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3. Choose Wisely: The Revenue or Profit Game
Manage episode 426645229 series 3555569
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In this episode of the KBB Unstoppable Business Owner podcast, Kevin D Bannister delves into the distinction between focusing on revenue and prioritising profit, terming it 'the revenue or profit game.' He illustrates how businesses often get caught up in the excitement of increasing sales and fail to focus on the actual profits, leading to a cycle of overspending without sustainable growth.
Through examples like Victoria Plum, Kevin discusses the pitfalls of aiming for top-line growth at the expense of profitability, including the dangers of vanity metrics and the importance of understanding underlying financials. He offers a three-step approach to pivot towards playing the 'profit game,' emphasising mastering numbers beyond sales, aligning sales processes with profitability, and scaling smartly. Kevin concludes by underscoring that revenue is a lagging indicator, whereas profit is a leading one, urging businesses to prioritise sustainability over fleeting growth.
The KBB Unstoppable Business Owner podcast is sponsored by KBN - Kitchens & Bathrooms News THE business magazine for kitchen and bathroom professionals.
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