In this episode of The Profit Plot, host Jeremy Millar uncovers the timeless wisdom of Michael E. Gerber's "The E-Myth Revisited." Discover why many small businesses fail despite their owners' technical skills and learn practical strategies to transform your business from a chaotic operation to a well-oiled machine. 

Through the story of Sarah, a passionate baker turned overwhelmed business owner, Jeremy explores the critical roles of the Technician, Manager, and Entrepreneur. Find out how to create systems and processes that allow your business to run smoothly, grow sustainably, and give you the freedom to focus on what truly matters. Tune in to unlock the secrets of building a profitable, scalable enterprise!

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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Your business performs exactly as it's designed. In this episode of the Profit Plot, Jeremy highlights the importance of intentionally designing business systems. He discusses common pitfalls small business owners face, such as neglecting crucial aspects like marketing, hiring, and financial management. Tune in to learn how to analyze and adjust your business systems to achieve better outcomes and align with your goals. Don't miss out on actionable insights to transform your business into a well-oiled machine!

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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How does pricing affect your business? Dive into the fascinating world of price elasticity of demand with The Profit Plot. Together, we unravel the mysteries behind successful pricing strategies, drawing parallels between the elasticity of childhood rubber bands and the demands of today's market.

Join Jeremy Millar on a transformative journey, learning how to craft a resilient brand that resonates with customers, converting commodities to essentials. We delve into the secrets of mastering market fluctuations, paving the way for a thriving business. Subscribe to The Profit Plot and step into a community driven by shared knowledge and collaborative growth, one insightful episode at a time.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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Scaling your business can be both an exciting and daunting process. How do you foster substantial growth without exponentially increasing resources? How do you determine the right size and pace for your business growth? The concept of "economies of scale" might hold the answers you seek.

Dive deep with host Jeremy Millar as he unpacks the buzzword "economy of scale" and delineates how it can be a game-changer in your business growth journey. This episode delves into the nuances of increasing production wisely to lower unit costs, illustrated with vivid examples from both the manufacturing and service sectors. But beware, rapid scaling is a double-edged sword that comes with its potential pitfalls. Join us as we explore how to grow not just bigger, but smarter, turning every dollar invested into multiple dollars of value. It's time to strategize your next smart move in scaling your business efficiently.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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How do you improve a struggling business or grow an already successful one? There are so many ways to track your business's performance, but how do you know what's the right way? You need to measure and manage the right data points using the right method. 

Explore the often-misunderstood mantra, "What gets measured gets managed," and discover its potential pitfalls. Host Jeremy Millar reveals three crucial financial metrics—Current Ratio, Gross Profit Margin, and Return on Investment—that every business owner should understand but use judiciously. These metrics aren't just numbers; they're stories that can guide or mislead the health of your business.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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How much money should stay in your business bank account? Creating a financial safety net is essential for small business owners. Keeping enough in the bank can allow your business to weather any storm.

In this episode of The Profit Plot, Jeremy Millar explores the importance of emergency funds and strategic budgeting for businesses. We'll look at how to determine the right amount of cash to keep on hand for covering operating expenses and seizing growth opportunities. Drawing from recent studies and real-world insights, Jeremy emphasizes the value of disciplined planning and understanding your financial landscape.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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Debt - it's a word that can strike fear into the hearts of many. Whether it's a necessary evil or a strategic asset is a topic of endless debate among business owners. What if understanding debt could be the key to unlocking growth and prosperity in your business?

In this episode of The Profit Plot, host Jeremy Millar dives deep into the world of debt. From its roots as a promise to its modern role in the global banking system, debt is an integral part of our financial fabric. It's not just about borrowing money; it's about leveraging resources to achieve growth and success. Uncover the nuanced nature of debt, its potential risks and rewards, and navigate its complex role in business financing.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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Entrepreneurship is an exhilarating journey. It allows you to tap into your unique skills and turn your passion into a profitable venture. But what happens when you realize that your business solely depends on you? How do you transition from being a high-performing individual to leading a sustainable business that can operate independently?

In this episode of The Profit Plot, host Jeremy Millar explores how to transition from a business that is an extension of you to a sustainable enterprise that can operate independently. Uncover common pitfalls of high performers, like creating a job rather than a business, and find actionable tips on redefining business processes, strategic hiring, and financial forecasting. Discover how to evolve your entrepreneurial venture into a sustainable business without your constant input.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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Data is one of the most sought-after resources in the world right now. Protecting, interpreting, and gathering it helps companies make billions of dollars. What if you could leverage your own financial data to understand your business, resulting in a deeper understanding than ever before?

In this episode of the Profit Plot, host Jeremy Millar discusses how our world rapidly transformed into a data goldmine. From the history of application programming interfaces to the future of open banking, data is all around us and is only becoming more and more accessible through financial technology. By harnessing your data, you can unlock your financial story and confidently grow your business.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

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Trying to predict sales figures for small business owners is like trying to build a time-traveling DeLorean. Sales numbers are one of the hardest components of a business's financial story to accurately predict! There are so many factors that can cause sales to fluctuate and many of them are out of your control completely.

But there's hope: a strategy known to the most savvy of business owners that can help you peel back the fabric of the universe and predict what your sales are going to be.

In this episode of the Profit Plot, host Jeremy Millar walks through three steps for accurately forecasting revenue for small business owners. By unpacking your own personal expectations about forecasting sales, diving into your financial history and reading it like a book, and focusing on internal factors, you can set more accurate sales goals and hit them every time.

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🖥️ Trying to understand business finance by yourself? Check out the free Financial Storytelling course here: https://www.amarlo.co/tell-your-story

📧 Want more episodes of the Profit Plot sent to your inbox? Sign up for our free newsletter: https://view.flodesk.com/pages/647fb5f380b41008f5634f46