Hey, it's the Profit Mastery team.
Quick question before you read anything else. What does "winning" look like for your business?
More revenue? More time off? A big check when you sell? Handing the keys to your kids?
There's no wrong answer. But if you don't know yours, it's hard to tell whether you're on track…
THIS WEEK'S ARTICLE
The 4 business owner archetypes
This one wraps up the planning phase of the financial operating system. So far, you've:
Created a business overview that describes your business in narrative form
Completed the financial situation checklist to find which tools will have the highest impact right now
Time for some number crunching, right?
Not quite…
Both of those exercises look in the rearview mirror. This one points you at the future.
Picture two owners running identical repair shops. Same revenue, same profit, same headcount, same debt. One feels like he's crushing it. The other feels like a stressed-out failure.
How could that be? Give it a read and find out…
WORTH A LOOK
A few finds from this week
Planning Your Exit
40% of owners plan to retire within 10 years. Only 8% say they're fully prepared to hand off the business, and 70% are in early-stage planning or have no formal succession plan. (Chase)
Different Owners, Different Goals
Asked about the next five years, 44% of owners plan to grow, 30% plan to hold steady, 14% plan to sell or transfer, and 8% plan to close. Same question, very different answers. (Gallup)
ICYMI
The financial situation checklist: a quick way to find where to start. (Last week's newsletter)
UPCOMING
What's on the calendar
Price for Profit, Not Just to Win the Job
Friday, October 16, 10:00 to 11:00am ET (virtual)
Free for members; $39 for non-members
THAT'S A WRAP
That's the planning phase, done. If you've followed along, you now know what your business does, where it stands financially, and (after this week) where you want it to go.
Not bad for three short reads.
Thanks,
The Profit Mastery Team
Know your numbers. Command your cash. Scale with confidence.
This newsletter is for education, not personalized financial or investment advice.