The Major Margins Podcast: Recent Episodes
Iyanna Vaughn
Welcome to The Major Margins Podcast! Here, I help online entrepreneurs maximize their profits and create healthy cash flow. This podcast will be packed with tips on starting, growing, and scaling your business. We chat candidly about how to make not only make but KEEP money in your business. All through financial strategy with some of your fave entrepreneurs. We even discuss how to blend life and work on your own terms. Come join us on this journey to major margins!
If you’re like most of the business owner’s we work with, you’re so used to thinking no more than a quarter in advance in your business and life and haven’t gotten the chance to step out of the weeds of the day-to-day to have a bird’s eye view of your financial future.
You think you don’t make enough to think about a legacy yet or that it’s better to reinvest everything back into the business.
But there’s a lot more to wealth than just making the money — what do you do with what you’ve built?
Today on the podcast, a long time client turned friend, Maya Elious shares exactly how she started thinking about creating a legacy for 3 generations in her family and how she brought her parents along in the process where they all created estate plans. She’s now a trust fund baby and embodying her true rich auntie energy.
02:18 — Creating an estate plan to care for 3 generations so the business becomes a true legacy
06:08 — How growing up in a "you have everything you need" household shaped how Maya wanted to create and protect her own wealth
10:25 — When Maya started to prioritize legacy goals and how she defined what that would look like for her
15:04 — Having the realization that protecting your wealth is just as important as building it
16:32 — Why starting small is how you'll make your business the vehicle to build your legacy
22:34 — What an estate plan entails and why everyone should have one regardless of your net worth
“It's the overthinking and the ego of not wanting to start small that can hold us back from building wealth. So if you can shift your mindset into "it's not that hard and I can start small to create something big, you're going to see a lot of success when it comes to our wealth building journey.”
👋 CONNECT WITH MAYA ELIOUS (SHE/HER)
Maya Elious is an award-winning business coach, personal branding strategist, and the go-to expert when it comes to clarifying your message and attracting high-end clients.
She currently leads a team of brilliant women as the CEO of Built To Impact, a coaching and consulting company that teaches overlooked experts how to build a profitable online business in their zone of genius.
Through her programs and live events, she’s helped thousands of clients and customers get clear on their message, launch high-end services, and build six-figure businesses.
www.mayaelious.com/
www.mayaelious.com/dreamlife
www.builttoimpact.com
www.instagram.com/mayaelious
🎉Enter the Harmonious Wealth Hour Giveaway!
3 people will win a 1:1 Harmonious Wealth Hour call where we will identify your biggest financial goal for the next 12 months and create a plan for you to achieve it!
- Subscribe to Harmonious Wealth on YouTube and your favorite podcast app
- Leave a review on Apple Podcasts
- Take a screenshot of the review and submit in the Review Form here so we can email you if you win
You have until Thursday, April 25th to enter and we'll select three winners, who will be notified by email!
💸Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Email Series - Learn how to manage the cash you have now to create harmony among your business, lifestyle, and legacy
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
Connect with Iyanna:
- YouTube
- Website
You don’t truly need that sale.
Your relationship with money is what is making you feel so desperate for sales even though you’ve made multiple-6 or even 7-figures in your business.
Even when you are in a situation where you truly need another sale to come in to help pay your expenses and bills, it’s possible — and necessary — to not be in a state of desperation when you heal your relationship with money.
In this episode, Iyanna shares how to get off the sales desperation train and get on the trust train, even when you’re feeling like you desperately need a sale or more money.
Tune in to hear:
06:29 — Iyanna's journey from desperation to harmony in sales
13:21 — Connecting with your higher purpose or relationship with God instead of relying on grit and willpower
18:37 — 3 ways to go from a negative relationship with money to neutral
22:08 — The one mindset to hold onto whenever you feel like you NEED that sale
23:39 — Balancing masculine and feminine energy in business to take you from neutral to a positive mindset with money
“Not by might, nor by power, but by spirit.”
Zachariah 4:6
MENTIONED IN THIS EPISODE:
• Attached: The New Science of Adult Attachment and How It Can Help You Find and Keep Love
🎉Enter the Harmonious Wealth Hour Giveaway!
