Mastering your Profitability (S2 E9)

Profitable Franchisees

#Business #France #Tracey Leak

27:12

We are here at eTail Palm Springs and seeing and hearing the latest and greatest in e-commerce and retail. Question: Do you need to choose between AI and human recommendations as a customer? Why not have both? After all, don’t each have their strengths? AI in the retail experience is all the rage these days, but today I’m talking with someone from a brand that has been incorporating AI-personalized experiences and shopping combined with expert human recommendations for over 14 years, and continues to innovate today. Today we’re going to talk about how AI-based personalization plus human creativity and input makes an amazing customer experience at Stitch Fix. To help me discuss this topic, I’d like to welcome Noah Zamansky, Vice President of Product and Client Experience at Stitch Fix. About Noah Zamansky Noah Zamansky serves as the Vice President of Product and Client Experience at Stitch Fix, where he leads cross-functional teams spanning Product, Design, Engineering, Algorithms, and Platform Development. A seasoned leader, Noah has a proven track record of shaping product vision and strategy, designing exceptional user experiences, and spearheading the launch of new business ventures. Before joining Stitch Fix, Noah held the role of Senior Director of Product Management at eBay, overseeing Fashion and Vertical Experiences. Resources Stitch Fix: https://www.stitchfix.com eTail Palm Springs: https://etailwest.wbresearch.com/ Connect with Greg on LinkedIn: https://www.linkedin.com/in/gregkihlstrom Listen to The Agile Brand without the ads. Learn more here: https://bit.ly/3ymf7hd Don't miss a thing: get the latest episodes, sign up for our newsletter and more: https://www.theagilebrand.show Check out The Agile Brand Guide website with articles, insights, and Martechipedia, the wiki for marketing technology: https://www.agilebrandguide.com The Agile Brand podcast is brought to you by TEKsystems. Learn more here: https://www.teksystems.com/versionnextnow The Agile Brand is produced by Missing Link—a Latina-owned strategy-driven, creatively fueled production co-op. From ideation to creation, they craft human connections through intelligent, engaging and informative content. https://www.missinglink.company…

大约1年之前 24:18

MP3•单集首页

00:00 Understanding Profit and Self-Sabotage

07:05 Setting Profit Goals and Measuring Success

14:13 Analyzing P&L for Better Profitability

21:45 Maximizing Profit Potential in Business Dips

Takeaways

Profit is essential for personal and business growth.

Focus on profit goals instead of revenue goals.

Regularly measure and review your profitability.

Understand your P&L as a working document.

Turn expenses into percentages for better insights.

Identify your most profitable products or services.

Cash flow management is crucial for profitability.

Work on business dips to maximize profit potential.

Break down financial goals into daily activities.

Aim for repeat business to enhance profitability.

For more details: http://www.traceyleak.com

Keywords

#franchiseeprofitability #profitgoals #measuringprofit #P&L #cashflowmanagement #businessstrategies #revenuevsprofit #franchisesuccess #profitabilitytips #financialmanagement #franchise #franchisee #podcast

65集单集

Mastering your Profitability (S2 E9)

Profitable Franchisees

published 大约1年之前

MP3•单集首页

Chapters

00:00 Understanding Profit and Self-Sabotage

07:05 Setting Profit Goals and Measuring Success

14:13 Analyzing P&L for Better Profitability

21:45 Maximizing Profit Potential in Business Dips

Takeaways

Profit is essential for personal and business growth.

Focus on profit goals instead of revenue goals.

Regularly measure and review your profitability.

Understand your P&L as a working document.

Turn expenses into percentages for better insights.

Identify your most profitable products or services.

Cash flow management is crucial for profitability.

Work on business dips to maximize profit potential.

Break down financial goals into daily activities.

Aim for repeat business to enhance profitability.

