• Episode 6 - The Root of Profitability
• Episode 5: Mental Toughness for Entrepreneurs
• Episode 4 - High Performance Time Management
• Bonus Episode 3.5 - (7 Habits and Start With The Why)
• Episode 3 - Belinda Mendoza/Design for Energy
• Episode 2 - The Power of a Morning Routine