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Painting Contractors: Let’s talk about revenue vs take home pay

Name: Painting Contractors: Let’s talk about revenue vs take home pay
Uploaded: 2023-07-17T15:00:07+00:00
Duration: 36 s
Channel: Daniel Honan
Description: In this brief segment, the speaker addresses painting business owners, stressing that revenue alone is misleading and that the true measure of success is…

17 Jul 2023 · 1 min

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In this brief segment, the speaker addresses painting business owners, stressing that revenue alone is misleading and that the true measure of success is the profit they actually take home. He cites a client’s saying, “revenue is vanity, profit is sanity,” to illustrate that high sales figures don’t guarantee financial health. The core message is to benchmark the amount of profit an owner should retain relative to the volume of work flowing through the company, thereby setting owners up for sustainable success.

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painting business owners, what do they actually take home in their painting business? This is such an important topic. One of our clients said to me the other day, revenue is vanity, profit is sanity. I thought that was so smart because it, it's true. You can be making a ton of revenue, having all sorts of money coming into your business. That doesn't really matter. What really matters is what are you taking home? What is going into your bank account? That's the sanity part. So if we can set a benchmark, if we can understand how much profit we should be taking home in comparison to how much work is flowing through the company. That's gonna set us as the business owner up for success.