EP 84: Taking the stress out of finances with Staci Millard
Dec 26, 2023
The biggest mistake small business owners make is selling their products without ever looking at their numbers to know if they are actually making a profit, including ALL of the expenses in their business, in order to keep their business afloat. Most small business owners take a guess at what their product pricing should be and before you know it, they are struggling to pay the bills, struggling to buy more raw materials, struggling to even think about hiring help... and it all stems from one sneaky issue, which is your product pricing. In today's episode, Staci Millard shares how to use numbers to grow your business and how to take the stress out of finances so you are truly making money and making an impact and growing your business for the long run.
Staci Millard is a mom of 2 and multi-passionate entrepreneur. She grew and sold her first seven figure business before she was 35 while raising her daughters. She believes in three non-negotiables for every successful business- making money, heart-led impact on those we serve, and having a great life because of our businesses not in spite of it. Staci works as a fractional CFO and business mentor for entrepreneurs helping them scale and have the success she knows we can all achieve.
By the time you finish listening, you'll learn:
- What terms like profit, revenue, cost of sales, overhead, break even REALLY mean
- How to look at your numbers to know if you are ready to come out with new products or not
- How to add in the cost of labor and the cost of overhead to your business to make sure you are covering your expenses on every single sale of your products
Click here to listen to this episode of the Product Biz Podcast!
LINKS MENTIONED IN TODAY'S EPISODE
Get your freebies when you visit: https://stacimillard.ck.page/0e86639236
Follow Staci on Instagram @staci.millard
LEARN MORE FROM MONICA LITTLE
Website: www.monicalittlecoaching.com
Instagram: @monicalittlecoaching
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