In today's episode, we will be discussing the topic of building a highly profitable business. We'll talk about the minimum profit margins necessary for success, the importance of pricing and inflation, and the impact of taxes on your business. We'll also take a closer look at analyzing your expenses using the 80-20 rule to maximize your profits. While this may not be as interesting to everyone, it is crucial for those aiming to build a successful 6 or 7-figure business. As I share my journey of designing the house of my dreams, you'll see firsthand the importance of generating sufficient profit to achieve your big goals. Get ready to learn valuable insights on profit maximization and how to make more money in your business. The main topics we cover: 🔥 The importance of profit in achieving big goals and considering expenses that reduce profit margin 🔥 Need for calculating the cost of selling a product/service and determining the profit margin 🔥 Challenges of hiring and its impact on profit margin 🔥 Taxes and inflation and their effect on pricing 🔥 Importance of evaluating and cutting unnecessary expenses through 80/20 analysis Watch the episode on Youtube: https://www.youtube.com/@realtimfrey Join us every Monday to get your weekly hit of knowledge. If you have any questions or find value in the show, let me know on IG @realtimfrey or for more on our courses and mentorship head over to Tim Frey.