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19. What is your actual business plan? Lifestyle and regular profits OR building for a big exit?
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Today, we're delving into the often-overlooked aspect of business metrics β building wealth. Beyond the familiar trio of sales, profit, and cash, there's a fourth metric that holds the key to long-term success. Join us as we uncover the nuances of maximizing for Cash Cow or Valuation, and reveal the one business metric you might be ignoring to your detriment.
So many entrepreneurs embark on their business journey fueled by passion, sometimes neglecting a clear plan from the start. The fear of working hard with nothing to show for it is a common concern. In this episode, we address the importance of building wealth intentionally and curating it with care to ensure it's not a byproduct but a deliberate outcome.
Do you truly know your business model and how to maximize your wealth within it? We discuss the prevalent issue of entrepreneurs not fully comprehending their business models and offer insights into how to navigate this crucial aspect of business planning.
Beyond the immediate focus on sales, profit, and cash, we introduce the fourth metric β building wealth. Learn why it's a vital component of long-term success and how it can be strategically integrated into your business planning.
We explore the critical decision of whether to maximize your business as a Cash Cow or focus on Valuation. Understand the implications of this choice and gain insights into what you need to consider now for a prosperous future, especially five years down the line.
Connect with Us:
Share your thoughts on scaling client delivery with us on Instagram @pipharland and @iamgeorgiafitzgerald. At Scaling Simplified, we're dedicated to supporting fellow female business owners on the exciting journey beyond six figures and we always love to hear from you. ππΌ
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#ScalingSimplified #BuildingWealth #BusinessMetrics
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