Avoid 5 Fatal Financial Mistakes Business Owners Make and Scale Profitably!

Only one in five businesses survive three years; only 4 percent (one in 25) of those grow to have revenues of $1 million or more. The odds of success are slim, yet the allure of starting and scaling a profitable company is greater than the fear of failure.  

Why are the odds so long? Most business owners know their industry and are experts in their field – but very few know the business of running a business.  While much is intuitive, financial management is not. There are illogical accounting rules and very few resources available to guide good financial decision making. 

In this workshop, business owners will learn how to avoid some of the most common financial mistakes. The audience will both laugh and cry as the presenter describes some of the stupid decisions she made while growing her companies to almost $100 million in revenue each. Everyone will relate (as most have done some of these things)!

Important takeaways will include:

• Learning which customers are profitable and which are not – and what to do about the unprofitable ones.
• Analyzing metrics to determine future cash flow (or shortfalls) so appropriate action can be taken in a timely manner.
• Leveraging your resources to create a more sustainable revenue stream.
• Understanding your pricing policies and how they fit into your business model.
• Building equity and wealth by identifying anomalies and then correcting course.

About Deb Purvin

Deb Purvin founded Business Owner’s MBA (BOMBA) to share her secrets to scaling a business AND having a life. Deb successfully grew two companies to $100 million, sold them, sailed around the world for 5 years, and now serves as faculty for Goldman Sachs 10,000 Small Businesses Program.

After a Dartmouth and Harvard education and years in banking, Deb was shocked to discover how much she didn’t know about running her business… which led to costly mistakes. BOMBA was founded to provide exactly the education Deb wished she’d had.

With a focus on financials, BOMBA helps business owners get “unstuck”, avoid the inevitable pitfalls of entrepreneurship, and successfully scale their companies by increasing revenues, improving profitability, motivating employees, and creating enough free time to actually enjoy their success!

Read more about the intriguing background of this week's speaker: Deb Purvin.