Episode 117: How To Stop Your Business Going Bankrupt
Have you ever heard the phrase, “trim the sails”?
It’s one of the most important phrases in business.
It originates from sailing, where reducing weight and drag creates more speed.
In business it relates to trimming the fat off a business which has become too bloated to grow.
It’s too easy to grow quickly only to find yourself with a business which lacks systems.
Or one which has too many overheads.
Growing without “trimming the sails” is unsustainable.
It makes every extra dollar you earn exponentially harder to come by.
And puts you in a dangerous money situation.
So how do you trim the sails?
Well you need to know what you’re doing.
If you start chopping away at overheads, resources, staff etc. willy nilly you’re inevitably going to sink your ship.
What’s really required is the know-how on what areas are preventing you from growing further.
Phil & I have noticed more business owners wanting to learn how to trim the sails of their own business without making a hash of things.
WHAT YOU’LL GAIN FROM LISTENING TO TODAY’S PODCAST:
- Learn to spot inefficiencies & bloat in your business
- Learn where you can cut costs
- Be able to implement better systems that are specific to your business
LINKS MENTIONED IN THIS EPISODE:
- Book a FREE 15-minute call to learn what coaching could do for your business
- Join our FREE private community of trades business owners in our Facebook group
- Subscribe to our YouTube Channel
- Get a copy of the Profitable Tradie book
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