101. REPLAY Ep. 44 The Retail Profit Pie

To celebrate 100 episodes of the Savvy Shopkeeper Retail Podcast, starting today we are replaying 6 of the most popular episodes. We chose the top 6 based on most downloaded, downloaded the most in relation to days published AND episodes that are the most popular with all of you. Even if you listened to the episodes we chose for these replays, I highly encourage you to listen again! You might just catch something that you didn't hear the first time around. We're all so busy and at times distracted, right? I know this happens when I listen to podcast episodes myself. My point is you may learn something new or something ELSE if you give these episodes a second go.  Today's replay is episode 44, The Retail Profit Pie Since I published this episode in October of 2020, I have put even more effort and weight into this concept. Because each time I've taught the concept of the Retail Profit Pie, whether it was with 1:1 clients on zoom, whether it was in a group setting, or even at this year's retreat - I saw the "AHA" expressions on the faces of shopkeepers each and every time. Before you listen to the replay I want you to understand that I'm using a pie, YES, FOOD, as a metaphor. The pie represents all of your revenue. When you pay for your cost of goods, that's one piece of pie. When you pay operating expenses, that's another piece of pie. Once you're done serving everyone else (aka your bills), the big question is are YOU getting a piece of your own pie?  I'll let the lesson speak for itself but I intentionally made this the first replay because  understanding what's going on in your business is important.  After publishing this episode and teaching the concept, I learned that many of you still needed a way to calculate what your own retail profit pie looks like, using numbers from YOUR P&Ls. So I created a tool with a NEW masterclass (the tool also has an area for shopkeepers who are experiencing net losses instead of net profits). I recently taught this masterclass in Master Shopkeepers. I do plan on releasing this new masterclass and tool as part of something in the future but until then, I want to make sure all of you learn about the basic concept first, by listening to episode 44….and for some of you, I hope you'll listen again. Thank you for supporting the Savvy Shopkeeper Retail Podcast by listening, writing reviews and cheering me on along the way! I would not have made it to 100 episodes without you!! One more thing, when you listen to this replay, I don't want it to discourage you. I want you to know that it is possible to have a profitable business that also pays YOU. I know, because this is what happens in my own business and I see it in my clients' businesses and in the businesses of some of our group members. IT IS POSSIBLE.  Visit the show notes from episode 44 HERE. Learn more about Kathy Cruz and Savvy Shopkeeper at Savvy Shopkeeper Follow Kathy on Instagram (@savvyshopkeeper)