For more details: http://www.traceyleak.com

Keywords

65集单集

#Business #France #Tracey Leak

All episodes

1
The 5 Biggest Mistakes I See Franchisees Make (S2 E15) 30:11

5天之前30:11

30:11

In this episode, Tracey Leak discusses the five biggest mistakes franchisees make that hinder their profitability. She emphasizes the importance of following the franchise system, maintaining a positive attitude, being organized, managing expectations with franchisors, and understanding financial metrics. Through practical examples and insights, Tracey provides actionable advice for franchisees to enhance their business performance and profitability. Chapters 00:00 Introduction to Franchisee Success 05:47 The Importance of Following the System 12:37 Mindset Matters: The Impact of Attitude 18:19 Organization and Planning for Profitability 24:38 Managing Expectations with Franchisors Takeaways Franchisees often fail to follow the established system,which is crucial for success. A negative attitude can significantly impact businessprofitability. Being organized and having a clear plan is essential forrunning a successful franchise. Franchisees should manage their expectations regardingfranchisor support. Understanding financial metrics, such as conversion rates,is vital for business growth. Participation in franchise events and utilizing availableresources can enhance success. Franchisees must focus on what they can control and let goof what they cannot. Collusion among franchisees can create a negativeenvironment that hinders success. Positive communication and mindset can lead to betteroutcomes in business. Continuous learning and adaptation are key to maintainingprofitability. For more info: www.traceyleak.com #franchise #franchisee #podcast #franchisesuccess#profitability #businessmistakes #mindset #organisation #franchisor…

1
How to grow your franchise by knowing your numbers with Ben Davis (Athlete’s Foot & City Cave) (S2 E14) 36:30

12天之前36:30

36:30

In this episode of the Profitable Franchisees podcast, Tracey interviews Ben Davis, a unique multi-unit, multi-brand franchisee in Australia. Ben shares his journey from being a casual employee at Athlete's Foot to becoming a successful franchisee with multiple locations. The conversation delves into the importance of understanding business numbers, making data-driven decisions, and balancing work with family life. Ben emphasizes the need for franchisees to focus on controllable factors in their business and the significance of fostering a positive culture within their teams. https://www.theathletesfoot.com.au/ https://www.citycave.com.au/ Chapters 00:00 The Journey of a Multi-Unit Franchisee 11:47 Understanding the Numbers: Key to Success 23:24 Building a Strong Team Culture 35:28 Future Aspirations and Work-Life Balance Takeaways Ben started his franchise journey with Athlete's Foot whilestudying at university. He emphasizes the importance of customer service andbuilding relationships. Ben expanded to multiple locations based on strategicplanning and market opportunities. Understanding numbers is crucial for franchise success andprofitability. Controllable items like stock management can significantlyimpact profitability. Data-driven decisions can lead to better product offeringsand increased sales. Balancing business responsibilities with family time isessential for overall well-being. Open communication and transparency with staff foster apositive work culture. Franchisees should focus on what they can control amidstexternal challenges. A positive mindset can help navigate tough businessenvironments. For more info: www.traceyleak.com #franchisee #franchise #multi-unit #businessgrowth#customerservice #cashflow #datadrivendecisions #familybusiness #profitability#franchisesuccess #management #podcast…

1
Your First 90 Days as a Franchisee (S2 E13) 31:22

19天之前31:22

31:22

In this episode of the Profitable Franchisees podcast, hostTracey Leak discusses the critical first 90 days for new franchisees. She emphasizes the importance of following the system, asking for help, and finding a rhythm in business. Tracey provides practical tips for simplifying the approach, planning weekly, building relationships with peers, and navigating advice from experienced franchisees. She encourages new franchisees to overcome challenges by focusing on solutions and utilizing available resources forsuccess. Chapters 00:00 Introduction to the Franchise Journey 10:03 Building Momentum and Work Ethic 18:00 Finding Your Rhythm and Support 25:33 Asking the Right Questions and Backing Yourself Takeaways The first 90 days are crucial for franchisee success. Every franchisee's journey is unique, despite similarsystems. Following the established system is essential for success. Asking for help is not a sign of weakness; it's necessary. Finding your rhythm in business takes time and effort. Simplicity is key in the early stages of business. Regular planning meetings with yourself can enhance focus. Building relationships with peers can provide valuablesupport. Always verify advice from experienced franchisees with headoffice. Focus on solutions rather than excuses to overcomechallenges. For more info: www.traceyleak.com #franchise #franchisee #first90days #businesssuccess#franchisingtips #franchisegtraining #businessplanning #mentorship#franchisesupport #peertopeer…

