How to PROFIT $1,000,000 In Your Business

“Profit is how we keep score in business.”  Dr. Darnyelle Jervey Harmon

For the record, it is a big deal to generate $1,000,000 or more in revenue in your business. If you have accomplished this, you should be very grateful and proud of your accomplishment.  You are a belief barrier breaker.  But let’s be clear, the goal is not topline revenue success, it’s bottom-line revenue profit.

While there are 4.2% of US based small businesses that generate 7 figures or more each year according to several sources, we have no real idea what percentage profit 7 figures or more. I do believe it’s safe to say that if only 4.2% are generating topline revenue at this level, considerably less are profiting at this level. And let’s not forget that the statistics for women-owned, black-owned and black-women owned are considerably less at 1.9%, .9% and .5% respectively, so you can see why an episode like this is a disruptor.

In this episode, I share the formula that we have personally used to profit $1,000,000 for the last few years in our business.  Now, I have to be honest; to pull this off, it’s going to take some serious understanding of your numbers – i.e. your pricing and expenses and how much you can actually set aside as profit at the transaction or programmatic level.  Sadly, most entrepreneurs aren’t at a place where this is even a remote possibility for them.  In our PROXIMITY, a Move to Millions Mastermind, we equip our clients to scale to and sustain a business that generates 7 figures a year and profits 7 figures in 1-3 years.   That’s right; it’s going to take some time and clear systems and infrastructure to achieve this, but it is entirely possible.

I recommend that you listen in to this episode from your vision point and not your vantage point so that you can hear what’s possible for your business too. It’s the perfect time to be thinking at this level because you should be starting to work on your 2025 strategic plan for your business.

Profit is how we keep score in business so grab your Move to Millions Podcast notebook and listen in to discover:

• What needs to be true in order to position your company to profit $1M+ a year
• The level of financial acumen and understanding required to set a goal to increase your company profits to 7 figures
• The minimum profit threshold for your programs and offers
• How to price your programs and services
• The mindset required to focus on profit
• And so much more

Powerful Quotes During the Episode:

• “Spending every dime you make, means you have a hobby, not a viable, profitable business”
• "You cannot have a booming business when you have a busted life."
• "The best way to be the change is to get this business to the million-dollar mark."
• "Profit is how we keep score; you don't even really have a business according to the IRS if it doesn't make profit."
• "It's going to be hard to leave millions if you're spending every dime that comes into your business."
• "We want to get away from the days where you have to work for your money, where you have to toil for your labor. That's an employee mindset. An entrepreneur's mindset is one that says, my money is working for me."

 

Want more of Darnyelle?

Social Media Links:

• http://www.instagram.com/darnyellejerveyharmon
• http://www.facebook.com/darnyellejerveyharmon
• http://www.twitter.com/darnyellejervey
• http://www.linkedin.com/in/darnyellejerveyharmon

 Links Mentioned in the Episode:

• com
• com
• com
• Move to Millions Continuum Episode

Subscribe to the Move to Millions Podcast:

Listen on iTunes

Listen on Google Play

Listen on Stitcher

Listen on iHeartRadio

Listen on Pandora

Leave us a review

 

Are you subscribed to my podcast? If you’re not, I want to encourage you to do that today. I don’t want you to miss an episode. I’m adding a bunch of bonus episodes to the mix and if you’re not subscribed there’s a good chance you’ll miss out on those.

Now if you’re feeling extra loving, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast and they’re also fun for me to go in and read. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!