How to Fix Your Profit Leaks Before the End of the Financial Year

Prosperity on the Horizon

In episode 71 of 'Prosperity on the Horizon,' Julianna discusses strategies for addressing profit leaks and solidifying financial goals as the 2024-25 financial year draws to a close. The episode covers identifying hidden profit drains, such as untracked expenses and inefficiencies, and offers five actionable steps to improve profit and cash flow before June 30, 2025. These steps include auditing expenses, reviewing pricing, following up on invoices, consulting with accountants, and setting smart goals. Additionally, Julianna suggests exploring digital products as an alternative revenue stream and emphasizes the importance of timely bookkeeping and proactive financial management. Listeners are encouraged to act now to make meaningful changes and finish the financial year strong.

00:00 Introduction: Fix Your Profit Leaks

00:17 Assessing Your Financial Goals

01:28 Identifying Profit Leaks

02:10 Five Steps to Improve Profit and Cashflow

04:03 Exploring New Revenue Streams

05:20 Year-End Strategies for Business Owners

09:30 Final Tips and Recap

We will continue to cover topics that matter most to you - from unlocking profit opportunities to simplifying financial processes.

If you are listening to this podcast, chances are you are already on your way to exploring your numbers with a desire to understand and master your business finances, realising the transformative power that numbers hold for your business success.

To help you on your journey of building a thriving business with healthy cash flow, I’ve published a podcast series (Episodes 1-8) to highlight the biggest mistakes that prevent businesses from succeeding. To assist you in maintaining a healthy cash flow in your business, I walk you through The 7 Deadly Cash Flow Sins and give you tips and strategies on how to overcome them.

You can grab a free copy of my e-book ‘The Seven Deadly Cash Flow Sins’ right here, right now.

Is your business making money but your bank account doesn’t show it? Use this FREE 7-Point ‘Plug the Profit Leaks’ Checklist to fix the gaps, take back control and start paying yourself with confidence.

Download our SMART GOAL SETTING guide which will help you achieve your business dreams in 2025!

STOP wasting money and start using this simple tool to track and cut unnecessary business expenses. Download our Subscription Tracker Template which will help you take control of your expenses, eliminate waste and keep money in your business!

Complete our FREE ‘Business Health Check’ form to give you insights into where you’re strong or weak in your business, where there are opportunities to improve, how your business is performing in terms of profitability, cash and time.

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If you’d like to find out more about Julianna and her business, visit www.horizonaccounts.com.au or follow her on LinkedIn and Instagram @horizonaccounts or book a free 30 minute Business Diagnostic Review Call.

Stay tuned for the next episode of Prosperity of the Horizon, the podcast that transforms businesses through the power of numbers and the story behind them.