1
The 4 Stages of Hiring (S2 E12) 30:02

26天之前30:02

30:02

In this episode, Tracey Leak discusses the four stages ofhiring a successful team for franchisees. She emphasizes the importance of understanding who to hire, conducting effective interviews, implementing a thorough induction process, and providing ongoing support and development for new employees. By focusing on personality traits and cultural fit rather than just skills, franchise owners can build a more cohesive and effective team. Chapters 00:00 Introduction to Hiring for Success 05:09 Stage One: Defining the Ideal Candidate 10:57 Stage Two: The Interview Process 17:28 Stage Three: Induction and Training 23:40 Stage Four: Ongoing Development and Integration Takeaways Stage one is about understanding who you need to hire. Focus on personality traits, not just skills. Group interviews can save time, but one-on-one is oftenbetter. Induction is crucial for new hires; have a plan. Use the 'see one, do one, teach one' method for training. Check in regularly with new employees to support theirdevelopment. Hiring is about finding trainable individuals, not justskilled ones. Create a culture of support and ongoing training. An A to Z book can help new hires with common questions. Prevention in hiring leads to better long-term employeeretention. For more info: www.traceyleak.com #franchise #franchisee #hiring #interviewprocess #teambuilding #induction #franchisesuccess #team…

1
Physical Marketing in a Digital World with Evan Gill (Kwik Kopy) (S2 E11) 24:31

5 weeks之前24:31

24:31

In this episode of the Profitable Franchisees podcast, host Tracey Leak speaks with Evan Gill from Kwik Kopy about the resurgence of physical marketing in a digital world. They discuss how local area marketing strategies, innovative print marketing techniques, and the importance of personal connections can significantly enhance a franchisee's business. Evan shares successful examples of physical marketing campaigns and emphasizes the need for quality in print materials. The conversation highlights the synergy between digital and physical marketing, encouraging franchisees to invest wisely in their marketing strategies for better customer engagement and business growth. To contact Evan: https://kwikkopy.com.au/location/qld/eagle-farm https://www.linkedin.com/in/evan-gill-44aa4956/ Chapters 00:00 The Resurgence of Physical Marketing 10:15 Innovative Strategies in Local Area Marketing 17:31 Maximizing Print Marketing Investments 20:09 Keys to Success as a Franchisee Takeaways Physical marketing is making a comeback post-COVID. People are craving personal connections after digital overload. Innovative promotional items can enhance marketing efforts. Quality graphic design is crucial for effective print marketing. Different types of paper stock can impact brand perception. Local area marketing can significantly boost business visibility. Catalogs and flyers can have a long shelf life with customers. Networking and personal touches can lead to better business relationships. Investing in quality marketing materials pays off in the long run. Combining digital and physical marketing strategies is essential. For more info: www.traceyleak.com #franchisees #franchise #podcast #physicalmarketing #localareamarketing #printmarketing #marketingstrategies #businessgrowth #promotionalproducts #customerengagement #marketinginvestment #networking #marketing…