3 people will win a 1:1 Harmonious Wealth Hour call where we will identify your biggest financial goal for the next 12 months and create a plan for you to achieve it!
- Subscribe to Harmonious Wealth on YouTube and your favorite podcast app
- Leave a review on Apple Podcasts
- Take a screenshot of the review and submit in the Review Form here so we can email you if you win
You have until Thursday, April 25th to enter and we'll select three winners, who will be notified by email!
💸Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Email Series - Learn how to manage the cash you have now to create harmony among your business, lifestyle, and legacy
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
Connect with Iyanna:
- YouTube
- Website
Have you been unable to pay yourself well and consistently, and now you're feeling a little bit resentful of your business?
Nagina, one of our longtime bookkeeping clients, was experiencing this too. Before working with us, she was frantic about money and making over 6-figures but only taking home 30%.
As an online health coach, wife, mother of two, as well as a working full-time corporate job, she didn't want to run the risk of not being able to have adequate take home pay in her business.
Since working with Lovely Financials, Nagina went from consistently sitting at a 30% profit margin to sustaining 70% consistently. This has allowed her to pay herself six figures, keep excess cash on hand in her business, and max out her retirement to $66,000 for the year.
In this episode, you'll learn how Nagina was able to use her financial reports to increase her profits and revenue and develop the skill of directing her income to work smarter for her.
Plus, she shares the money mindset blocks she had to work through to make it happen.
04:25 — Uncovering why Nagina was making more than 6 figures but only bringing home 30%
11:08 — The financial trends in spending and earning that helped Nagina make decisions that increased profit
21:58 — How the mindset, "I have to work so hard to make money" affected Nagina's growth in her first few years and how she worked through it to scale
29:35 — How raising prices shifted Nagina into a feminine relationship with money and changed her mindset
34:08 — From keeping only 30% to now keeping 70% of every dollar she earned
38:13 — Not investing for retirement is choosing to give up millions of dollars
45:28 — How consistent owner's pay has changed Nagina's lifestyle
👋 CONNECT WITH NAGINA ABDULLAH (SHE/HER)
Nagina Abdullah is a weight-loss coach for women in midlife and founder of the website MasalaBody.com. She teaches women to boost their metabolism especially when what worked before no longer works. She focuses on natural formulas to combine and time metabolism-boosting foods to reduce belly fat and overall weight gain in midlife. Nagina has a degree in Molecular and Cell Biology from UC Berkeley and has helped over 1,500 midlife women successfully lose weight and create a lifestyle change.
Nagina shares her "Sweet Spice Cheat Sheet" with the spice that is in your kitchen cabinet! It helps to lower blood sugar and curb sugar cravings. The cheat sheet includes:
- 3 health benefits of using this spice
- 5 ways to use it in your day
- An easy recipe using this spice
https://masalabody.com/SweetSpicePDF/
🎉Enter the Harmonious Wealth Hour Giveaway!
3 people will win a 1:1 Harmonious Wealth Hour call where we will identify your biggest financial goal for the next 12 months and create a plan for you to achieve it!
- Subscribe to Harmonious Wealth on YouTube and your favorite podcast app
- Leave a review on Apple Podcasts
- Take a screenshot of the review and submit in the Review Form here so we can email you if you win
You have until Thursday, April 25th to enter and we'll select three winners, who will be notified by email!
💸Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Email Series - Learn how to manage the cash you have now to create harmony among your business, lifestyle, and legacy
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
Connect with Iyanna:
- YouTube
- Website
Do you keep seeing dwindling profits in your business, even though you're growing in revenue every single year?
Increasing your profit is not only about creating a healthy and stable business, but it's through your profit margins that you’re able to pay yourself more and support your immediate lifestyle goals and your long-term legacy.
In this episode, you’ll learn about the 5 Profit Focus Areas that will help you see how you can leverage your profit to support your business, lifestyle and legacy goals and how to balance them.
Iyanna will also bring you through the tactical approach for how to determine where your profit margins are, where they need to be and what your “gap” is between the two so you know when you need to focus on profit or revenue (or a combination of both).
She also offers ideas based on your business model to stabilize your revenue and focus on what will increase your sales and profit the most to support you long-term.
