112: Obsessed with Profitability | Ed Eppley

As entrepreneurs, we’re known for waiting too long to worry about profitability. On today’s episode of the podcast, you’ll hear leadership guru, Ed Eppley, talk about why doing that is such a big mistake for today’s business owners – in any industry.

During the podcast, he talks about the two types of businesses that came out of 2020 – the “Tomb” and the “Boom” and what both types can expect in 2021. As you listen, it’s important to keep in mind that this is not a discussion about doom and gloom – it’s a discussion about opportunity.

This is a great conversation to have where we are right now – in the first quarter of 2021. But Ed also shares his predictions for the rest of the year, so you’ll want to listen closely. I wish I had known him 30 years ago to avoid some of the mistakes I’ve made!

In this episode, you’ll discover:

• How keeping up with growth often becomes difficult and expensive
• Why – and how – you’re going to pay the price if you grow your business 20%+ each year
• Why you need to slow down and think about your profitability first
• The major importance of reviewing and understanding your balance sheet
• How to make your business more valuable to others (if that’s important to you)

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