Show Summary:

In this episode of the Grow My Accounting Practice podcast, Debbie Deknight, founder of Right Way Profits and Bookkeeping and a Profit First Master Certified Coach, dives deep into the true meaning of profitability and why it's more critical than most business owners realize. She starts by challenging the common perception of profitability as a mere number on a P&L statement. Debbie explains that profitability goes beyond accounting figures and impacts every facet of a business, from daily operations to long-term sustainability.

Debbie explores how low profitability can quietly undermine a business's future. She emphasizes the ripple effects profitability has on key stakeholders, including employees, clients, and even the owner's family. With thought-provoking insights, Debbie discusses why profitability is not just about survival but about thriving—especially for those planning to sell their business or pass it on to the next generation. She shares advice on how to evaluate and strengthen your profitability to create a business that can weather challenges and leave a lasting legacy.

Whether you're a business owner striving for financial clarity, an accountant advising clients, or an entrepreneur planning for the future, this episode is packed with valuable insights. Tune in to learn why profitability means more than just numbers—and how prioritizing it can transform your business and your life.

LinkedIn:https://www.linkedin.com/in/debbiedeknight/

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Corporate Partner:Cash Flow Mike - http://www.cashflowmike.com/

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