EOFY Reflections: Revenue is down but my WAGE IS UP

Big Dreams Great Teams® with Paula Maidens

In this episode, Paula reflects on the past 12 months in her business and shares her end-of-financial year review. She discusses the decline in revenue but emphasises that she paid herself more in wages compared to the previous year, which is more important to her.

Paula highlights her business value of chasing profit rather than just revenue and the details of how she conducted a cost review to cut unnecessary expenses in her business. She also talks about the changes in her team, her work-life balance, and her plans for the future.

Highlights

• Focus on profit rather than just revenue to ensure a sustainable business.
• Conduct a cost review to identify and eliminate unnecessary expenses.
• Regularly assess your team and make necessary changes to improve efficiency.
• Strive for a healthy work-life balance and make adjustments as needed.
• Plan for future growth and explore new opportunities for learning and development.

Chapters

00:00 Reflecting on the Past Year: Revenue vs. Profit

02:21 Cutting Costs and Increasing Wages: A Win-Win

09:23 Adapting to Team Changes and Streamlining Processes

16:00 Balancing Work and Life: A Work in Progress

20:02 Looking Ahead: Plans for Growth and Learning
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Website:https://paulamaidens.com/

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