Hello, hello, and welcome back to Behind the Design Podcast. In this episode, I discuss the strategies to make more money in 2024. I’m your host, Olivia Austin, and I’m so excited to chat with you today!
The title of this podcast episode may seem gimmicky, but it’s true. If you want to make more money in 2024, you need to focus on profitability. In the world of entrepreneurship, it’s easy to get caught up in revenue numbers, but true success lies in your profitability. I share my own experience of running an agency and how we became more profitable by making smart decisions. By trimming unnecessary expenses and focusing on profitability, we were able to increase our profitability by 60 to 70% and learned the importance of knowing our numbers and making value-driven decisions.
In this episode, I dive into the key metrics you need to follow for financial success. Some key takeaways of the episode:
- What no one talks about – profitability is the most important metric over revenue
- The crucial numbers to know for business growth, and how to keep track of them even if you’re “not a numbers person”.
- How to conduct a financial health check by reviewing your best/worst months and projects and how this helps make critical growth decisions in your business.
- What it looks like to trim the fat by cutting unnecessary expenses and increasing your pricing.
To listen to the full episode and learn more, be sure to check out Behind the Design Podcast. And don’t forget to visit my template shop at boliviaaustin.com/shop where you can find the Business Design Studio Business Blueprint, a tool that will help you plan and make smart decisions for your business. Use code BTD10 for 10% off!
Thank you for listening! Stay tuned for more valuable episodes that will guide you on your entrepreneurial journey.
