This is a YouTube video titled "Boosting Profit Margins: The 58% Goal 🚀" containing a monologue by Beverley Simpson recorded in January 2025. Beverley discusses strategies for achieving a 58% profit margin for accelerator clients, comparing online business costs to brick-and-mortar operations, and emphasizing labor cost efficiency and team performance to maximize revenue.
I want my accelerator clients to live in a 58% profit margin. Now, I'm going to not lie to you that that a lot of, like brick and mortars, they operate at a 25% profit margin. And that's fine. That's fine, too. But that's because they have a lot. It costs the business more to have a brick and mortar. So it's natural that the profit margin would not be 58%. It's just, frankly not as expensive to run an online business. Then I want you to think about your labor cost. What was the total labor cost and then the total revenue. And we want to have a 4 to 5x return on that. And if we're not, we need to look at it. We need to either look at. We need to look at our team, and we need to look at the efficiency of the team. Do we need to improve performance? Do we need to add more to the plate? How can we have a return Now? A lot of times I have felt I'm going to just share this for myself. There are people on my team that are not a direct reflection of generating revenue. So, for example, I have part of the sales team, but I also people that help me in fulfillment, and I have people that help me. You know, I have admin assistant who helps me do a lot of the tech stuff. And while he's not on the phone, you know, dialing, you know, generating revenue, he's absolutely so important because he's freed up my time so that I can have a sales conversation for that hour instead of messing with my landing page.
