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Profit Is The New Black | Shontaye Hawkins

Business Coach | Speaker | Author

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What No One Told You About Pricing, Until Now

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Profit, according to Investopedia, is defined as a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity. Any profit that is gained goes to the business owners, who may or may not decide to spend it on the business.

Profit is not the same as sales or revenue yet you might hear business owners use these terms interchangeably.

Total Revenue Less Total Expenses = Profit

When you’re profitable, that means you’re in “the black” and have access to more resources and opportunities to continue growing your business.

So, what does this have to do with pricing? Everything!

When you charge enough to pay all of your business expenses, you’ll generate profit. But oftentimes, small business owners leave two key numbers out of their pricing formula.

  1. Their salary – hourly rate (yes, that’s an expense!)
  2. Profit margin

These numbers aren’t optional if your goal is to generate profit. They’re required.

You don’t need to work harder to generate consistent revenue and profit, you just have to work smarter. For instance, getting more clients and selling more may not solve your profit issue if you’re spending money at a rate faster than it’s coming in. The solution isn’t to just pick a number or simply charge (less than) what your competitors are charging.

The solution is to create a simple and easy to use profitable pricing plan for your business that allows you to get paid what you desire.

Let’s fix your pricing challenges, once and for all.

Join me for my upcoming Price For Profit Bootcamp. But hurry, space is limited. Can’t attend the live virtual bootcamp? Then grab the self paced Price For Profit Course! Get all the details here.
 

Filed Under: Blog, Entrepreneurs Tagged With: consistency, grow revenue, price for profit, pricing, profit, profit margin

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.
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