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038: Slashing Costs: How One Client Saved $40,000 in Expenses and Transformed Their Trade Business
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For trade business owners, every dollar saved is a dollar earned, and every improvement can be a game-changer.
For today's episode, I want to share an inspiring story that holds valuable lessons for all trade business owners out there, a story of how one client saved a remarkable $40,000 in expenses and transformed their entire operation.
Stuart's successful journey began with a crucial step – a comprehensive expense review. This was not just about tallying bills and invoices. It was about dissecting every expense line by line, seeking hidden leaks and inefficiencies. It was about a meticulous examination of the financial health of the business.
In this episode of the Profit First for Tradies, you’ll learn the following:
- Stuart's business situation (00:58)
- The significance of doing an expense review (01:40)
- Tips for what to look for in an expense review (04:28)
- How Katie helps tradespeople with cash flow issues (06:02)
This story isn't just about numbers and savings; it's about a powerful reminder that change is possible, even in the toughest of industries and the journey to slashing costs and achieving remarkable transformation can begin with a simple financial review.
If you haven’t listened to our previous episode about Cracking the Late Payment Puzzle Expert Solutions for Tradies to Get Paid on Time, Every Time, check out Episode 037.
QUOTES
"An expense review is about patching the leaky bucket and stopping expenses that we actually don't need to spend money on." -Katie Crismale-Marshall
"The expense review is not there for you to feel bad about yourself for wasting money on things in the past but it helps us learn from it and move forward." -Katie Crismale-Marshall
Resources
CONNECT WITH KATIE CRISMALE-MARSHALL
- Email: katie@profitfirstfortradies.com.au
- Website: https://www.profitfirstfortradies.com.au/
- YouTube:https://www.youtube.com/@profitfirstfortradies9503/featured
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