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