6-figure business

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7 Steps to Making a Profit First Instant Assessment

The traditional way of accounting for profit is using the formula: sales – expenses = profit. Mike Michalowicz, the author of First Profit, introduced a new method, which flips this method of thinking. It uses the formula: sales – profit = expenses. One of the tools he gives is the Profit First Instant Assessment which …

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Profit First for UK Online Businesses

You may think that running an online business is a lot easier than managing a physical store. However, a lot is going on behind a virtual or digital operation. Even when you don’t retail physical goods but rather sell digital services, you might still find yourself stuck with the question: I know I’m earning a …

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How to Create Profit Like Jeff Bezos: Three Things to Do Today

In an unprecedented surge of revenue during the Coronavirus crisis last year, Amazon owner Jeff Bezos is now gaining more attention and attracting more followers. Following the 2020 Q1 release of the retail giant’s earnings, Bezos said in a statement that even with at least 30% revenue increase across all brands, investors should not expect …

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How to Legally Take Money Out of Your Limited Company?

It is so easy to think that, just because you have your own business, you can have access to your business’s money anytime you want and need to. One of the most common concerns small business owners have is how they can take out money from the business since they practically own and run the …

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Eleven Profitable Business Strategies You Can Consider

Well-planned business strategies are important for an entrepreneur to ensure success and profitability. They act as roadmaps to your business goals so long as they are effectively executed. Here are profitable business strategies. Profitable Business Strategies for 2021 Like all strategies, you need to take into consideration the many factors that are affecting the market, …

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7 Steps to Making a Profit First Instant Assessment with VAT

In the book Profit First, Mike Michalowicz innovates the way cash flow is looked at by turning the traditional formula of sales – expenses = profit into sales – profit = expenses. This simple change reframes the thinking of individuals when it comes to spending habits. Michalowicz also introduces the Profit First Instant Assessment, which …

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How to Sell in Economic Crisis

So many efforts have been put forth to stave off the economic effects of the coronavirus pandemic lockdown. The government has been increasing business and employment grants. The Bank of England has already injected 100 billion pounds to the UK economy in hopes that quantitative easing would help markets whirl and churn. Even private organisations and non-profits have banded together to help …

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Does Your Business Have Money Leaks?

A money leak means money that goes out of the business that is unnecessary. While these spendings may seem small and insignificant, once they add up, the amount of money spent is actually significant. This step by step guide may help a business owner systematically eliminate money leaks. How to Identify Money Leaks 1. Pull out all the …

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Before You Declare Your Business A Failure

Are you feeling frustrated because you are not generating enough income? Or maybe, you are wondering why a 6-figure business like yours is still not earning you enough money to take home for the family? Before you throw in the towel and decide that your business is a failure, hear this out. Is Your Business …

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Cut business costs – How to stop money leaking out your business

JOIN ME INSIDE THE UNCOVER WEALTH COMMUNITY – MY PRIVATE (FREE!) FACEBOOK GROUP FOR BUSINESS OWNERS AND ENTREPRENEURS Cut business costs – how to stop money leaking out your business First off, you know you have a money leak in your business when if feels like you’re getting the money from your sales and it …

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