204 – Why having decent margins is important

July 18, 2019
Finance, Podcasts, Series

Part One – Why having decent margins is important

Series: Ethical sales delivering healthy margins
Guest: Jon Dale from Small Fish Business Coaching

Sales! They can make or break a business.

Whether we like sales or not, we are all in the business of sales. All of us are selling something. A product, a service, ourselves to other people and so on.

Over the years, I’ve seen and heard many ‘sales experts’ teach various sales methods and if I’m honest, the majority of them are cringe-worthy. The landscape of sales has changed significantly with the introduction of things like, flat rate selling and upfront pricing, however even with these seemingly more ‘transparent’ approaches, liberties can be taken.

In this series, we dive into three areas of ethical selling with the hope that you’ll be able to take what you learn and tweak it to make it your own.

If you’re interested in sales, you’ll want to listen to these.

TSS085 – More trust equals more sales – [LINK]
Selling like a $30 million company – Part 1 | Part 2
TSS067 – Selling to the right customers – [LINK]
TSS065 – Knowing your hourly rate – [LINK]

About this podcast, ‘Why having decent margins is important‘

Podcast Highlights:

03:44 – The ‘get three quotes’ frustration
08:30 – What’s taking chunks out of your margins?
12:14 – Know your costs, know your margins
20:16 – A clear avatar will help you cast a clear message
22:02 – Meaningful marketing
25:13 – How and why are you different?

In ‘Why having decent Margins Is Important’, Jon talks to us about the number one issue that lead trade businesses to fail. That being, not understanding costs, expenses and margins. So many companies are simply not charging enough money and it will eventually cripple them.

It was interesting to talk about how so many companies think they’re doing okay because there’s money in the bank, but they haven’t yet paid themselves a salary. Why does this happen so much?

If I’m honest, I only really started paying myself a regular salary ove the last few years, which coincided with the business taking off. As soon as I started doing that, I realised that I needed to really focus on my numbers and rally start to double down.

If you enjoyed this podcast and this series, please take 5 to leave us a review:

Also, because Jon is an absolute legend, he’s left behind this awesome resource for you to get hold of.

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