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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Nov 19, 2020

In episode 313 of Financially Simple, Justin continues to examine the Profitability Gap, and how to reduce it.

Being Best in Class is no easy feat, it requires some tough choices and a resolute commitment to change some practices that might push Business Owners out of their comfort zone. In this episode, Justin looks at the different aspects of a business that can be adjusted to help reduce the Profitability Gap, with a real-world client as an example.

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00:58 - How to Bridge the Profitability Gap and Make More Profit

01:38 - What is the Profitability Gap (Recap)

03:54 - Adjustable Factors

05:16 - Case Study

07:15 - How to Bridge the Gap

09:46 - Further Adjustments

12:39 - The Results

14:10 - Conclusion

16:09 - Wrap Up



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Financially Simple podcasts are recorded on a Blue Yeti Microphone & Samsung Notebook 9.

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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.