For the longest time, we were concerned about our future and thought we could improve our results on our own. Then we realized that we needed help. Since working with Profitable Wisdom, we enjoy working on our business again and feel a sense of peace and calm about our future. Profitable Wisdom has helped us to increase profits, grow our personal savings and plan a transition that is right for us.
~ Jo Anne & Bill Leyburne
Questions & Answers
A business owner once told me that she asked her Accountant how to increase business’ profits. The accountant replied: “Increase revenue.” Many business owners believe that you must increase sales and revenue to make more money. However, there are many other ways to improve profitability.
A better way to increase profits is to increase profit margins…
Despite the absolute certainty that every business owner is going to leave his or her business at some point in time, either voluntarily or otherwise, less that 10% of owners have a written transition or succession plan for leaving their business. The above graph shows the many reasons why they haven’t planned yet, with the far majority saying that it is “too early”. Even with Business Owners in the 60+ age range, a third of them say that it is too early.