Thank you Jesus for the support of my family, friends and clients in 2018! For the first time since starting my company, Scientifically Speaking was profitable! I started this company as an experiment. I had lost my job in pharmaceutical sales, and I needed money coming in while I was searching. I made $4000 in my first year. That revenue is less than minimum wage! There were a lot of months I didn’t make any money at all, and that was embarrassing.
Revenue must exceed expenses to achieve profitability. My accountant allowed me to operate at a loss the first few years. Then he asked me if I was ever going to profitable, and I didn’t know. I worked hard, and I scheduled more and more presentations. My revenue went up, but my expenses rose even higher. Everything changed last year, and this year is going to be even better. Here are the five reasons Scientifically Speaking was profitable in 2018:
- Faith – “I am not ashamed of the Gospel, for it is the power of God for salvation to everyone who believes” (Romans 1:16). I have a sales strategy, and I execute it everyday. However, there is no guarantee money is going to come in. God has never left me or forsaken me, and I know He won’t start now. In 2018 I stepped up my faith. I still put in long hours working, but faith is the foundation for everything I do. If I do what God wants me to do, He will continue to provide.
Just Got Fired? Best. Day. Ever.
- Focus – Financial services has been my top industry for the last 5 years. As part of my sales strategy, I focused on two of my top clients. I didn’t spend a lot of time trying to grow into other industries. I go deeper with my clients and provide better service because I am focused one client type. I learned their terminology and needs. As a result of my work, my name spread in their organizations. Leadership in their companies now contact me directly for webinars and workshops to grow their business.
- Financials – My prices went up in 2018, and I created my first profit plan. I know how much business I need to get from which companies in 2019. I know what my expenses are for every month. Budgeting and forecasting control my spending. In previous years I spent with reckless abandon knowing I could write it off my taxes. Visa and American Express, however, want their money every month. Finally, my prices reflect the value I bring to my clients and organizations. Scientifically Speaking was profitable in 2018 because I learned to control my financials.
- Family – My daughters and I wrote a book in 2018 (Daddy Daughter Donut Day: 18 Tips for Dads with Daughters). Why family joined me on some of my business trips. We traveled coast to coast exploring this great country. When I couldn’t be home, I called to help with homework and say good night. This is not lip service. My family knows they come first in my life, and I demonstrate it to them.
- Fun – My job is fun. I study cutting edge technology, and train people on using it. My clients respect me, and I like them. I had more fun in 2018 that previous years. I laughed a lot more, and I demonstrated my enjoyment during presentations. People hired me more because my presentations are exciting, educational and entertaining. Look for more of the same in 2019 and beyond.
2019 will be an even better year than 2018. City, state and federal contracts will be an important part of my continued growth. Finally, we will be hiring our first Business Development Manager in 2019 to accelerate growth into new industries. God has blessed me last year, and I pray I can bless others going forward. Want to learn more? Contact us.
Scientifically Speaking, of course…