(Guidance to Wealth) The Millionaire path- PROFIT FIRST - BOTTOMLINE - Raj Kapur

Raj Kapur - "Guidance to Wealth" - The Millionaire path

CLARITY ON YOUR BUSINESS - THE WHY, WHO TO WORK WITH

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​Show Objectives 
Why profit first? I have many friends, colleagues, clients who are always thinking in terms of growing their small businesses, now nothing wrong with that, but they many times ignore the bottomline i.e. the profits. Their belief is the larger we grow, the faster we grow the profits will come in. 

I am of the belief  that you need to set your target of profit first and once you have reached that target then yes go for expansion. 

Pay Yourself First
It might seem counter-intuitive, but if you are investing in your business, make sure to take some of the stress away from yourself. Paying yourself has the dual benefit of freeing up your mind space and helping you realize what the real cash-flow target of your business needs to be.

What is the profit first method?
Profit First Method is an acronym for four simple steps:
1. Set up goals
2. Track sales
3. Calculate costs
4. Make adjustments

Is Profitability or Growth More Important for a Business?

To be successful and remain in business, both profitability and growth are important and necessary for a company to survive and remain attractive to investors and analysts. Profitability is, of course, critical to a company's existence, but growth is crucial to long-term survival. So think in those terms. 

Cash Flow
“Cash Flow or what is commonly referred to as Working Capital is the heart of any business,” “Without it a business cannot survive.  Many small business owners make the mistake of spending without consideration for the future. For example, buying excess inventory that ties up cash in inventory versus having it readily available to meet short and long term obligations of the business.”

The old saying that ‘cash is king' is never more accurate than when dealing with a small business.

Good cash-flow management, in simple terms, means understanding every inflow and outflow of cash, and not putting this function out.

THINGS TO LOOK OUT FOR

• Unanticipated expenses and emergencies 
• Marketing Expenses exceed sales In the early days of a new business
• Late payments can cause major cash flow disruptions 
• Faster Growth in the company than anticipated 

BUDGETING
How a budget can help:

• It helps reveal wasteful spending
• It can reduce stress
• It helps control spending
• It is essential to your wealth blueprint 

WHAT YOU NEED TO DO

• Spend Slow and have it paced out
• Outsource to Save on Hiring Costs
• Offer Small Discounts to Those Who Pay Early
• Negotiate Terms - both on Receivables and Payables
• Know Your Burn Rate
• Ask Customers to Pay Upfront
• Use a Charge Card
• Negotiate Everything
  

RAJ KAPUR - EXECUTIVE & SUCCESS COACH
Coach | Mentor | Speaker | Non-Profit Expert | Published Author |
Radio Show Host 

As an Executive/Leadership Coach Raj believes in building World Class “Super Leaders,” One Executive at a time.

Raj is the founder and CEO of Options Ahead, Inc. With his program “Guidance to Wealth - The Millionaire Path” he helps Coaches live their dream life by resolving their financial stress without just needing to make more money.

Raj leverages his 30 years of experience & success to help coaches & trainers on how to grow from 5 to 7 figures. He helps them find their niche, market, clientele, capitalize on their strengths and help empower them to grow their business & monetize it. 

Raj is an Award-winning, C-suite leader and certified executive and leadership coach who has built, developed, and led large, globally competitive teams, provided transformational coaching to maximize productivity, improve staff morale, and inculcate powerful leadership skills — experience in for-profit and non-profit sectors. He leveraged leadership skills to transform struggling companies.

With over 30+ years’ experience and leadership wisdom backed by a toolkit of the world’s best leadership resources and cutting-edge techniques and ideas, Raj has leveraged proven leadership methods to develop super leaders that transformed not only themselves and their teams but also the entire organization at various levels.

Raj has led extensive workshops, seminars, coaching sessions, mastermind sessions, keynote engagements, and group and one-on-one coaching sessions. He has coached thousands of individuals during his career, created powerful instructional programs and courses. He has developed financial leadership programs, introduced leadership training, and Mastermind sessions at various organizations designed, developed, and led workshops on leadership, communication, and productivity across the country.

His corporate experience includes a background in managing budgets exceeding tens of millions of dollars, turning around companies, maximizing profits, and catapulting business success while working with CEO/board of directors.

Raj Kapur is an Executive Director with The John Maxwell Company. He is a Certified Coach, Teacher, Trainer, and Speaker, a certified DISC Trainer, and a published author.

Written by: Raj Kapur
www.RajKapur.com
http://www.millionaire-path.com/  | http://www.nonprofitedge.org/

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