Susanne Mariga | From Revenue to Real Profit: Mastering Financial Success
Episode Summary
In this episode of Women Choosing Growth, Host Tina Sue sits down with Susanne Mariga, author and Profit First Professional, to discuss how entrepreneurs can strategically prioritize profitability to create healthier, more sustainable businesses. Susanne shares her journey from being an entrepreneur to becoming a leader in profitability strategies, diving into actionable steps for implementing the Profit First methodology. This conversation offers game-changing insights for business owners ready to take control of their finances and scale with purpose.
Key Topics Covered
- Susanne’s personal journey to profitability and her inspiration for writing Profit First for Minority Business Enterprises.
- Why profitability is essential to better serve your mission, team, and clients.
- The concept and application of the Profit First methodology, including:
- Setting up intentional bank accounts (profit, owner’s pay, taxes, and operating expenses).
- Using percentages to allocate revenue strategically.
- Overcoming Parkinson’s Law and creating “illusions of scarcity” for better financial discipline.
- Tax strategies for entrepreneurs to balance savings and reinvestment.
- Adjusting profitability goals as your business grows.
- Giving back through intentional financial planning and contributions.
Actionable Takeaways
- Start Small: Open separate bank accounts and begin with just a 1% profit allocation to shift your financial focus.
- Leverage Profit First: Use Susanne’s proven system to ensure profitability from day one and avoid financial pitfalls.
- Plan for Taxes: Allocate funds for taxes quarterly to avoid scrambling at the end of the year.
- Create a Vault Account: Build up three to six months of operating expenses to prepare for economic downturns or emergencies.
- Regular Adjustments: Revisit your percentages quarterly to reflect business growth and financial goals.
- Think Long-Term: Invest intentionally in business growth and personal wealth without unnecessary spending for tax deductions.
Notable Quotes
- “A profitable business is a healthy business, and it allows you to serve your clients and community even better.” – Susanne Mariga
- “Profitability isn’t greed—it’s sustainability for your mission and your team.” – Tina Moser
- “If you keep adding revenue without fixing your margins, you’re just compounding losses.” – Susanne Mariga
- “Don’t wait for January to start Profit First. Start today—even if it’s just 1%.” – Susanne Mariga
Connect with Susanne Mariga
- Book: Profit First for Minority Business Enterprises (A portion of each sale funds education for girls in Zimbabwe.)
- Podcast: The Profit Talk: Entrepreneurship With A Profit First Spin
- Website: ProfitMap.co for recommended percentages and additional resources.
- Social Media: LinkedIn, Instagram, Website.
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