011: Beyond the Numbers: What 5 Years in PF Has Taught Me About Understanding Clients
As an entrepreneur, understanding what your clients need and want can be one of the most difficult parts of running a successful business. Whether you’ve been in business for 5 years or 50 years, it can be hard to keep up with the ever-changing dynamics of modern-day businesses, especially when those changes have to do with financials.
In this episode of Profit First for Tradies, I share with you what 5 years in PF has taught me about understanding clients that will help you better understand your own clients and create long-lasting solutions that benefit everyone involved.
In the past 5 years, I've been able to gain invaluable insights into understanding my clients by managing their finances through a system known as Profit First. This approach has allowed me to focus on common goal-setting principles, such as setting achievable financial targets that help businesses implement cash flow strategies and realise profits.
Throughout this period of time, I have seen many clients succeed in achieving more satisfying outcomes for themselves – whether it's reaching profitability goals with less stress and along the way having more balance between work and life or simplifying their business operations.
As an entrepreneur, understanding what your clients need and want can be one of the most difficult parts of running a successful business. Whether you’ve been in business for 5 years or 50 years, it can be hard to keep up with the ever-changing dynamics of modern-day businesses, especially when those changes have to do with financials.
In this episode of Profit First for Tradies, I share with you what 5 years in PF has taught me about understanding clients that will help you better understand your own clients and create long-lasting solutions that benefit everyone involved.
In the past 5 years, I've been able to gain invaluable insights into understanding my clients by managing their finances through a system known as Profit First. This approach has allowed me to focus on common goal-setting principles, such as setting achievable financial targets that help businesses implement cash flow strategies and realise profits.
Throughout this period of time, I have seen many clients succeed in achieving more satisfying outcomes for themselves – whether it's reaching profitability goals with less stress and along the way having more balance between work and life or simplifying their business operations.
In this episode of the Profit First for Tradies, you’ll learn the following:
- Some of the things I have found out about my clients (00:09)
- The importance of looking forward (02:01)
- Why you should focus on your financial fundamentals first (04:02)
- Ways to make your bookkeeping simple and efficient (05:43)
- The value of having data to back up gut feelings (06:50)
- Understanding underpricing and over delivering (08:35)
- How to re-build your financial foundations (09:42)
As someone who works closely with small business owners every day, I understand how difficult some decisions can be—and that’s why guiding them toward implementing a system like Profit First has proven so beneficial over time.
If you haven’t listened to our previous episode about Building a Solid Financial Foundation: How a Certified Profit First Professional Can Help, go back and check out
Episode 010.
QUOTES
"Be proactive and look ahead and see what we can do rather than be reactive and wait for things to happen to us." -Katie Crismale-Marshall
"Those who fail and choose to leave their businesses are often in a better position than those who decide to stay and keep working harder and longer." -Katie Crismale-Marshall
"You must focus on your financials first, before anything else in your business." -Katie Crismale-Marshall
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