She's Building Her Empire: Female Entrepreneurs | Women In Business | Online Marketing | Management | Productivity | Launchi

Stacy tackles the pressing issue of low-profit margins affecting many small businesses and shares 10 practical strategies to help you maximize profitability for your financial health.  From mastering your numbers and trimming expenses to reevaluating pricing and renegotiating contracts, these steps will empower your business. Discover the importance of customer retention and upselling, along with the benefits of daily cash flow monitoring. Learn why seeking help from your CPA and coach is crucial. Plus, explore the concept of temporary lines of credit. Don't let low-profit margins hold you back – take charge of your financial success today! Also in this episode:  Profit Margins Are Critical: A good profit margin is typically 10 to 20% or higher. Watch Your Expenses: Even if you have a $500,000 business, high monthly expenses can leave you living paycheck to paycheck. Act Now: Don't assume that your financial situation will improve with time or larger numbers.  Know Your Numbers: Don't rely solely on bookkeep