Dennis T.’s Post

The Revenue Obsession That’s Killing Your Business... People act like it’s the be-all and end-all of business success. But for service-based companies, this focus is not only misleading but dangerous. Let me tell you why. When I started my businesses, I was all about those big revenue numbers. I thought that the higher the revenue, the more successful I was. But after some tough lessons and partnering with Greg Forzani, I realized that focusing on margins was the key to real success. The Real Metrics That Matter Gross Margins: Understanding your gross margins helps you see the real profitability of each service you offer. It’s essential to know which services are worth your time and which aren’t. For example, you might have a high-revenue service that’s actually eating away at your profits due to high costs. Recognizing this allows you to pivot to more profitable services. Net Margins: Net margins give you the complete picture of your business health. High revenue with low net margins means you’re working hard but not smart. It’s like running on a treadmill—lots of effort, but you’re not getting anywhere. By focusing on net margins, you ensure that your hard work translates into real financial health for your business. Blended Margins: By analyzing blended margins, you can optimize your service mix and focus on the most profitable areas of your business. This means combining various services in a way that maximizes overall profitability. It’s about strategic balance—understanding how different services contribute to the bottom line and adjusting your focus accordingly. For service-based businesses, the path to success isn’t paved with high revenue figures. It’s built on solid margins. By focusing on margins, you ensure your business is profitable, sustainable, and less stressful to manage. This isn’t just a theory—it’s a proven strategy that I’ve seen work time and time again. Why This Matters to You Imagine waking up every day knowing your business is running smoothly, your profits are stable, and you have the freedom to spend quality time with your family. That’s the power of focusing on margins. It transforms your business from a constant struggle to a well-oiled machine that supports the life you want to live. I’ve helped hundreds of businesses shift their focus from revenue to margins and see remarkable improvements. These businesses not only increased their profitability but also achieved a better work-life balance. They went from feeling overwhelmed and stressed to confident and in control. Focus on What Matters. If you’re tired of the revenue rat race and ready to focus on margins, let’s talk. I’m here to help service-based business owners like you increase their net profit and reclaim their time. DM me "Let's Talk" and let's look at what's going on for you and the margins we need to fix. This isn’t about working harder—it’s about working smarter and making your business work for you. Talk to you soon, Dennis

Imagine this: You're sitting at at work, the sun is shining outside, and your family is enjoying a day at the park. But instead of joining them, you’re stuck on a job, stressed about money. Sound familiar? Here’s the truth: Cashflow is the lifeblood of your service-based business. Without it, even the best ideas can wither on the vine. I know this firsthand, having navigated the ups and downs of entrepreneurship since I was young. It’s a journey filled with challenges, but managing cashflow effectively can turn those challenges into stepping stones for growth. Let me take you back a few years. I was overwhelmed, juggling client demands and trying to keep up with expenses. I thought bringing in more clients would solve my problems. But guess what? It didn’t. I quickly learned that without a solid cashflow strategy, I was running in circles. Why is Cashflow Management Crucial? Stability: It allows you to weather unexpected storms. One late payment or sudden expense can throw your business off balance. Growth: A healthy cashflow lets you invest in opportunities—whether it’s hiring a team, purchasing new equipment, or expanding your services. Peace of Mind: Knowing you have enough cash to cover expenses means less stress and more time for family and the activities you love, like camping or fishing. Key Strategies for Effective Cashflow Management Forecasting: Predict your cash needs. Look at your income and expenses monthly. A simple spreadsheet can go a long way in visualizing your financial landscape. Invoicing: Set clear payment terms and send invoices promptly. Don’t hesitate to follow up on overdue payments—every dollar counts! Expense Tracking: Regularly review your expenses. Identify areas where you can cut costs without sacrificing quality. Build a Buffer: Aim to have a cash reserve. It acts as a safety net during lean times, giving you the freedom to make strategic decisions. The Bottom Line? Managing cashflow isn’t just about numbers; it’s about creating a foundation for your family’s future. It’s about working hard today so you can enjoy those precious moments with your loved ones tomorrow. If you’re feeling overwhelmed by cashflow issues or want to learn more about strategies that have helped hundreds of business owners like you, I’m here to help. Let’s connect! Comment below or send me a message. Together, we can turn your cashflow challenges into opportunities for growth and success. Your business deserves the best, and so does your family. Let’s make it happen! #Cashflow #BusinessGrowth #Entrepreneurship #FamilyFirst #DennisTaekema

#Business isn't a marathon. It is a series of short, powerful sprints. It is more in line with how the human body was designed. Moreprofit.business

Look at your goals. Seriously, look at them. If they aren't accomplished yet or you are not on your way to accomplishing them, do you really want them? I mean deep down, cause if you don't you will NEVER get there.

Value vs Price vs Cost. They are three unique and different things. Knowing how they differ matters, especially in conversation with prospects, staff and clients. moreprofit.business

- Become a leader today - How to be a leader? - The world needs more leaders not bosses.  - Are you ready to lead? www.moreprofit.business