Rocky Lalvani, the Profit Answer Man

Your World of Creativity

Mark Stinson

Education, Business, Self-improvement, Design, Marketing, Arts

5.0 • 45 Ratings

🗓️ 12 February 2021

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Rocky Lalvani.

Highlights of my interview include:

Numbers can tell a story
Value pricing means what the customer values your work to be (and what they expect to pay)
A new way to position profit (sales - profit = expenses)
The answer is almost always not more resources, but to be more resourceful

You'll also hear his story. Rocky says:

"So while I’m interested in money, I’ve always seen it as a tool, as something that can open countless doors if managed well. Without understanding money, my dad wouldn’t have been able to sustain a family in America. I wouldn’t be able to live out my dream of taking my family on a vacation across Italy.

I’ve seen how much of a difference understanding money makes in my own life. And I’ve now made it my goal to help others open doors, solve problems, and gain freedom through understanding the finances for their small business.

Rather than only making money off of telling other people what to do, I’ve truly lived out the experiences of both working a corporate job, working independently, and managing a small business. Now, I want to take this knowledge and share it with other small business owners at a fraction of the cost that it would be to hire a dedicated full-time financial manager."

Rocky's website is https://profitcomesfirst.com/

And hear his Profit Answer Man podcast at https://podcasts.apple.com/us/podcast/profit-answer-man-implementing-the-profit-first-system/id1508245322

Thanks to you for being an engaged listener of our podcast.

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And visit my website at www.mark-stinson.com

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Transcript

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0:00.0	I'm locking your world of creativity with Mark Stinson, Copyright 2021.
0:15.0	Hello again friends, this is Mark Stinson. You've come to the podcast on locking your world of creativity.
0:21.0	And you know, a lot of people have felt creativity as a talent.
0:25.0	That is inherited maybe by a lucky few. It's some sort of artistic genetic built-in thing.
0:31.0	But rather, we found that it's a skill and it's a muscle that can be developed.
0:36.0	And at the same time, we've also seen over the years that a lot of creative people aren't always comfortable talking about money.
0:44.0	Talking about fees, how much they charge, what their profit margin is, how much they pay their people.
0:51.0	And so today, we're going to debunk some of those myths. We're going to break down some thought processes and some real financial processes to understand how we can be more profitable with our creative enterprises and businesses.
1:05.0	And my guest is Rocky Lavani. And he is the profit answer man. And I love the fact that it's like, hey, you've got a question about money. Here's a profit answer man.
1:15.0	His business as profit comes first. Rocky, just so glad to have you on the program.
1:20.0	Thank you, Mark, so much for having me excited to be here and to chat with you today.
1:25.0	Rocky, working with so many small business owners like you do, really helping them maximize their profit.
1:32.0	I even think of the definition right off the bat. You've got a top line. You've got a bottom line.
1:37.0	Ultimately, you have to clear money at the end of the month. You can't just say I made a lot.
1:42.0	You have to say, you know, we profited a lot. When you work with these small businesses, do they appreciate that difference?
1:49.0	And how do you help shine some light on that for them?
1:52.0	They don't. I think for most businesses, the concept of profit is hard to figure out.
2:00.0	I mean, for most of you, when, when do you find out when you're profitable, when your year is over,
2:07.0	and a couple of months have gone by, and now your tax returns finally done.
2:12.0	And the accountant says to you, congratulations, you are profitable or unprofitable.
2:17.0	And here's what you owe and taxes. And invariably, the, the comments I get from business owners are,
2:23.0	when my accountant tells me I'm profitable, there's no money in the bank.
	...

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