#80: How to Reinvest Your Profit to Fuel Growth

The StoryBrand Podcast

StoryBrand.com

Business, Marketing

4.7 • 2K Ratings

🗓️ 11 July 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When you have extra money in the bank, you should reinvest it in your company. But how do you know where to invest when there are many areas that need attention? Instead of sitting on your profit with uncertainty or putting money in the wrong places, you want to pour cash in strategic growth areas.

In today's episode, Donald Miller talks with Rebekah Scott of Rebekah Scott Designs, a luxury handbag brand that allows women to design their own purses. In 2020, Rebekah reinvested some of her profit in a business initiative that flopped. Listen in as Rebekah and Don discuss reinvesting principles that provide results, not regrets. As you'll see in today's coaching session, disciplined investing in sales, marketing, and products will keep your business strong and growing!

Find out more about Rebekah's custom bags at ShopRSD.com and 1948Leather.com. Use promo code BMSUPODCAST at checkout for $10 off your next purchase.

TAKE THE MYSTERY OUT OF RUNNING YOUR BUSINESS WITH OUR ON-DEMAND COURSES: BusinessMadeSimple.com

SUBMIT FOR A CHANCE TO GET COACHED ON THE PODCAST: BusinessMadeSimple.com/Podcast

FIND OUT WHAT'S WRONG WITH YOUR BUSINESS AND GET A CUSTOMIZED PLAN TO FIX IT: MyBusinessReport.com

Transcript

Click on a timestamp to play from that location

0:00.0	Before we start the show, I want to tell you about my first million hosted by San
0:04.5	Par and Sean Perri, and available now on the HubSpot podcast network.
0:08.8	My first million features famous guests discusses how companies made their first million
0:13.9	and brainstorms new business ideas based on the hottest trends and opportunities
0:18.3	in the marketplace. Recent episodes, you should absolutely check out our three profitable business
0:23.2	ideas you should start in 2022, drunk business ideas that could make you millions,
0:28.6	and asking the founder of Grammarly how he built a 13 billion dollar company.
0:34.2	If you are curious to know how successful business leaders got to where they are,
0:38.1	and the opportunities and trends you need to be looking out for when it comes to growing your own
0:41.9	business, listen to my first million wherever you get your podcasts.
0:50.1	Welcome to the business made simple podcast brought to you by the HubSpot podcast
0:53.9	network. Every week on the show we coach you to build your business like an airplane.
0:57.7	The cockpit is your leadership, the body is your overhead, the right engine is your marketing,
1:02.2	the left engine is your sales, the wings are your products, and the fuel tanks are your cash flow.
1:07.2	If you master the six parts of a small business, your business will fly far and fast.
1:11.7	Every week we help a business owner just like you optimize their airplane.
1:15.7	I'm your host Donald Miller. Today on the podcast we're going to talk about where to put the
1:20.1	money you want to reinvest in your company. A lot of your your company did well, your business
1:25.7	and you're looking to reinvest some of that money because you want to keep it going.
1:29.2	You want to double down on your investment. Some of you have done that and it did not work.
1:35.1	Today I'm talking to Rebecca Scott of Rebecca Scott Designs. I think you're going to love her.
1:40.3	She's a farmer in South Dakota and yet she's got a company that's booming. It is succeeding.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from StoryBrand.com, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of StoryBrand.com and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.