Episode 06: How Important Is Your Financial Model?

We need to talk about something crucial that impacts the success of your business: understanding your financial model. 

Here's the deal: if you're scratching your head about how your financial model works, it's likely affecting your pricing, efficiency, gross profit margins, and overall earnings. 

Ouch! But fear not because we've got you covered.

In our latest podcast episode, we're diving into the nitty-gritty of financial models. But hold on. It's not all jargon and complexity—we have a client case study that will blow your mind! 

Picture this: transforming a struggling business into a million-dollar success story. Yes, it's possible!

Here's the kicker: scaling your business without understanding your financial model is like driving blindfolded. Scary, right? That's why we're here to guide you. 

We'll reveal Tony Robbins' secret 20% net income benchmark and why it should be your goal. Whether you're a budding entrepreneur or a seasoned business owner, this episode is packed with insights you can't afford to miss.

Ready to level up your financial game? Tune in now and join us on this exciting journey towards business success. It's time to make those dollars work for you!

Remember, wealthy entrepreneurs, understanding your financial model is the gateway to sustainable success. 

Let's make those profits rain! 💸

Episode Highlights:

• 00:00 Welcome to The Wealthy Entrepreneur Podcast
• 02:00 Decoding the Financial Model 
• 03:57 Understanding Cost of Goods Sold, Direct Costs, Variable Costs, and Cost of Delivery 
• 05:50 How Much Are You Really Making Per Sale? 
• 07:44 The Unsung Heroes of Your Financial Model 
• 09:07 Why Understanding Your Model is Vital for Your Business 
• 11:12 Unleashing the Power of Gross Profit Percentage 
• 13:28 The 20% Net Income Benchmark Revealed
• 15:12 The Importance of Understanding Your Financial Model

Resources:

• Book a meeting with us today:https://www.milliondollaryear.ca/strategy-session 
• Visit the Million Dollar Year Website: https://www.milliondollaryear.ca/ 
• Download The Wealthy Entrepreneur (digital book) for FREE: https://www.milliondollaryear.ca/wealthy-entrepreneur/opt-in 
• Like our Facebook Page at https://www.facebook.com/milliondollaryearprogram 
• Join The Wealthy Entrepreneur Community for FREE at https://www.facebook.com/groups/gauvreaucpa 

For more podcast episodes, subscribe to our Youtube Channel at https://www.youtube.com/@milliondollaryearprogram.

Let’s continue to work on becoming a Wealthy Entrepreneur!