Profit is the lifeblood of a business. Without it, you can’t pay your bills or your employees, and there’s no way to survive.
But how do we continue to grow the bottom line?
That’s what we hope to help you with on this episode of the Small Business Big Deal Podcast. We are joined by Tracy Jepson, CEO of TLJ Consulting, to talk all things profit.
Jepson works with close to 75 businesses around the country as a profit consultant. That process provides an in-depth look at the finances of a business and assists owners in how to manage this money to increase profits. As you could imagine, this can lead to difficult conversations with clients but also important results.
She’ll give us a look at how she works with businesses, some insight on the strategies she uses, and questions she asks. Are they working with the right customers? Do they have the right team members in the right role.
With spending down across the nation due to COVID-19, her business has increased as owners look for help analyzing their expenses to find any areas that can be trimmed down. And as a Certified Profit First Professional, Jepson ensures that clients are getting the ROI out of all the investments owners are making in their business.
We have a feeling this will be an episode that a lot of business owners will want to listen to because profit is an area that we always strive to improve.
A few of the things we’ll get into from the business side on the show:
- Perspective on how small businesses around the country are managing COVID-19.
- Learning that she doesn’t have to take on every client but it didn’t start that way.
- What does Pumpkin Plan Strategist allow you to do?
- Why the service-based business is who she works with frequently.
- The biggest mistake that she sees business owners make.
- The importance of education for herself and her business.
- The technology she’s using to be more efficient.
- Why she doesn’t believe in failure but instead using it to learn.
Listen to the full episode with the player above or click on the timestamps below to hear more about Jepson and TLJ Consulting.
[2:53] – Tracy Jepson joins us today.
[4:27] – How she got to this point since graduating from Kansas State.
[5:48] – Business staying busy at TLJ Consulting.
[6:46] – How have business owners around the country handled COVID-19
[8:26] – Working with about 75 small businesses.
[10:39] – What do you know now that you wish you knew when you began the business.
[12:30] – What is a Certified Profit First Professional?
[14:02] – What does the process look like when working with a business?
[20:29] – What is a Pumpkin Plan Strategist?
[23:15] – The type of business owner she works best with.
[24:25] – The most common mistakes being made by business owners.
[27:36] – Things she’s doing to continue educating herself.
[30:31] – What operating processes has she put in place and what technology is she using.
[33:14] – Finding time to work on the business rather than in the business.
[36:41] – She doesn’t believe in failure.
[39:41] – One of the best investments she’s made.
[40:51] – Best way to contact Tracy