Profit Margins: The Difference Between Growth and Going Broke
Description
We take a look at why some businesses thrive while others barely survive, breaking down gross vs net profit, how margins impact your bottom line, and why choosing (or tweaking) the right business model is key to long-term success.
On this episode, we discuss:
(00:00 ) Intro
(01:17 ) Choosing The Right Business For Your Future Income
(02:29 ) Gross Profit Vs Net Profit Explained
(03:32 ) Passion vs Profit: The Reality Of Running A Business
(07:03 ) Why High Gross Profit Gives You Flexibility
(08:37 ) Construction Industry’s Slim Margins And High Risk
(9:46 ) The Costly Impact Of A Bad Contract
(13:14 ) Focusing On High-Margin Work To Reduce Risk
(15:25 ) Smart Business Model Tweaks That Increase Profitability
(17:47 ) Examples Of Businesses Pivoting For Better Margins
(24:36 ) Why Strategic Thinking Beats Passion Alone
Check out the free resources from Inovayt here.
Send us an email: hello@thenumbersgamepodcast.com.au
The Numbers Game is brought to you by Future Advisory & Inovayt.
Hosts:
Nick Reilly
Jason Robinson
Martin Vidakovic
This podcast is produced by VIDPOD.
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