Episode 29: Mastering Money: Profit Strategies for Small Business Owners

In this episode, Jennifer Kok sits down with Jamie Trull, a financial literacy educator and former Fortune 500 finance executive turned entrepreneur, to tackle one of the most challenging aspects of business ownership—managing money. Jamie shares her journey from corporate finance at Coca-Cola to launching her own business, fueled by her desire for flexibility and independence.Key takeaways include:Jamie’s Entrepreneurial Journey: How her corporate finance background inspired her to empower small business owners to understand and confidently manage their numbers.The Profit Plan Framework: Jamie breaks down her unique method to allocate profits effectively using the "PROFFIT" acronym, including funds for paying yourself, rainy day savings, reinvesting in opportunities, planning for the future, giving back, and yes—a "Fun Fund."Mindset Shifts Around Money: Overcoming fear, guilt, and limiting beliefs that hold entrepreneurs back from charging what they’re worth or making strategic decisions.Practical Pricing and Hiring Tips: Learn why pricing based on competition can be risky and how to determine when it’s time to hire or raise prices.Creating Resilient Businesses: Jamie and Jennifer discuss strategies to recover from tough seasons, use data to guide decisions, and plan for growth despite external challenges like inflation.Meet Our Guest:   Jamie Trull has built a following of over 100,000 small business owners on YouTube and social media, where her guidance helps entrepreneurs achieve strategic growth and retain more prJamie Trull, CPA, is a Financial Literacy Coach and Profit Strategist dedicated to empowering small business owners to maximize profitability and grow sustainably. With a background as a Finance Leader at Coca-Cola, Jamie transitioned from the corporate world to serve women-owned businesses as a Virtual CFO. Observing a critical gap in accessible financial resources for small business owners, she shifted her focus to financial education, using her CPA designation to break down complex financial topics into easy-to-understand strategies.ofit. Her upcoming book, Hidden Profit, will be published by Simon & Schuster in October 2025, providing readers with essential tools to unlock their businesses' financial potential.Connect with Jamie:https://jamietrull.com/ Resources Mentioned in the Podcast:Banking recommendations:  JamieTrull.com/BankingPROFFIT Plan free template: JamieTrull.com/PROFFITPlanMeet Your Host: Jennifer Kok has been a business owner for over 25 years and is now a business coach.She turned her first business into a franchise and successfully sold it 20 years later.  She was passionate about building a business and a family at the same time. Today she works with creative business owners who are tired of not getting paid enough for their hard work.  She walks them through the 3-step process she developed to allow them to Create More…Earn More…Stress Less.Get your free guide to grow your businesshttps://nextwavebusinesscoaching.com/3-steps-to-be-instantly-referable/Connect with Jen:  https://nextwavebusinesscoaching.com/My name is Jennifer Kok, and I’m a profit and growth advisor for service-based women entrepreneurs. I help women business owners make smarter, more strategic decisions so they can grow profitably, pay themselves consistently, and avoid burnout.Because the truth is, business owners make decisions all day long, but the ones that really matter are often the hardest ones. Should I hire? Raise my prices? Invest in marketing? Let go of a draining client? Expand, or simplify?Those decisions carry weight, and they can impact your time, your profit, your energy, and your long-term growth.That’s why I created the Focused Growth Collective, a virtual mastermind for women business owners who want support making the kinds of decisions that move a business forward. Yes, we talk strategy, but we also look at the bigger picture like mental load, health, profit, and long-term sustainability.My goal is to help women build businesses that pay them well, support their lives, and still feel worth leading 10 years from now.Connect with me:Website:Facebook:Instagram:LinkedIn:YouTube: