How to Create A Profitable Creative Business

How to Create A Profitable Creative Business

Charlie Bradley Ross Monday, 2 January 2023

Whether you're a one-person band or managing a team of ten, it can be easy to lose sight of your finances with the day-to-day juggle of running a business. Research from the JPMorgan Chase Institute found that many small businesses exist month to month, and the average small company has only enough cash saved to last 27 days. Small and medium-sized businesses don't have the deep pockets that large enterprises do, which is why even short-term cash flow problems can sink an otherwise successful business.

Inspired by Mike Michalowicz's book, "Profit First", this lesson is about getting a handle on your business's finances. With cash in the bank and, most importantly, a company generating PROFIT, year on year.

In this lesson, you'll leave with a financial structure and system to build and grow a healthy, profitable business. It's suitable if you have not yet started your business or are years in. If your business is facing financial strains, this will be a fast way to identify what the issues are so that you can fix them. 

In this video, you'll learn:

  • the principles of Mike Michalowicz's book Profit First
  • some common financial pitfalls of small businesses 
  • how to apply the principles to your own business 
  • about Parkinson's Law and what it means for business owners 
  • how to conduct an instant assessment of your business and put profit first 

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