1
Mental Health In Business with Jodi Brown (Alchemy Coaching) (S2 E10) 36:09

6 weeks之前36:09

36:09

In this episode of the Profitable Franchisees Podcast, host Tracey speaks with Jodi Brown about the critical topic of mental health in the workplace. Jodi shares his personal journey from IT to becoming a mental health advocate, discussing the stigma surrounding mental health issues and the importance of open conversations. They explore practical strategies for business owners to support mental health, including exercise, mindfulness, and social support. Jodi emphasizes the need for a supportive workplace culture and effective communication when approaching colleagues in need. The conversationalso touches on happiness hacks, the significance of finding passion outside of work, and the transformative power of giving back through volunteering. Together, they aim to break the stigma around mental health and promote a healthier work environment. To contact Jodi: https://alchemycoaching.com.au/ Chapters 00:00 Introduction to Mental Health in the Workplace 02:56 Jodie's Journey: From IT to Mental Health Advocacy 06:01 The Stigma of Mental Health: A Shared Experience 08:44 Strategies for Improving Mental Health in the Workplace 11:40 Innovative Approaches to Workplace Wellbeing 15:04 Supporting Colleagues: How to Approach Conversations 17:52 Happiness Hacks: Simple Ways to Boost Wellbeing 20:54 Finding Passion Outside of Work 23:45 The Power of Giving Back 27:04 Conclusion: Breaking the Stigma Around Mental Health Takeaways Mental health is a crucial topic often overlooked in workplaces. 50% of Australians will experience a mental health disorder in their lifetime. Exercise is the number one strategy for improving mental health. Mindfulness practices can significantly enhance wellbeing. Social support is essential for mental health. Creating a supportive workplace culture is vital for employee satisfaction. Effective communication can help identify colleagues in need. Gratitude practices can lead to increased happiness. Finding passions outside of work is important for mental health. Volunteering and giving back can improve personal wellbeing. For more info: www.traceyleak.com #mentalhealth #workplace #coaching #wellbeing #support #happiness #communication #volunteering #franchise #franchisee #podcast…

1
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7 weeks之前24:18

24:18

In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses the essential strategies for mastering franchisee profitability. She emphasizes the importance of focusing on profit rather than just revenue, the necessity of measuring profitability through regular P&L reviews, and actionable strategies to increase profitability. Tracey provides insights on understanding profit centers, managing cash flow, and breaking down financial goals into manageable activities. The episode serves as a comprehensive guide for franchisees looking to enhance their business profitability. Chapters 00:00 Understanding Profit and Self-Sabotage 07:05 Setting Profit Goals and Measuring Success 14:13 Analyzing P&L for Better Profitability 21:45 Maximizing Profit Potential in Business Dips Takeaways Profit is essential for personal and business growth. Focus on profit goals instead of revenue goals. Regularly measure and review your profitability. Understand your P&L as a working document. Turn expenses into percentages for better insights. Identify your most profitable products or services. Cash flow management is crucial for profitability. Work on business dips to maximize profit potential. Break down financial goals into daily activities. Aim for repeat business to enhance profitability. For more details: http://www.traceyleak.com Keywords #franchiseeprofitability #profitgoals #measuringprofit #P&L #cashflowmanagement #businessstrategies #revenuevsprofit #franchisesuccess #profitabilitytips #financialmanagement #franchise #franchisee #podcast…

1
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8 weeks之前38:57

38:57

In this episode of the Profitable Franchisees podcast, host Tracey Leak speaks with Leisa Gill from BNI about the critical importance of building relationships in business. They discuss how relationships with customers, suppliers, and team members can lead to greater success and profitability. Leisa shares her insights on purposeful networking, the time investment required to build lasting relationships, and the return on investment that comes from nurturing these connections. The conversation also highlights the role of BNI in helping franchisees grow their businesses through effective networking and relationship-building strategies. For more information on BNI, go to www.bni.com.au Chapters 00:00 Introduction to Building Relationships in Business 02:33 The Importance of Relationships for Success 05:23 Networking vs. Building a Network 08:14 The Time Investment in Relationships 11:11 Real-Life Examples of Relationship ROI 14:28 Tips for Accelerating Relationship Building 17:11 Maintaining Long-Term Relationships 20:21 Building a Strong Team through Relationships 23:01 The Role of BNI in Networking 26:21 Final Thoughts on Relationship Building Takeaways Building relationships is essential for business success. People do business with individuals, not just brands. Networking should focus on building trust and connections. Investing time in relationships pays off in the long run. Purposeful networking is different from casual networking. Understanding your clients' needs helps serve them better. A strong network can lead to significant referrals. Treat your team with appreciation and respect. Clear communication and expectations are vital for team success. Surround yourself with like-minded individuals to foster growth. For more details: http://www.traceyleak.com #businessrelationships #networking #franchiseesuccess #BNI #customerrelationships #teambuilding #referrals #localmarketing #relationshipbuildingstrategies #trustinbusiness #franchise #franchisee #localareamarketing #marketing…

