She Means Profit

Unlocking the PROFIT Method Framework: Transform Your Business and Build Wealth

• Melissa Houston • Season 2 • Episode 164

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"If it’s too late to start something new, especially a business, let me reassure you: it’s never too late."

— Melissa Houston

Are you feeling stuck in your business or contemplating a big change in your career? In episode 164 of the She Means Profit podcast, I’m thrilled to introduce the new PROFIT Method Framework, a game-changer designed to guide you through every stage of your entrepreneurial journey.

This month has been full of personal milestones for me—celebrating 25 years of marriage and my children’s significant life achievements. Reflecting on these moments has reminded me how important it is to embrace change and new beginnings, no matter our age or stage in life. For those of you wondering if it’s too late to start something new, especially a business, let me reassure you: it’s never too late. I started my business at 46, and I’m here to help you do the same with confidence and success. 

The PROFIT Method Framework is tailored to meet you where you are, whether you’re just starting out or looking to scale. This episode dives into each step of the framework, starting with the critical mindset foundation.  

Join me as we explore how this framework can transform your business and help you build the wealth and impact you deserve. Don’t forget to check the show notes for links to additional resources, courses, and free strategy calls. Let’s turn your business dreams into a thriving reality! 

Listen to learn:‌

  • A resilient and growth-oriented mindset allows you to overcome rejection, push through challenges, and keep moving forward.
  • Build genuine relationships with your customers, and craft a compelling value proposition that resonates with your target audience.
  • Master financial literacy to grow your business. Understanding cash flow, profit margins, and budgeting is key to preventing financial mismanagement.

Links:‌ ‌  

Courses:

Work with me:

Follow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa

Work with me:

Follow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa

Note: We use AI transcription so there may be some inaccuracies

Melissa Houston: Welcome to episode 164 of the She Means Profit podcast. Last week, I shared with you that there were some small changes happening in She Means Profit. And you know, they're small changes, but they're still changes nonetheless. And today I am very excited to share with you our new profit method framework that's been designed to help guide you through whatever stage you are in your business.

So that's really exciting news, and we are going to dive into it. Soon, but first little chit-chat. So September's coming to an end and time is just flying by. This year's September was a big month for us at the Houston household. So my husband and I celebrated our silver anniversary together this month.

So 25 years of marriage. We've been together for 27 years in total, and 25 of us are married. And I can tell you, honestly, if I had to. would definitely do it all over again if I had that choice, I would definitely do it over again. I feel so lucky. He is truly my best friend and don't get me wrong though, there's days where he annoys the crap out of me, but I love him dearly.

And, even though he's annoying the crap out of me sometimes, he honestly makes me laugh every day. And I think that that is the key to us staying together for 25 years. we laugh a lot in our house. And realize that we can't take life too seriously or ourselves mostly ourselves too seriously. So it's definitely been an absolute joy and I hope for another 25 more years plus of healthy living together.

yeah, I feel blessed. And then another big milestone in our house was that my baby turned 21 years old. she's my baby and I have a son too. He's 22. They're 14 months apart. So, the early years were absolutely crazy. But now I've got a 21 and a 22-year-old, and it just blows my mind.

Like how did time go by so quickly? don't feel old enough to have kids in their early twenties. but they're great kids. Super happy. my baby is building her career in the medical aesthetics field and she's finishing up her program end of October. Mama's real proud and I'm hoping that she eventually will be starting her own business.

And then my son is still in university, still figuring out what he wants to do. So still proud. Nonetheless, both of them are, doing really well. You know, if you're a woman who is at that stage in life as well, I mean, we know that empty nest syndrome is a thing. And if you are sitting on a big business idea and you're not sure if you're too old to start something new, I want you to know that you're not.

I started my business at 46. I had the fear. I totally had the fear. I felt like, Oh my God, I'm too old. I'm too fat. I'm too ugly. Who's going to want to hear me? But it's so not the case. I promise you that life just begins at our age, right? At midlife, it's just starting. You know, we've raised our kids.

They're off. We've done a good job. They're off doing their own thing. And now it's time for us. And if starting a business is something that you always wanted to do, or maybe you've started but you just can't seem to get it off the ground. I want you to know that I'm here to support you. things worked out really well for me and I'm here make sure that they're going to work out really well for you too.

Okay, so let's get into it today. Today I want to talk about the Profit Method Framework and how it is designed to support you on your business journey. The great thing about this framework is that you can jump into it exactly where you are in the process. I am on a mission to help you build your wealth through your business and want to meet you where you are at.

So the reason I designed the profit method framework is that I was noticing that a lot of women, and I mentioned this last week in the podcast, a lot of women were coming to me wanting to work with me and thinking they had a money problem, but they really had a sales problem. So like it's a common throughline what's going on in the business.

And we did talk about stats last week as well. And so many women business owners out there are making less than 100, 000 per year. And we want to change that enough is enough. I want to see more women hitting that seven-figure plus revenue in their business. Currently, It's at 1.9 percent percentage of women.

