Pricing is a crucial element of your business strategy — one of the most critical decisions you’ll make in your business. Pricing is a balancing act between making a profit and being competitive in the market. Finding the sweet spot between the two can be challenging, but it's crucial for the success of your business. In this post, I'll show you how to optimize your pricing strategy to maximize your profits while also meeting the needs and expectations of your customers.

As an online business owner, you know that money matters. It's the lifeblood of your business, and without it, you won't survive for long. That's why you need to keep a close eye on your financial zone - the area of your business that deals with money. Managing the financial zone of your online business can be challenging, but it's essential to keep it healthy if you want your business to thrive. Here are 5 questions you need to ask yourself (and take action on when necessary) to make sure your financial zone stays on track:

At some point in your journey, the only way to grow and scale is to start to delegate some of the day-to-day tasks to someone else. If you’ve reached the point where you’re considering your first hire to help with the current workload, congratulations! To get you started on the right track, here are 8 steps you can take to prepare for your first hire.

Eventually, even the healthiest business might get stuck and have trouble reaching their revenue goals. Many business owners feel it might be sales or team that is the issue. However, if the back-end operations are not in order, that can cause the backslide. How tight a business’s operations are will drive that organization’s ability (or inability) to quickly scale.

When your operations aren’t in check, functions will feel sluggish and redundant and you start to notice frustration from team members. The more this happens, the slower your business will be to adjust, grow and scale.

I know that many of you, as business leaders, are overflowing with creative ideas for new offers. However, all these offers can prove difficult to manage without a clear and concise business strategy. Think about it: do you, the business leader, know how profitable each of your offers even are?

Did you know that building a growing business with scaling profit margins is like following a recipe? There are clear steps to follow to get a positive outcome, and with some adjusting and tweaking along the way, you can make it even better as you go.

If you are someone who just does not like cooking and manages to mess up even when following the recipe, the recipe for increasing business profit is one that anyone can follow — no prior experience needed.

Measuring profit is one of the most important deliverables I have when working as a strategic partner with business owners. Of course, profit is tied to revenue, but don’t blindly assume that more revenue means more profit; it goes much deeper than that.

I like to approach this from a strategic level. Before I even think about building a dashboard for a client, I want to be able to nail down what they want and need to see based on their business goals for the next 6 to 12 months.

Today, I'm going to tell you all about my 4-step framework for helping my clients track their profit.

I know in the online business world, we often hear the focus being on an arbitrary magic revenue number. However, the truth is that revenue alone is not telling the whole story. Remember, revenue is simply the income, the money coming into the business. What about the cost it takes to deliver the product/service you provide?

I have been in the backend of many businesses, and sure, their revenue number alone looks great, but once you add up the expenses (the cost of doing business), what is left over (the profit) can be a very small portion of the total revenue. This is why you must dive deeper into what your actual profits are for a given period, rather than just the income you made.

A lot of online business owners like to spend some time at the end of each quarter looking back and reflecting as well as making plans and setting goals for the next 90 days. It is a good time to pause and check-in and evaluate how you are meeting your goals.

When you start to analyze the previous quarter and decide on goals for the upcoming quarter, it is vital that you review your KPIs and metrics. Remember, friends, that data does not lie. You no longer have to guess or use your subjective feelings to know where you are at meeting your targets; simply analyze the data and the answer will be right in front of you.

A good hiring process will help you attract and retain high-quality team members who match your brand. With the right hiring and onboarding process in place, you will soon be able to recruit and hire the best candidates. Today, we are going to go over 5 ways you can prepare for your next hire much more easily and effectively.

Every business should be tracking important metrics; however, there is not a one-size-fits-all approach to follow. The metrics you should track depend completely on the strategic objectives for your business. I suggest mapping out the customer journey or user experience to determine where to start.

IT IS IMPORTANT that you keep track of each step of the experience or action you want the customer to take. This data becomes so vital when looking for opportunities for growth and improvement in your funnel. Measure, change your actions, and measure again.

The last quarter of the year is here, which is usually time to buckle down to hit those financial goals you set at the beginning of the year. Right?

Nope. In fact, finishing the year financially strong isn’t about hitting that big (arbitrary) number. Your profits are obviously an important metric, but your happiness and fulfillment are far more important.