Profit & Loss Panel
Xperience CEO Chris Suarez and Jon Brooks of The Jon Brooks Team served on a Mega Camp panel about the profit and loss statement.
By using Xperience’s business model, each and every person is set up to become the CEO of their own business. How does this happen? By replacing their GCI with business profit such that the dividends they earn from the business become their numbers.
Chris often uses the phrase, “Has the business earned the right to expand?” This involves a look into the operation systems, lead generation guarantees, growth systems, and talent attraction systems.
If we follow a budget model, then we know when we can hire, when we can invest, when we can expand, and when we can experiment.
Three takeaways from Jon Brooks include:
1. All that matters is lead generation and the best service possible to gain more referrals.
2. Set goals on net worth, not net profit (which can also be a vanity metric w/ GCI). i.e. live below your means and track your numbers to make sure you do. Treat your household expenses just like a P&L - is this expense giving you a 4x return on your happiness?
3. Your price point determines your profit, so pick your profit.
If you want to learn more about CEO growth, contact email@example.com