Tune in to hear:
03:33 — The 5 Profit Focus Areas that will allow you to increase your profit and cash on hand to support your business, lifestyle and legacy goals
08:25 — Profit planning for coaches and service providers with recurring revenue
14:30 — Profit planning for service providers and influencers who work on projects
20:58 — Profit planning for beauty-based service providers
21:15 — How to track your finances and set guidelines for your expenses
Register for the Free Webinar on April 26 at noon EST: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
📚MENTIONED IN THIS EPISODE
• lovelyfinancials.com/intensive
🎉Enter the Harmonious Wealth Hour Giveaway!
3 people will win a 1:1 Harmonious Wealth Hour call where we will identify your biggest financial goal for the next 12 months and create a plan for you to achieve it!
- Subscribe to Harmonious Wealth on YouTube and your favorite podcast app
- Leave a review on Apple Podcasts
- Take a screenshot of the review and submit in the Review Form here so we can email you if you win
You have until Thursday, April 25th to enter and we'll select three winners, who will be notified by email!
💸Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Email Series - Learn how to manage the cash you have now to create harmony among your business, lifestyle, and legacy
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
Connect with Iyanna:
- YouTube
- Website
As a successful online business owner, you might have imagined that once you started making 6-figures, multiple 6-figures, or even 7-figures in your business, you would simply know how to manage your money.
But here you are, with a multi-6 or even 7-figure business and you still feel like you have just enough to get by.
That’s because making more money doesn’t solve the root of what is causing you to mismanage your money.
In this episode, Iyanna is exploring the depths of the real reasons why you don’t know how to manage your money — despite being really good at making it.
By the end of the episode, you’ll see why reaching your next revenue goal won’t solve this problem and you’ll understand the work that needs to be done so you can change your relationship with money, live in surplus, and have the salary to create the lifestyle and legacy you want without exceeding your means.
03:09 — Decenter money and its connection to your worth
06:31 — How the poverty mindset is still sabotaging you even though you have more wealth than ever
07:21 — How subconscious patterns self-sabotage your ability to manage additional income
17:41 — How to become comfortable living in the surplus rather than in the “just enough”
28:14 — Your willpower alone will not help you reach the success that you desire
Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Get the Dream Lifestyle Calculator: lovelyfinancials.com/lifestyle
🎉Enter the Harmonious Wealth Hour Giveaway!
3 people will win a 1:1 Harmonious Wealth Hour call where we will identify your biggest financial goal for the next 12 months and create a plan for you to achieve it!
- Subscribe to Harmonious Wealth on YouTube and your favorite podcast app
- Leave a review on Apple Podcasts
- Take a screenshot of the review and submit in the Review Form here so we can email you if you win
You have until Thursday, April 25th to enter and we'll select three winners, who will be notified by email!
💸Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Email Series - Learn how to manage the cash you have now to create harmony among your business, lifestyle, and legacy
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
Connect with Iyanna:
- YouTube
- Website
Are you currently making multi-six figures in your business but seem to never have the cash in your business bank account to show for it?
You realize you’re great making money, but you seem to know even better how to spend it.
But, now that you’re scaling, can’t tell what money coming in is truly “spendable” and what you need to save for taxes, what should be used to pay off debt, and what to save so you can pay yourself consistently, even when your revenue is inconsistent.
In this episode, Iyanna is sharing how you can stop being avoidant, learn how to look at your cash flow (and why it matters) and how to create healthy cash flow in your business so you can pay yourself and achieve your personal wealth goals.
02:18 — The subtle (and not-so-subtle) ways poverty mindset makes you avoidant and causes you to have cash flow issues
05:39 — You need to assess your trends to know how any decision impacts every area of your finances
07:35 — How to create a plan to define success for each of your numbers
13:26 — The real reasons why you're avoiding your money and the habits you have that are keeping you stuck
15:34 — Why you aren't looking at your numbers and finally gain confidence to review your reports
20:13 — How to gain confidence with knowing your numbers and how to use them
👉 Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
📚MENTIONED IN THIS EPISODE
• Psychology of Money by Morgan Housel - https://amzn.to/3Tsyxc4
• Secrets of a Millionaire Mind by T. Harv Eker - https://amzn.to/3V76ro2
• Harmonious Cash Flow Planner - lovelyfinancials.com/cashflow
🎉Enter the Harmonious Wealth Hour Giveaway!
