This is one of the most common gaps business owners face when they are struggling to increase profit. In today’s episode, we dive deep into an often-overlooked strategy for business profitability:
Monetizing every role in your company.
Many business owners fall into the trap of hiring without a profitability plan, leading to unnecessary financial strain. We’ll discuss how to ensure every role contributes to the bottom line, how to avoid the “see-saw effect” of back-end expenses outweighing front-end investment, and how to build a debt-free, scalable business.
If you’re ready to turn every hire into a profit center for your business, this episode is for you!
Key Takeaways:
Every role in your company should have a profitability plan.
The "see-saw effect" of heavy back-end expenses with little front-end investment can lead to burnout and unsustainable business growth.
Business owners should aim for a debt-free model to maintain financial freedom and control.
Monetization isn’t just about sales – finance, operations, marketing, and client services all play a role in profitability.
Your finance team is crucial in reducing lost revenue from missed payments, defaults, and renewals.
Operations should streamline sales and marketing efforts, optimize vendor management, and cut non-essential expenses.
Marketing must align with sales to generate quality leads and accelerate conversion.
Sales is not just about new customers – referrals, renewals, reactivations, and upsells should be a primary focus.
Client services should have a sales metric, as they naturally interact with customers and can drive significant revenue.
Timestamps:
0:33 – The importance of monetizing every role in your business.
1:11 – Why every role is either contributing to profitability or detracting from it.
2:08 – The impact of rising business expenses and why strategic hiring is essential.
3:20 – Avoiding the “see-saw effect” of back-end expenses outweighing front-end investment.
4:49 – How to ensure your team members contribute to the bottom line.
6:05 – The difference between hiring profit-aware employees vs. non-profit-aware employees.
9:19 – The financial role: Capturing missed payments, renewals, and reducing revenue loss.
11:40 – The operations role: Supporting sales and marketing, optimizing vendors, and reducing costs.
13:18 – The marketing role: Expanding brand reach and ensuring quality leads.
13:58 – The sales role: Managing new sales, referrals, renewals, and upsells.
15:21 – The client services role: Why they should also have a sales metric.
Resources & Links:
Follow Kelly on Instagram: https://www.instagram.com/kellyroachofficial/
Bigger Than You Audiobook: https://www.audible.com/pd/Bigger-Than-You-Audiobook/B0DMR2FB2P?source_code=ASSGB149080119000H&share_location=pdp
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The Kelly Roach Show is your business podcast that gives you quick, actionable trainings for business growth, sales growth, and leadership. Kelly teaches about the entrepreneurial mindset and how to leverage building an unstoppable team with high performance strategies for rapid and sustainable business growth.