BUSINESS FINANCIAL LITERACY

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“The business is flourishing. We are turning over around about three and a half to 4 million, and making about one and a half million profit.”

When I first met Dan, my business was probably six months old. I was probably turning over in the region of £50-£60,000.  Today the business is flourishing. We are turning over around about three and a half to 4 million, and making about one and a half million profit.

The reason why I’m here today is because I needed what I described to somebody recently as a business Botox injection. And I find that Dan gives me the best Botox. I find that there are times when I need to come back to Dan’s space and get re-injected with fresh vision, fresh strategic input, and a little bit of a whip, in a sense, to bring myself back on track. Refresh my vision, do something special, and so I came here.

I’ve always opted for the Private Mastermind. I find that it’s the specific space I need to really focus on my business, my balance sheet, my P&L. Now, I know that different people need different things, but for me as a bigger business owner and somebody that cares about really getting that right, that PMM’s huge for me.

“We were taking a loss and we didn’t even realize it because we didn’t understand our finances…

 We’ve managed to increase our gross profit margin to 44%”

When we first started the business, we thought we were doing okay, but we didn’t really have a clue about business or finances. What was good? What was bad? And so it was a big eye-opener when we first joined Dan. One of the biggest things that Dan kind of drilled on us from the very beginning was finances and making sure that we had enough cash in the bank.

Before we started with Dan’s program it was just myself and my husband running the business, and no other staff. I can’t even remember what the revenue was, but revenue was quite low. We were making a negative 7% gross profit margin. We were taking a loss and we didn’t even realize it because we didn’t understand our finances. Now jumping forward five years we have five fully employed staff, four self-employed staff, and myself and my husband work about six hours a week. And in those five years, we’ve managed to increase our gross profit margin to 44%.