1
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9 weeks之前34:10

34:10

In this episode of the Profitable Franchisees podcast, Tracey talks with Taylor Fielding from TFM Digital to discuss the importance of local area marketing for franchisees. They explore how understanding the local audience through data can enhance marketing strategies, the integration of digital and traditional marketing methods, and practical steps for franchisees to start their marketing journey. Taylor emphasizes the need for ongoing marketing efforts and the significance of genuine customer engagement to drive business success. To contact Taylor: www.tfm.digital Chapters 00:00 Introduction to Local Area Marketing 03:49 Understanding Your Audience Through Data 06:56 Creating Effective Marketing Campaigns 09:43 Leveraging Digital Platforms for Local Marketing 12:52 Navigating the Tech of Digital Marketing 16:52 Measuring Marketing Success Beyond Vanity Metrics 19:53 Exploring Diverse Digital Marketing Strategies 23:02 Getting Started with Local Area Marketing 24:51 The Importance of Consistent Marketing 27:55 Collaborating with Franchisors for Better Marketing Takeaways Local area marketing is essential for franchisee profitability. Understanding your audience through data is crucial for effective marketing. Digital marketing tools can help franchisees connect with their local community. Creating personas based on local demographics can guide marketing strategies. Franchisees should leverage both digital and traditional marketing methods. Always-on marketing is necessary to stay top-of-mind with customers. Collaboration with local businesses can enhance marketing efforts. Franchisees should utilize available resources and tools for audience profiling. Tracking actual business drivers is more important than vanity metrics. Engaging with customers genuinely can lead to better marketing outcomes. For more details: http://www.traceyleak.com #franchising #localareamarketing #digitalmarketing #audienceprofiling #marketingstrategies #franchiseesuccess #marketingtools #customerengagement #marketingcampaigns #socialmedia #franchise #franchisee #franchisemarketing…

1
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10 weeks之前25:58

25:58

In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses effective strategies for setting and achieving goals in the new year. She emphasizes the importance of personal commitment to goals, the need for focus, and the significance of breaking down larger goals into manageable steps. Tracey also highlights the role of accountability, the impact of procrastination, and the necessity of celebrating successes to foster a supportive environment for achieving goals. Chapters 00:00 Setting Goals for the New Year 05:36 Creating Effective Goals 11:41 The Importance of Accountability 17:41 Celebrating Achievements and Supporting Others Takeaways Setting goals requires personal commitment and focus. Many people abandon their New Year's resolutions within 90 days. Prevention is better than cure when it comes to goal setting. It's important not to set too many goals at once. Breaking down goals into smaller steps makes them more achievable. Accountability is crucial for staying on track with goals. Procrastination often signals deeper issues that need addressing. Allow yourself to achieve your goals and recognize your worth. Celebrating the success of others can help build a supportive network. The new year is an opportunity to set meaningful goals and achieve them. For more details: http://www.traceyleak.com #goalsetting #NewYearsresolutions #accountability #personaldevelopment #businessstrategies #success #motivation #productivity #franchisebusiness #achievinggoals #franchise #franchisee…

