Welcome to The Fit Wealth Show, In the dynamic world of online business, determining the right pricing strategy is crucial for remaining competitive while ensuring profitability. The right pricing strategy can attract your ICA and drive your business Buuut, striking the perfect balance between competitiveness and profitability requires a strategic approach. Today on the show, we’re talking all about pricing strategies from a financial professional view to provide insights on how to implement them effectively. So ditch that whiteboard, grab your P&L’s and let’s get to it, this is the Fit Wealth Show!

Understanding your costs, you can’t figure out where to go, if you don’t know where you are...meaning you can aim for what other similar online business owners are doing, but we assume you are unique in what you offer and who you offer it to, so let’s start with the cost of doing business:

• Fixed Costs: These are expenses that do not change with the level of production or marketing, rent, salaries, and insurance.

• Variable Costs: These costs vary directly with the level of production or sales, such as merchants, fulfillment of services, and raw materials

• Break-even Point: The break-even point is where total revenue equals total costs, resulting in neither profit nor loss. Understanding this point helps in setting a baseline for your pricing strategy.

Using your financial statements to help you decide, vs. A whiteboard

Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com

IG: Shawn @fitwealthadvisor

IG: Amanda @thefitfinancial_

The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.

Welcome to The Fit Wealth Show, do you know the numbers in your business that will drive performance that will outlast the test of time? Key Performance Indicators (KPIs) are essential metrics used to gauge the performance of a business against your desired goals. Today on the show we are talking about the most important financial KPI’s that will either drive your business, or drive it right into the ground. So, ditch that whiteboard, grab your P&L’s and let’s get to it, this is the Fit Wealth Show!

• Revenue: Measures the increase in a company's sales over a specific period.
• Net Profit Margin: Indicates the percentage of revenue that is profit after all expenses are deducted.
• Gross Profit Margin: Shows the percentage of revenue that exceeds the cost of goods sold (COGS).
• Regularly tracking and analyzing these KPIs

Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com

IG: Shawn @fitwealthadvisor

IG: Amanda @thefitfinancial_

The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.

Welcome to The Fit Wealth Show, have you ever wondered if adding your kids to your payroll could save you money on taxes? Is it too good to be true, is it something that the IRS frowns upon? Well stay tuned for today’s episode of the Fit Wealth Show where we talk about the ins and outs and “how to’s” for paying your kids from your business.

• What is the purpose or goal of paying your kids from your business
• The 3 Steps for Paying your Kids from your business
• How to implement this as a tax strategy for your business
• How to use the money you pay your kids
• How to make your kids millionaires with the money they make

Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com

IG: Shawn @fitwealthadvisor

IG: Amanda @thefitfinancial_

The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.