230. Strategic Downsizing: This CEO Grew Take Home Pay By $60K When She Slashed Her Revenue From $650K to $300K.

Cubicle to CEO

Ellen Yin

Business, Marketing, Entrepreneurship

5.0 • 580 Ratings

🗓️ 22 January 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

You don't need to break the bank to boost your business! Check out the 33 FREE resources available to you in Freebie Fest Vol.2: http://ellenyin.com/freebiefestv2 It’s counterintuitive that letting go of your team and clients would increase your take home pay, but this case study on intentionally downsizing your business proves that can be true. Despite a high demand for her services, nonprofit fractional fundraiser consultant Cindy Wagman realized the business she was growing didn’t actually align with the life she wanted to create. Cindy made a risky bet by letting go of all her employees and offboarding her existing clients, effectively slashing her annual revenue in half, from $650,000 to $300,000. The result? She reduced her workload to only 3.5 days a week while increasing her take home pay by $60K (and growing yearly). In this case study, we cover why this strategic downsize improved profitability, how Cindy facilitated this transition of her team and clients, and practical insights that will help any entrepreneur seeking to better align their business finances with their personal goals. View the transcript for this episode at: https://otter.ai/u/gXGtSJ3R3rPpCMCUS-3s4FBi8BU?utm_source=copy_url Connect with Cindy: Mistakes Nonprofit Consultants Make In The First 3 Years Of Business: https://cindywagman.com/ellen https://www.fractionalfundraising.co/ Connect on LinkedIn: https://www.linkedin.com/in/cindywagman/ Follow on Instagram: @cindywagman.consulting/ Link mentioned in this episode: Trade Show Booth Episode w/ Becca Stern: https://link.chtbl.com/KtdZLrP_ Iconic business leaders all have their own unique genius. Take this quick 10 question quiz to uncover your specific CEO style advantage: https://ellenyin.com/quiz If you enjoyed today's episode, please: Post a screenshot & key takeaway on your IG story and tag me @missellenyin & @cubicletoceo so we can repost you. Leave a positive review or rating at www.ratethispodcast.com/cubicletoceo Subscribe for new episodes every Monday. Join our C-Suite membership to get bonus episodes! Check out everything our members get at https://ellenyin.com/csuite Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:51.5	Go to bluehost.com slash wonder suite. That's bluehost.com slash
0:58.8	wonder suite. You're listening to Cuvicle to CEO, episode 2.30. It's counterintuitive that
1:05.6	letting go of your team and clients would increase your take home pay, but this case study
1:10.1	on intentionally downsizing your
1:11.8	business proves that can be true. Despite a high demand for her services, non-profit fractional
1:17.7	fundraiser consultant Cindy Wagman realized the business she was growing didn't actually align with the
1:23.2	life she wanted to create. Cindy made a risky bet by letting go of all her employees and off-boarding
1:29.1	her existing clients, effectively slashing her annual revenue in half from $650,000 to $300,000.
1:36.8	The result? She reduced her workload to only three and a half days a week while increasing
1:41.7	her take-home pay by $60,000 and growing yearly. In this case study,
1:47.2	we cover why the strategic downsize improved profitability, how Cindy facilitated this transition
1:53.3	of her team and clients, and practical insights that will help any entrepreneurs seeking to better
1:58.7	align their business finances with their personal goals.
	...

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