3 people will win a 1:1 Harmonious Wealth Hour call where we will identify your biggest financial goal for the next 12 months and create a plan for you to achieve it!
- Subscribe to Harmonious Wealth on YouTube and your favorite podcast app
- Leave a review on Apple Podcasts
- Take a screenshot of the review and submit in the Review Form here so we can email you if you win
You have until Thursday, April 25th to enter and we'll select three winners, who will be notified by email!
💸Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Email Series - Learn how to manage the cash you have now to create harmony among your business, lifestyle, and legacy
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
Connect with Iyanna:
- YouTube
- Website
Hitting 6- or 7-figure revenue goals means nothing if you don’t have the personal wealth and legacy to show for it.
There’s way too much emphasis on revenue in the online business world and it leaves us chasing ever next revenue milestone, burning out to try to make more money, when really what you need is for your revenue to meet your lifestyle and legacy goals first.
By the end of this episode, you’ll be able to see how to think about your revenue goal so it actually gives you the lifestyle and legacy you want for you and your family rather than picking an arbitrary milestone that sounds sexy.
This is what’s going to allow you to get clear on what you’re truly needing and how you might even be able to have that right now if you focused on a few other numbers instead of just revenue.
03:02 — The 2 things to consider when creating your revenue goals
06:36 — How to create your legacy plan so you can align revenue goals with what you truly want
10:24 — The 3 numbers you need to know to achieve your personal lifestyle and legacy goals
21:36 — Why you're living pay-check to pay-check as a multi-6 or 7-figure business owner and how to pay yourself consistently
📚MENTIONED IN THIS EPISODE
• Dream Lifestyle Calculator: lovelyfinancials.com/lifestyle
• Cash Flow Quadrant Book: https://amzn.to/3TidPdY
🎉Enter the Harmonious Wealth Hour Giveaway!
3 people will win a 1:1 Harmonious Wealth Hour call where we will identify your biggest financial goal for the next 12 months and create a plan for you to achieve it!
- Subscribe to Harmonious Wealth on YouTube and your favorite podcast app
- Leave a review on Apple Podcasts
- Take a screenshot of the review and submit in the Review Form here so we can email you if you win
You have until Thursday, April 25th to enter and we'll select three winners, who will be notified by email!
💸Register for the Free Webinar: Your Revenue Goals Don't Matter If You Don't Have the Lifestyle and Legacy Plan to Show for It
lovelyfinancials.com/openhouse
Email Series - Learn how to manage the cash you have now to create harmony among your business, lifestyle, and legacy
Bookkeeping - Receive bookkeeping with NO tax surprises
Profit Planning Intensive - Increase your profit by 25%
Connect with Iyanna:
- YouTube
- Website
You have been working too hard to not have the cash on hand you need in your business to pay yourself consistently.
Generating multi-6 and multi-7 figures in revenue doesn’t matter if it’s not creating the lifestyle and legacy you want for yourself and your family.
On Harmonious Wealth we’re breaking online business owners free from chasing every next revenue milestone and instead prioritizing your lifestyle and legacy goals so you can finally have the personal wealth to show for your business success.
I’m your host, Iyanna Vaughn, fractional CFO and owner of Lovely Financials Group. I’ve helped dozens of multi-6 and 7-figure entrepreneurs create harmony in their business, lifestyle, and legacy so that their goals are rooted in their life’s purpose rather than a flashy number.
By prioritizing lifestyle and legacy goals first, we can build your business profit to support them— because making more revenue doesn’t mean you’ll reach your wealth goals if you’re not managing your cash effectively.
In each episode, you’ll understand how managing your cash — both business and personal— and address your money stories _ to finally get you out of the feast and famine in business, pay yourself consistently, and fund your lifestyle and legacy without the pressure to double your revenue again and again.
If you’re ready to stop avoiding your numbers and have your business build personal wealth and legacy without extensive hustle, hit the subscribe button on your favorite podcast app or YouTube.
