#029: Want to Scale Your Retail Business? Fix This First.

Feeling stuck in the red but dreaming of seven figures?  In this empowering solo episode, Cathy Donovan Wagner tackles one of the most frequently asked questions by retailers: "How do I grow when I'm not even profitable yet?" Cathy shares her own journey of struggling with this exact question and lays out a clear, actionable path to stability and eventual scale. This episode is a must-listen for any store owner who’s dreaming big but struggling with red numbers. What You’ll Learn in This Episode: Why profit must come before scaling The three critical steps to stabilize your business finances Why focusing on repeat customers and bestsellers leads to faster results How to increase your items per sale with a simple formula Key Takeaways: [02:57] A great question from one of our viewers. [03:20] Step 1: Know your numbers, review P&L, debt, and expenses [04:12] Step 2: Improve cash flow, price for a 60% IMU, clear dead stock, cut costs [04:12] Step 3: Reduce expenses, know what your biggest expenses are. Resources Mentioned: Want help removing obstacles? Apply for your Gameplan Call here. If Profit Club isn’t the right fit right now, the application will guide you to a program that is, so you have nothing to lose by applying—because there’s always a next level, and we’ll help you get there Learn how to scale your retail business with our free training: . Or if you’re currently seeing sales below $250K/year, watch this FREE online training to build solid foundations for growth: How to Increase Your Sales So You Can Consistently Pay Yourself & Your Staff Millie Moment: Before you try to grow, ask if your store is profitable where you are right now? Pause and take ownership of your numbers because when you realize you have the tools to change your financial future, that’s a true Millie Moment. Connect with ambitious store owners in the Richer Retailer Facebook Group. Have questions? Reach out via email! Share this episode with a fellow store owner and help them tackle cash flow challenges! Remember, you are loved beyond measure, and you are doing better than you think. Keep showing up, your success story is unfolding one step at a time. 💚