There are over 12 million women-owned businesses in the U. S. alone, and only 1. 9 percent of those women-owned businesses are making more than a million dollars per year. We want to change that. So, this framework called the Profit Method Framework, Has been designed to guide you step by step through the process of turning your ideas into a thriving business I believe that business ownership is the fastest way to build wealth Especially if you're a woman who is sitting there thinking okay I'm at midlife My office nine to five job nine to five job is no longer You know, meeting my needs, don't feel happy.

feel overexposed, whatever the case may be. And you're like, and you're looking at your retirement savings and you're thinking, Oh, things aren't looking as great as I hoped they would at this age. I believe business ownership when done correctly can be a great way to build your wealth. So the profit method framework is here to help guide you through the steps that you need to take to build your wealth.

So whether you're just starting out or you're looking to scale your business, this framework will provide you with the structure and insights you need to succeed. Okay, so let's dive into each step of the framework. I'm going to give you an overview of each step of the framework and explore how it can help you achieve your goals today. This is just a, very high-level overview. In the following weeks, I'm going to take each step and go a little further with you.

So for the first step, it's mindset. That is the foundation of the profit method. It's the P is for perspective, right? So in the journey of entrepreneurship, your mindset is literally the bedrock upon all of your successes or failures are built before you can achieve anything. You must first believe that you can.

And that belief is the essence of a positive and resilient entrepreneurial mindset. I can't tell you how important a mindset is because as an entrepreneur. We are putting ourselves out there. you know, we work really hard on what we're doing. We put together offers, we put ourselves out there and we open ourselves to vulnerability and what comes with vulnerability, rejection.

Rejection comes sometimes, right? Not all the time, but there's a lot of rejection. So you have to be prepared for it. So a mindset is more than just positive thinking. It's about cultivating a mental framework that empowers you to take risks, persevere through challenges, and adapt to change. In the profit method, we begin with mindset because that is the critical first step in transforming your ideas into reality.

Mindset. Everything begins with a mindset. Without the right mindset, even the best strategies, plans, and opportunities can fall flat. You have to be in the game. So with a resilient and growth-oriented mindset, you can overcome obstacles, learn from your failures, and keep moving forward no matter what comes your way.

Okay. Step two is the office to entrepreneur. I call this the reinvent. And what I mean by that is because so many women are leading the way Gen X women, 68 percent of women-owned businesses that started in 2023 were Gen X women. We are leading the way and making that transition from a stable, predictable office job to the unpredictable world of entrepreneurship.

And it can be thrilling and it can be terrifying. And I have put together from office to entrepreneur, that's trademarked. It's my IP. I put together this course to help you make that transition. And that's why it's step two in the profit method. But starting your own business is also one of the most empowering decisions you can make.

And from office to entrepreneur is all about helping you make that leap with confidence. So in this step, we focus on helping you identify your core strengths, Your passion, and the unique value that you are bringing to the table. It's about leveraging the skills and experience that you've gained in your career to start a service-based professional business.

We cover the essential steps to setting up your business from creating a solid business plan to understanding the legal and financial aspects of entrepreneurship. The goal here is to build a strong foundation. So that when you step into the entrepreneurial world, it's not just about winging it. I don't want you to just leave your job and start your business.

The reality is that many businesses fail within the first two years. It's so smart to start your business as a side hustle and then work as your business becomes a viable business work towards leaving your nine-to-five and becoming a full-time entrepreneur. I would never tell somebody to just quit their job and start a business.

That's too difficult. You don't know when your business is going to take off. It could take off within a year or it could take five years to build. So you have to be prepared. the goal here is to build that strong foundation so that when you're ready to step into the entrepreneurial world, you're not just winging it.

You're prepared, focused, and ready to succeed. Step three is outreach. So P R O, outreach, we're at right now. And that is with marketing and sales. So once you have made the transition, you've proven your business offer, you're out there making money, and you have to master marketing and sales. You might have the best product or service in the world, but if you aren't marketing it effectively.

No one will know about it and it certainly won't sell. So part of step two is making sure that you find the right offer that people want and people will pay for it to get help with. So in step three we dive deeper into the understanding of your target audience, craft a compelling value proposition and really work on the sales.

Sales is so important and this is where so many women struggle with is putting that offer out there. You have to pitch yourself. You have to talk about yourself. You have to, promote yourself. And if you're not willing to do that, you're going to really have a hard time in business. And I speak from experience.

When I first started, I struggled with sales. My background is, my first occupation was a social worker. So we never asked for money and my second occupation, which I've spent more than 20 years in. Is being a CPA, you know, I'm in the accounting world and I always worked back office, so I was never selling things.

So when it came to actually sell for She Means Profit, I struggled with that for a bit, but I also realized that if I didn't get my act together, my business would fold. So I made a very concerted effort to get out there and get comfortable with sales and selling. So I pass this information along to you, not to judge you, but to help you, because I want to see you succeed.

