June 27, 2022

53. The Money Challenge- Test How Well You Know Your Money!

10 minutes

How much does your business bring in on avg? (better yet what is the worst month you have?)

How much does your business spend on avg (better yet look for the most expensive month you have had in spending)

this gives you an indication of where you are in profitability while providing a cushion for better months.

You should know the following at all times!

How much are your operation expenses total monthly/annually (everything except payroll) to keep your business running you need this at a minimum?

How much do you spend on payroll monthly? How profitable is each person on your team?

How much does your marketing cost you? how long does it take to break even on that cost and ROI?

What are your closing ratio numbers and how does that affect your business revenue?

How much revenue have you grown in the last year compared to the previous? is this sustainable and how can you use this information to predict yr over yr growth?

You should be able to make projections for the next year at a minimum.

How to Calculate Payroll Costs For a Profitable Agency- https://www.youtube.com/watch?v=LOKUg9bVBes&t=142

Check Out The 15 Min Biz Quiz mentioned in the episode to learn what you need to fix next in your business!

Let's BE FRIENDS UYB FB COMMUNITY: check out the awesome people in the tribe @femaleinsuranceagencyowners

UYB INSTAGRAM: Come check out some awesome resources @unburden_your_business

AGENCY BY DESIGN: If you're ready to take your business from stressed-out/maxed out to a money-making machine, come check out Agency By Design! https://www.unburdenyourbusiness.com/signup

FACEBOOK GROUP: Come join our Facebook group. A safe space for Female Insurance Agency Owners to connect.https://www.facebook.com/groups/femaleinsuranceagencyowners

Friend, make sure to say hi in the DMs I am all about getting to know more about you! So glad you’re here, Cassidy

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By Cassidy Arbeli

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