The Business of Business - Two Daughters & Their Dad
What do an insurance agent/nonprofit volunteer, a salon owner, and a financial advisor have in common? Well, they are all part of an entrepreneurial family that wants to help others turn their passion into business. The Business of Business podcast was created by an entrepreneurial family Staci, Jennifer & Jack Dempsey, just two daughters and their dad. Each week the focus is on the Business of Business. No matter what business you are in, or want to be in, the business of business is the same. Listen in for tips, tricks, and strategies for turning your passion into your business. The Business of Business podcast is sponsored by: Dempsey, Weiss & Associates (www.dempseyweiss.com), J. Faith Hair Studio (www.faithhairstudio.com) and Flying High Agility & Dog Training (www.flyinghighagility.com) Look for new episodes twice a month.
The Business of Business - Two Daughters & Their Dad
Revenue versus Profit: What's the Difference?
In this episode, the hosts discuss the difference between generating revenue and generating revenue that produces a profit. They emphasize the importance of understanding pricing and value in relation to profit. They share examples of businesses that struggle to make a profit despite generating high revenue and offer advice on how to adapt and make changes to improve profitability. They also highlight the significance of focusing on the right clients and not trying to be everything to everyone.
Takeaways
- Generating revenue does not necessarily mean generating profit.
- Understanding pricing and value is crucial for profitability.
- Adapting and making changes to improve profitability is necessary.
- Focusing on the right clients and not trying to be everything to everyone is important.
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Jennifer Faith Dempsey has been in the beauty industry for over 10 years. For the last 5m years, she has owned J. Faith Hair Studio. She brings her experience on how she balances entrepreneurship and motherhood. Check out Jen’s blog.
Staci Joy Dempsey is an insurance agent, a mom, and a busy non-profit volunteer. She truly understands what it means to be an entrepreneur. Staci serves as the podcast's host.
Jack Dempsey is the dad who heads up this busy family. He is a founding partner in Dempsey, Weiss & Associates, an Elmer, NJ-based insurance and investment firm that began more than 30 years ago.