Aug 3, 2021
We’re revisiting some of our most popular and helpful podcasts from the last year. For this week, we are replaying episode 51.
We’ve been in the fortunate position to see a lot of online businesses go from moderate success to massive success in less than a year.
In fact, most of our new clients see their businesses grow after the first 12 months of working with us, so we’ve come to expect some sort of growth for all our clients each year, even if it’s just a little bit.
The one thing that is NOT guaranteed with a growing business, however, is profit. There are a lot of expenses that come into running an online business that you might not be thinking of, which is why it’s so important to get a clear and accurate picture of your cashflow.
Entrepreneurs can be misled into thinking that an unhealthy business can simply be fixed by making more sales, but that’s not always the case.
That’s why in this episode, we discuss:
- Why profit is easy in the beginning but more difficult as a business grows
- Why low-six-figure businesses need to worry more about cash flow than profit
- When it’s time to consider getting a better picture of your finances
- The limits of a virtual assistant
- Why profit is so important for online businesses
- Why it’s very rare that online businesses can be profitable simply by accident
- What it takes to make sure your business is staying profitable as it grows