1
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11 weeks之前21:57

21:57

In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses strategies for setting up for a successful 2025. She emphasizes the importance of self-assessment, reflecting on the past year, analysing strengths and weaknesses, and creating a support system. Tracey encourages listeners to revisit successful habits, conduct a financial analysis, and identify what energized them in the past year to replicate success moving forward. Chapters 00:00 Setting the Stage for 2025 05:36 Strengths and Weaknesses Analysis 12:39 Financial Analysis and Profit Opportunities 19:51 Planning for Support in 2025 Takeaways Reflect on the past year to set better goals. Identify what worked and what didn't in your business. Focus on strengths to enhance business performance. Revisit successful habits that may have been abandoned. Analyze your P&L for profit opportunities. Recognize the importance of cash flow alongside profit. Identify sources of positive energy in your business. Create a start, stop, change, or let go list. Establish a support system for the upcoming year. Hit the reset button to move forward with clarity. For more details: http://www.traceyleak.com #franchisee #businessstrategy #goalsetting #self-assessment #financialanalysis #strengths #weaknesses #support #2025planning #reflection #profitability #franchise…

1
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12 weeks之前34:26

34:26

In this episode of Profitable Franchisees, host Tracey Leak speaks with Executive Financial Coach Sloan Wilkins about the importance of financial wellbeing for franchisees and small business owners. Sloan shares his personal journey into financial coaching, emphasizing the need for good financial habits and effective budgeting tools. He discusses strategies for eliminating debt, the significance of having a profit plan, and how business owners can support their team's financial wellbeing. The conversation highlights practical tips for achieving financial success both personally and professionally. Chapters 00:00 Introduction to Financial Wellbeing 02:51 Sloan's Journey to Financial Coaching 06:05 Building Good Financial Habits 08:56 Tools for Effective Budgeting 12:12 Eliminating Debt and Planning for the Future 14:59 The Importance of a Profit Plan 17:45 Supporting Team Financial Wellbeing 21:05 Conclusion and Key Takeaways Takeaways: Financial wellbeing is crucial for franchisees and small business owners. Good financial habits contribute significantly to personal finance success. Budgeting should be viewed as a spending plan to encourage positive behaviour. The debt snowball method helps eliminate debt effectively. Emergency savings provide peace of mind and financial security. A profit plan prioritizes profit and ensures business sustainability. Investing in team financial wellbeing can improve retention and productivity. Regular financial discussions within couples can enhance financial management. Setting up separate accounts for profit and taxes helps manage finances better. Small actions lead to significant financial improvements over time. Sloans details: Email: sloan@everydaymoney.live Website: www.everydaymoney.live #financialcoaching #personalfinance #budgeting #debtelimination #profitplanning #financialwellbeing #smallbusiness #franchisees #financialhabits #wealthmanagement #franchise…

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21:25

In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses the critical role of local area marketing in growing a franchise business. She emphasizes that franchisees must actively engage in local marketing efforts rather than relying solely on the franchisor's branding. Tracey provides insights on understanding the target audience, leveraging community engagement, and utilizing micro communities for effective marketing. She also highlights the resurgence of old school marketing strategies and offers practical tips for franchisees to enhance their local marketing efforts. Chapters 00:00 Introduction to Local Area Marketing 08:47 Understanding Your Target Audience 14:11 Leveraging Micro Communities 20:37 Conclusion and Next Steps Takeaways: Local area marketing is essential for franchise growth. Franchisees should not rely solely on franchisor marketing. Understanding your target audience is key to effective marketing. Community engagement can significantly boost local marketing efforts. Micro communities can be targeted for more effective marketing. Old school marketing strategies are making a comeback. Quality of social media followers is more important than quantity. People need multiple exposures to a business before purchasing. Sponsorship should be meaningful and connected to the community. Franchisees should leverage existing marketing systems and strategies. #localareamarketing #franchisebusiness #marketingstrategies #communityengagement #targetaudience #microcommunities #oldschoolmarketing #marketingtips #franchisegrowth #marketingROI #marketing #franchise…

1
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34:36

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1
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