Ep. 45 – Revenue Is Vanity, Profit Is Sanity

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Shownotes

In today’s episode, we are talking about why revenue equals vanity and profit actually equals sanity. We’re going to talk about some of the things that you can look at and tweak in your business to make sure that you are making that all-important revenue.

If you enjoy this episode, please subscribe, rate, and share the show – it would mean the world to us. There’s more to come and we’re looking forward to sharing how to sell more on your online store in our podcast.

 

Episode Highlights

  1. Revenue is vanity and profit is sanity [00:52]
    1. Revenue is the money that you’re making [01:38]
    2. Profit is revenue minus expenses [01:44]
  2. Work out what your profit margin is [06:02]
  3. Three percent is a good conversion rate for eCommerce [06:48]
  4. Do not buy Facebook fans or Instagram followers—quality over quantity [08:25]
  5. Aim for a 30% repeat purchase rate [10:25]
  6. Some things you can do to drive profit [12:50]
    1. Build your price rise campaigns into your marketing calendar [14:03]
  7. Every dollar of income you get should be split up into different buckets [17:15]

Links Mentioned

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Binge Listen

Ep. 48 – Growing and Selling a Business with Kate Causon from Wild Island Co

Ep. 48 – Growing and Selling a Business with Kate Causon from Wild Island Co

In today’s episode, Karyn talks with Kate Causon all about how she grew and then sold her business, Wild Island Co. Kate weighs in on the complications that her brand faced along its growth journey, her marketing strategy, and the challenge of finding work-life balance. She also offers advice to those who want to start their own fashion label or to sell their business.

Ep. 46 – Running a Business & a Family

Ep. 46 – Running a Business & a Family

In today’s episode, we talk about running a business and running a family—at the same time! We share some of the tips and strategies that we have found to be helpful along the way. So we hope you enjoy and feel free to share any that we haven’t included that you found helpful with us!