“Hitting 50K per month doesn’t mean a thing if it costs you 50K to get there,” says Profit First professional, Amber Dugger.
If you made 50k in revenue last month, but you spent 50k to do that… then your profit was $0.
(Your stress levels were probably high.)
You’re basically no better off than if you had made $0…
Great copywriting can bring you tons of sales — i.e., tons of revenue — but without any profit leftover, something is seriously wrong.
Most people are chasing revenue, without any consideration of PROFIT.
They think high sales, high revenue means everything… but then they have nothing left to show for it.
That’s why in The Anti-Marketing Manifesto, I touch on the idea of “low volume, high margin.”
This is where you sell fewer units, but you make MORE profit off each sale.
This is contrary to popular wisdom, which says “Sell, sell, sell” without focusing on the profit piece.
I was shocked recently, after researching many businesses that appear to be wildly successful — they have huge revenue, but behind the scenes they’re not making any profits, and are actually underwater. (Think: major debt.)
Don’t be that business.
I have been there, and it is painful! But putting “profit first” in your biz changes everything.
The anti-marketer chooses to sell fewer units, at a higher price, so they can enjoy a higher margins.
…That means more profit.
…More money leftover in your bank account at the end of the month
…More to show for your business and your hard work.
Here’s something to ponder:
What’s been your highest revenue month to date? How much did it cost you to make that money? How much profit was there? Did you take your “profit first” before paying for anything else?!
One of the first things I look at before working with a new client is making sure their pricing isn’t artificially low. (And I’m not even a Profit First expert.)
In most cases, I tell everyone, “Raise your prices.”
Or I tell them: “Bundle your most popular products together into a high-priced bundle, and start promoting the shit out of it.”
When they do this, it instantly creates more margin, more profit, with fewer sales.
BTW, if you haven’t already read the book Profit First by Mike Michalowicz…read it! It will change your business!
Remember, the best sales copy in the world can’t help a business that isn’t priced for profit!!!
Founder, The Anti-Marketing Manifesto
Writer, Copywriter, Editor