Joey and Kevin talk about the true definition of business profits, and what to do with your profitability. This episode is aimed at helping you not only understand what profit is, but also how it can be used as the centerpiece of growth in our business.

Kevin Salters is a former GM of multiple million dollar lawn care companies. He has led lawn care teams of up to 300 people, and been a part of selling companies to TruGreen and Brightview. He is the owner of Root Development LLC in Connecticut.

Joey Coberly is the owner of The Landscaping Bookkeeper, a bookkeeping firm that helps green industry professionals understand their numbers. Joey holds a bachelors degree in Business Management, and has a 10 year background in securities investing.

00:00 Introduction to Profit in Business

01:04 Understanding Profit: Definitions and Importance

02:47 Utilizing Profit: Marketing and Growth Strategies

05:54 The Role of Marketing in Profit Allocation

08:51 Profit Misconceptions and Scaling Challenges

11:32 The True Nature of Profit and Wealth Building

14:33 Capital Expenditures: Investing Wisely

17:22 Experience in Profit Allocation and Business Growth

24:26 Strategic Planning for Business Growth

25:34 Understanding Wealth Creation

27:24 The Importance of Ownership and Value

29:21 Navigating Debt in Business

33:03 Leveraging Assets for Financial Success

34:02 Investing Wisely: The Risks of Diversification

36:26 The Role of Passion in Business Decisions

38:24 The Value of Hard Work and Education

40:23 Using Debt Responsibly

46:48 Profit as Fuel for Growth

Schedule a 15-Min Consultation⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with The Landscaping Bookkeeper