The Money Advantage Podcast

Profit Maximization: Find and Fix Your Money Leaks


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https://www.youtube.com/watch?v=T4j_gEU3Wto
The best profit maximization strategies are the ones nobody’s talking about.  Why?  Because everyone is looking for the hardest, most challenging, and over-complicated techniques.  Maybe it’s our human tendency to believe that everything worthwhile has to be difficult. Or perhaps, we like the bragging rights we get after surviving the most grueling, tortuous feats. Like cutting all carbs, sugar, and flavor for seven years with no cheat days. Or making getting fit as hard as running the Boston Marathon.
When it comes to your money, you’re working hard to make it in the first place.  You’re balancing enjoying life today with making sure tomorrow is secure, and taking care of your future needs, like cars, college, weddings, vacations, and personal income.  As most people do their best to cover all the bases, they usually fall into one of three self-defeating traps.
Table of contentsThe Three Profit Maximization TrapsProfit Maximization Is Easier Than You ThinkWhere Profit Maximization Fits into the Cash Flow SystemWhat Is A Money Leak?Money Leak SymptomsThe Eight Profit Maximization Keys to Find and Fix Money Leaks#1) Cash Flow Awareness#2) TaxesStrategies to Minimize Taxes#3) Debt#4) Savings and Investments#5) Protections#6) Efficiency#7) Abundance perspective#8) Prioritize ProfitProfit Maximization Isn't HardGet The Top 3 Money Finder StrategiesYour Next Step to Profit Maximization
The Three Profit Maximization Traps
The first trap is trying to work harder to make more money.  But this quickly turns into a rat race to stay ahead.  Often lifestyle expenses creep up along with income, and they wake up to realize they’re using up the same portion of a bigger pie. This frantic, unsustainable pace of outworking your spending can lead to burnout.
The second trap is feeling the need to take on more risk to grow money faster.  But high risk doesn’t equal high returns.  It really means a greater potential for loss. Following this path can wind up causing you to lose money and end up back at square one, empty-handed.
The third trap that lures and then confounds even the most financially disciplined is cutting back.  They try to live on less, but end up chasing pennies while stepping over dollars in the process.  The scarcity mindset has them hog-tied, limiting the good they can do. They end up feeling miserable and hating life.
Profit Maximization Is Easier Than You Think
Instead of falling into those traps, thankfully, the keys to profit maximization are more like finding out that to be the healthiest and most fit, you can eat, drink, sleep, and exercise however much or as little as you want.  Well, almost that easy.  (And, of course, health doesn’t work that way.)
The best-kept secret to profit maximization is that keeping more of your money can be effortless and painless.  You just have to know what most people don’t: how to find and fix your money leaks.
That’s why it’s our mission to help business owners increase profits by doing just that. 
We’ll help you avoid the self-defeating traps that will have you burned out, losing money, and hating life. 
Instead, we’ll show you the most common money leaks and how they siphon away your cash flow.  You’ll quickly see how to make strategic changes to maximize profit in your business. And you'll see how to apply these strategies to your personal finances as well.  Then, you’ll be able to maximize your profit and keep more of the money you make.
Where Profit Maximization Fits into the Cash Flow System
Maximizing your profit, so more of the money you make is yours to keep, is just one part of a bigger journey to building time and money freedom.  You could be making a great income, but still, be missing key components of creating a sustainable lifetime of wealth. 
No matter how big your business grows and how much money you make, if it’s all leaking out between your fingers,
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The Money Advantage PodcastBy Bruce Wehner & Rachel Marshall

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