Connect with Iyanna:
- YouTube
- Website
Show produced by Jocelyn Montemarano of Connect Through Content.
Today is a solo episode on the show! I share how I believe we should push through in our lives and business through these uncertain times of COVID-19. I’ve been feeling a sense of calmness and I’m making it my business to spread some positivity.
As we know, our medical field will be the ones to save us. On the other hand, entrepreneurs will be in charge of turning around our economy.
Here’s what I discussed:
- The acronym S.L.A.M. to help you push through this uncertainty
- (S) Decreasing your stress levels to take care of yourself mentally and physically
- (L) Taking the time to Learn new things or learn exactly what’s going to work in your business.
- (A) Apply new strategies where necessary - this can be in the form of pivoting your messaging a bit to stay relevant as you provide your value.
- (M) Manage your cash flow! Both on a personal level and business level!
We also get into what the US government is doing to help save small businesses through SBA loans and what they're all about.
Get The S.L.A.M Toolkit:
- What I use to keep track of my mental & physical health each week
- The 50/20/30 Budgeting System Blog post for your business finances
- SBA Loan Info
Other Great Resources:
- Personal Money Manager
- Major Margins Bundle
The Major Margins Podcast
Email Us: hello@lovelyfinancials.com | Instagram|Facebook
Today Delania Barbee, Esq graces the podcast on the final episode of the #BlackWealthMonthSeries. I’m so happy to close the series out with giving you actionable advice on how to protect your legacy.
Delania Barbee is the owner and founder of Barbee Law Boutique, PLLC dedicated to helping protect and build businesses and legacies.
What we covered:
- How a traumatic experience of losing her partner to gun violence helped her see her calling to educate other about the law
- Delania’s first job out of college advocating for her clients and how it prepped her to be the attorney she is today
- Where to get started in protecting both your life and business
- What is an estate plan and why it’s a living and breathing thing you must continue to update
- Her ultimate meaning of Black Wealth
Resources mentioned:
- The Barbee Law Boutique -website to help you get started in protecting your business and legacy
- Hiscox- business insurance to help you gain coverage such as general liability insurance and errors and omissions
Catch up with Delania Here:
Instagram:@barbeelaw
Facebook:@barbeelawonline
Today on the Major Margins Podcast marks the penultimate episode of our #BlackWealthMonth Series and I had the pleasure of interviewing yet another special guest, Kendra Barnes.
Full-time Real Estate Investor and Founder of The Key Resource, Kendra shares with us why investing in Real Estate is the ultimate key to building wealth and the vast resources available for you to get started.
Kendra says, “You don’t have to be rich first, you become rich by investing in Real Estate. There’s a misconception that you have to be established before getting into it, but that’s completely not the case”.
The topics we cover:
-
How a board-game influenced her pursuit of real estate investing
-
Who she had to become in order to successfully retire at age 32
-
Why you don’t need to be wealthy first before getting started
-
The different forms of real estate investing to suit you
-
The rise of Gentrification and educating POC on investing in their communities
Keep up with Kendra Barnes here:
Instagram:@thekeyresource
Twitter: @The_KeyResource
The Key Resource - like the website indicates, there’s so many resources so you know exactly where to start with real estate investing!
The Charm City Buyers - The couple mentioned in the episode buying back the blocks of Baltimore
As you may already know, it’s #BlackWealthMonth on the Major Margins Podcast and I’m back with another insightful interview focusing on building, growing and protecting Black Wealth!
In this episode, I’ll be interviewing George Acheampong, passionate thought leader, top Financial Advisor and Founder of Capitalwize, Melanin Money & Makes Cent 2 Me.
George shares with us his advice on how to get started with financial investing, the greater benefits of temporarily downsizing your lifestyle and his ambition to help close the racial wealth gap by 10%.
The topics we cover:
-
Growing up & adopting a strong work ethic
-
Purpose over Paycheck: Serving people who look like him
-
Ways to make your money start working for you
-
Staying “broke” to build wealth
-
The choice of different investment accounts
We also discuss the benefits of normalizing Black Wealth, as George says “ If we can normalize Black Wealth, then we can put our people in the position to be free”.
