Episode 10 – Why Is My $1 Million Service-Based Business Broke?Description:In this milestone 10th episode of The Savvy or Surrender Podcast, Host Steven Young dives deep into the hidden reasons why even seven-figure service-based businesses can struggle with cash flow. Learn why big revenue doesn’t always mean big profits, the most common financial mistakes business owners make, and actionable steps to finally take control of your money. If you’ve ever wondered where your money is going—or why your bank account doesn’t reflect your hard work—this episode is for you.Show Notes00:00 – IntroductionSteven opens the episode, celebrating the 10th show milestone.Importance of podcast consistency and audience engagement.00:45 – The Illusion of SuccessBig revenue doesn’t guarantee cash in the bank.Revenue ≠ Profit. Many business owners struggle with cash flow despite high sales.02:13 – Overspending on GrowthCommon mistake: investing in growth (equipment, staff, offices) before profits justify it.Real-life examples: Boston Market, Mattress Firm.07:16 – Poor Cash Flow ManagementWatching the bank balance instead of managing cash flow.Importance of systems like Profit First and cash flow forecasting.08:47 – Underpricing and OverdeliveringFear of charging what you’re worth leads to exhaustion and underpayment.The “Savvy Ritz” concept: providing first-class service at budget prices is unsustainable.11:48 – Being Reactive on TaxesTreating taxes as a once-a-year event leads to surprises and financial stress.The wealthy plan for taxes all year.14:14 – Lack of Financial ClarityOutdated or messy bookkeeping leads to poor decision-making.Importance of reconciled accounts and understanding financial statements.16:54 – The Savvy Fix: How to Stop Being Broke at a MillionAdopt Profit First: pay yourself first, set up multiple bank accounts.Know your real numbers: track profit margins, expenses, and trends.Stop buying growth without ROI.Schedule regular money meetings.Build a cash cushion (3 months of expenses).23:32 – From Operator to CEOShift from chasing money to controlling it.Take the Savvy Tax Strategies quiz and get free Profit First chapters.Book a Savvy Path to Cash assessment.25:28 – ClosingSteven thanks listeners, encourages reviews and engagement.Teaser for next episode.YouTube SEO Keywords:Why is my business broke?How to fix cash flow problems in businessService business money mistakesWhy doesn’t my business profit match my revenue?How to manage business cash flowProfit First explainedSmall business financial tips 2024How to stop being broke as an entrepreneurBusiness owner money managementHow to pay yourself as a business ownerWhy is my 7 figure business not profitable?How to avoid business cash flow mistakesBest bookkeeping tips for small businessHow to plan for business taxesHow to build a business emergency fundHashtags:#profitfirst  #CashFlow #SmallBusiness #Entrepreneurship #BusinessGrowth #Bookkeeping #TaxPlanning #FinancialClarity #ServiceBusiness #SavvyTaxStrategies #CashFlowFix #ProfitFirstMethod #BusinessProfitability #EntrepreneurFinance #ServiceBusinessTips #BusinessCashFlow #ProfitPlanning #FinancialFreedom #SavvyCEO #SavvyOrSurrender@savvytaxes savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

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