Putting profit first to bring meaning & impact back into your business
I’ll be the first to admit that I don’t always maintain a laser-focus on the numbers in my business. There are many reasons that entrepreneurs might not want to focus on the numbers, including fear or overwhelm or being super busy. For me, it’s because lately I’ve been focused on growing and reinvesting my funds into my business.
But my conversation with today’s guest has gotten me excited about digging back into the profit, cashflow, other financial aspects of my own business, and I bet you’ll feel the same.
Amber Dugger is a Profit First-trained coach who helps clients reduce stress and anxiety about money and build a business that supports their lifestyle. She comes from a background in both financial and health coaching, so it’s no surprise she brings a refreshing and holistic approach to cashflow management and money in general.
Amber is a really savvy businessperson and we speak in-depth about how she grew her business and transformed her financial background into an entrepreneurial pursuit. She talks about the difference between cash flow, bookkeeping, and accounting, how she helps clients get clear on what they want to do with their money, and why she loves helping people realize that they are completely capable of managing their cash flow and building a business that supports their dreams.
I really enjoyed this conversation in particular because Amber has such a clear picture of what has made her business successful. We talk about how she built her money-focused business alongside her health coaching one and the moment she truly committed to entrepreneurship.
She also shares how strategic partnerships helped her get leads early on and why learning to communicate exactly what value she provides her clients was a huge game-changer for her revenue.
What Mastery means to Amber:
Mastery is achieved when the person has integrated the subject into normal routines and habits. Not only do they live and breathe it, but they can also effectively teach it in a way that is simple and easy to understand to someone who is a novice. Most importantly, the person who has achieved mastery recognizes that to maintain that level, one must continue to pursue continued knowledge and learning and recognizes that maintaining mastery is a never-ending pursuit.
Amber’s Turning point:
My business literally exploded in a matter of 30 days once I learned how to articulate my signature process into easy to understand steps and explain it in a way that the future client could relate to how it would not only solve their problem but also was able to understand how it would be solved.
Amber’s Core message:
It is essential to sit down with yourself and understand what it is that you want to do with the resources that come into your business (above normal expenses) to truly see what it is that you want to be bringing in each month. This allows you to strategize with a numbers goal that will actually bring you fulfillment and joy.
What You’ll Learn from this Episode:
- Why looking at and understanding your cash flow is a freeing process, rather than a scary one.
- How Amber discovered the Profit First approach and combined it with what she was already doing to help clients feel empowered with their business revenue.
- Why it’s a good idea to pay yourself consistently as a business owner, even if it’s just a small amount.
- Why deciding how much you want to pay yourself and reverse-engineering the rest of your business is a really effective approach.
- How and why Amber transitioned from her secure corporate financial job into entrepreneurship.
- What she did to find and attract new leads as she became a more established profitability coach
Links mentioned in this show
- Amber Dugger | Profitability Calculator
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
- Tapping into Wealth: How Emotional Freedom Techniques (EFT) Can Help You Clear the Path to Making More Money by Margaret Lynch
- Maya Gaddie | Ep #2: How to hit your goals with just one offer
- Tara McMullin | Ep #32: Build your confidence with a business model you believe in
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