• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar

Profit Is The New Black | Shontaye Hawkins

Business Coach | Speaker | Author

  • Home
  • About
    • Who Is Shontaye?
    • Giving Back
  • Work With Shontaye
    • Coaching
    • Speaking
    • Courses
  • Blog
  • FREE FB Group
  • Media
  • Contact

3 Simple Steps To Keep Your Profits In The Black

Leave a Comment

Whether you consider yourself a small business owner or an entrepreneur, one of your goals should be to keep your profits in the black (which means you’re making money!). That may seem too basic but I want to make sure that all business owners – new and seasoned understand what it means to be in the black.  

If your business is going to be the vehicle for creating the lifestyle you desire, you must focus on your profits not just revenue. Why? Because profits are the dollars you get to keep after all your business expenses have been paid. 

I’d really like to believe that the statistics are wrong or skewed in some way, because the data shows that too many small business owners and entrepreneurs aren’t generating enough revenue to make a profit. I can’t imagine that any business owner started their business with that goal in mind – to lose money and keep their profits in the red. That causes nothing but sleepless nights, frustration and stress. 

But the following three steps can help you keep your profits in the black.  

Step 1 – Focus on revenue producing activities daily  

Revenue producing activities are those actions that lead to new income coming into your business. For example, making sales calls or contacting potential clients that you’ve spoken to recently that haven’t become a paying client.   

Step 2 – Create a financial management/review process 

Set up a process that you can follow monthly to review your financial results. This process may include adjusting your prices, payment terms, service (or product) offerings and other key financial data points. 

Step 3 – Ask for help  

The most successful business owners didn’t build their businesses alone. And, you don’t have to either. Identify your strengths, operate in your zone of genius and hire others to fill the roles that you are not the strongest in.

 

Filed Under: Blog, Entrepreneurs Tagged With: financial management, pricing, profits, revenue generating activities, systems

About Shontaye

Bottom Line Strategist™ Shontaye Hawkins uses her extensive finance background and ability to “see through the numbers” to get your Profit Game Plan for success. If you’re ready to eliminate money leaks, create your very own profit strategy - based on YOUR goals - and achieve growth + profit for MEGA results, then Shontaye has exactly what you need. To get your FREE audio gift and receive Shontaye’s weekly newsletter filled with profit tips and strategies, follow the link and enter your name and email address to receive your instant audio download.
Get Your FREE Gift!

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Sold Out Offers Bank

Profit Is The New Black | Shontaye Hawkins | Business Coach

Profit Map

Session With Shontaye

  • Home
  • Who Is Shontaye?
  • Work With Shontaye
Copyright © 2021-2023 Profit Is The New Black, LLC | All rights reserved. | Terms & Conditions | Privacy Policy
This website uses cookies and pixels to give you a better user experience and help us improve, promote and protect our services. By continuing use of this website, you are agreeing to our Privacy Policy.Got It!
Privacy & Cookies Policy
Necessary
Always Enabled