That is my main focus at She Means Profit. The more women we have in that 2 percent category, the happier I'm going to be. So we look at your proven sales strategies and we don't rely on sleazy tactics, but we focus on building genuine relationships with your customers and clients. The emphasis is on creating a sales process that feels natural, authentic, and is effective.

You have to get comfortable with making money. So many women are told it's greedy to make money. I'm a greedy person or I'm selfish if I want to make money or, I just need to make enough money to survive. We really, you know, part of that is mindset. And part of that is just taking action and doing it because, you know, there's a lot of good that women do when they make money, a lot of good.

And if you want to hear about that, you can listen to last week's episode where I really dove into it. Step four is the cash confident framework course. So this is basically where I started. She means to profit from building the cash confident framework because I really felt, and I still do. I feel that a lot of business problems is coming from the fact that a lot of business owners aren't managing their money well in their business.

And when you manage your money well in your business, you can make more money. So I was teaching what you needed to know. And I still do. I teach what you need to know at the business owner level, so that you can make informed, profitable decisions for your business every day.

So managing your finances effectively is key to staying in business and growing your business. So many entrepreneurs overlook this critical area and that leads to a lot of cash flow problems and ultimately business failure. It's really sad. 82 percent of businesses fail due to financial mismanagement.

So the cash-confident framework is designed. To give you the financial literacy you need not only to survive but to financially thrive in your business. We cover everything from setting your business budget up to understanding your profit margins managing your expenses and forecasting your revenue.

So that you plan for growth. This step will put you in power. of taking control of your business finances so that you are no longer making just enough money, you're making a lot of money. So remember, it's not just about earning money, it's about keeping and growing what you earn. So F in the profit method stands for finances.

Okay, now we're going to move on to the I for profit. In profit and the I stands for influence and that is thought leadership. So as you establish your business, it's important to position yourself as a leader in your industry. So that's why step five is thought leadership. Becoming a thought leader means sharing your expertise and insights in a way that sets you apart from the competition and builds your credibility.

Thought leadership is actually a really good marketing strategy. We talk a lot about marketing is that there's a lot of noise online and you really want to find a way to stand out from the noise because if you're not online for your business, then you're probably losing a lot of business. If you are not online, I highly recommend that you get online because you're missing out.

But. There's also a challenge with online marketing. Digital marketing is what they call it. Standing out from the noise is really crucial to do. So thought leadership is just elevating your authority and credibility, as a professional service. business, I have no doubt that you've got some really sharp ideas in your head that you really need to be sharing with the world.

So in this step, we explore strategies for creating thought leadership content, speaking at events, and engaging with your audience through various platforms. So whether it's through blogging, podcasting, and social media, Or becoming the go to expert in your field, or elevating even further by authoring books, publishing on, large media outlet websites.

elevating through speaking engagements, and TEDx talks, there are so many different ways that you can get your thought leadership ideas out into the world. And I'm here to guide you on that. The goal here is not just to be in business, but to lead in it. You want to attract opportunities, partnerships, and loyal customers who will see you as the best in the game.

So now we're looking at the last letter of profit is T. So T stands for thrive. So this is where the cash catalyst comes into play. so through the profit method, we focus on, you know, building your business, making money through your business, managing your cash, optimizing the profit in your business. Elevating your authority through thought leadership. And now it's time to take that money that you are earning. Maybe you're happy at where you are in your business and you don't want to grow your business anymore.

Take that profit that you are earning and invest it into your personal financial portfolio. We want to make sure that you are handling your personal finances. As well as you're handling your business finances. That's where Cash Catalyst comes in. That's where we want you to thrive. So you've laid the groundwork, built your brand, established your financial footing, and now it's time to accelerate the growth of your net worth.

So we will explore advanced strategies for investing your money.

So invest your money in building your Personal budget, paying back any debt that you may have, and ensuring that you are insured properly for your, not just your business, but for yourself, because you are your biggest financial asset. You want to make sure that you have that insurance to cover it.

 forbid anything happen to you. and you want to invest your money so that you have a long, prosperous, enjoyable retirement. So there you have it. There's the profit method framework. So these six powerful steps are designed to take you from where you are now to where you want to be. And if you're listening to She Means Profit, chances are that you want to be a successful entrepreneur.

With a financially thriving business and a secure financial future. So remember, each step of the framework is crucial. And the journey won't always be easy. But with the right mindset, tools, and strategies that I have provided for you, you can achieve incredible things. I am going to be here with you every step of the way, providing guidance, insight, support, and inspiration to keep you moving forward.

My goal is to get you to that 2%. that's what will bring me joy truthfully. So thank you for tuning into this episode of She Means Profit. If you are excited to implement this into your business, be sure to hit the show notes and I will leave you the link to the course list and you can see where you fit in. If courses aren't your thing, be sure to book a free strategy call with me and we can talk about how I can best support you if we're a good fit to work together and where you essentially should start in the framework, start working on.

So until next time, keep dreaming big, taking action, and building the financial life that you deserve.