Keep up with George here:
Instagram: @GeorgeAcheampongJr
https://capitalwize.co/
https://melaninmoney.com/
https://makescents2me.com/
We have an exciting new series for this month of February on the Major Margins Podcast and it’s all about Black Wealth! In this episode, I had the pleasure of interviewing the wonderful Jamal & Natasha Miller - Founders of Miller Global Enterprises, a black-owned parent-company to Married & Young, The One University and Profit in Purpose Academy.
Jamal & Natasha share with us their personal journeys to not only creating a beautiful marriage, but an unstoppable business partnership that continues to inspire and reach hundreds of thousands of people daily.
The topics we cover:
-
Becoming the best version of themselves with God
-
Monetising social influence
-
Decreasing the divorce rate in America
-
Creating a purposeful work environment
-
Owning a 7-figure business & the responsibility it brings
We also delve deep into the meaning of Black Wealth and the importance is has in creating a positive change and legacy for our next generation.
Keep up with Jamal & Natasha here:
@jamalmiller
@natashaannmiller
https://marriedandyoung.com/
https://theoneuniversity.com/
In this episode, we continue the behind-the-scenes journey of how I master my cash flow. This week, we go over my process for the last part of my Financial Friday, personal finances.
I go in depth about how I manage my money with the 50/20/30 budgeting system. You can read about it on the blog!
What I cover:
- The 50/20/30 Budgeting system - you can also ready about it here.
- The software I use for my personal finances
- Other personal finance software
- My weekly process
Resources:
- The 50/20/30 Budgeting Blog Post
- The Major Margins Bundle
- YNAB
Today on the podcast, I share behind the scenes on how I run my Financial Friday’s. Yes, you read right! I’m giving you the step-by-step process in how I manage my own numbers.
2019 was the year where I promised myself that I’d treat my own finances like I do my clients. Doing this, caused me to grow my own numbers in ways they’ve never been before.
In this episode I share:
- A brief history of how I managed my money in my 20s
- How I utilize Profit First in my business
- The software I use to track my business finances
- My weekly workflow to manage my business finances
Resources:
- The Classy Cash Flow Kit
- Profit First Book
- The Major Margins Bundle
- Quickbooks and Xero - my accounting software of choice for clients and myself
Today on I talk all about how profit is vastly different than cash flow! You ever looked at your profits and thought it was a healthy month then looked at your bank balance and wondered where in the world did the money go?!
I’m sharing all about why that’s the case. If you’re trying to better understand how cash flows in and out of your business, this episode is for you.
Here’s what I cover:
Why profit is not the same as cash flow cashflow
- Beginning bank balance
- Incoming cash - revenue, owner’s investments, loan
- Outgoing cash - expenses, owner’s draw, paying off credit card/loan, purchase of asset
- Ending cash balance
How to review the statement of cash flow
- Operating activities
- Investing activities
- Financial activities
They tell us different things that can happen outside the P&L
Resources to help you get the full picture
- The Classy Cash Flow Kit
- The Major Margins Bundle
Email: hello@lovelyfinancials.con | Instagram: instagram.com/lovelyfinancials | Facebook: facebook.com/lovelyfinancials
Today on the podcast, we're getting back to basics. Let's talk all about the key differences between revenue and profit. These terms are used interchangeably in the world of online business and I want to give you a bite-sized episode all about it today.
No judgement if you found yourself using these terms interchangeably. I'm here to help guide you to better understand your numbers.
Today on the podcast, I continue the journey about profits and dig into understanding profit margins! In the previous episode, I shared how revenue was NOT the same as profits. Profit Margins are an easier way to be more transparent about your business instead of sharing the raw numbers.
Here’s what we cover:
- The full Income Statement
- Gross Profit Margins
- My typical ideal for gross profit margins
- Operating Profit Margins
- Expense to Revenue Ratios
We also get a dip into the different profit margins depending on industries and why you need to STOP comparing yourself in business..
Need help grasping the concepts?!
Resources:
- The Classy Cash Flow Kit
- The Major Margins Bundle
In this episode, I talk all about my story before I started my business Lovely Financials Group and the beginning steps of my entrepreneurial journey.
I know you can relate that all the positions you've held in your life is transferable to how you serve your audience.
My story is no different!