Identify Profit Drains (the Black Hole) In Your Business

Find the Profit Drains Lurking in your Day-to-Day Operations

Most business owners know they need to make a profit, pay taxes and protect their assets. But, there are hundreds of profit drains lurking in your day-to-day operations that could be plugged up – and that adds profit to your bottom line!

From your podcast equipment to how you title your assets to common misconceptions about the timing of protecting your IP, these small profit drains can add up fast!

On Amplify Your Success Podcast episode 293, I talk with Amy Rose Herrick, a small business profit-building specialist, about small changes to make that will boost profits in your business.

Join us in the Amplify Your Authority FREE Facebook Group to learn more strategies to stop being a best-kept secret and stand out as an industry go-to authority.

Key Takeaways

  • [5:17] The profit black holes that negatively impact entrepreneurs.
  • [7:21] The 1% rule and how to use it to evaluate your financial profits.
  • [7:39] The Rule of 10 for property owners.
  • [11:54] How the multiplier effect plays out over the long-term effect on your business investments.
  • [14:32] The best way to plan for unplannable business interruptions that could shut down earning capability.
  • [21:17] What the cost-effective Trifecta approach is for domain trademarks and logo design.
  • [24:32] Amy discusses the best way to title your assets so you don’t waste time or money.
  • [27:02] What depreciating assets are and how to apply this to your podcast (Hint: you are probably doing this backward, Amy says.)
On Amplify Your Success #Podcast, identify the black hole profit drains in Your Business with Amy Rose Herrick Share on X

About the Guest:

Amy Rose Herrick, is “America’s Profit Building Specialist.” She trains Entrepreneurs, or their staff, worldwide, in as little as 15 minutes how to build bigger bottom lines, saving them time, and money. She is positively impacting generations of family wealth with her talents.

Amy also excels at helping US business owners structure the sale of appreciated assets to reduce capital gains taxes, or eliminate the capital gains taxes entirely.

On a more personal note, she is the author of several books with the most recent being the inspiring, faith-building #1 Best Seller “Pack Faith First, Suitcases Second: A decade of miracles after 50”. She will be releasing 11 more books by the end of 2022.

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