Have you ever had a friend look at a business and randomly throw out numbers that made it seem like that business owner must be making serious bank? We’ve experienced that many times, and know from conversations with operators and owners in those industries that their real profitability is often far, far less. The reason is often that there are unique challenges to profitability in almost every industry and so we wanted to create a space for entrepreneurs from across industries and markets to discuss the challenges to profitability in their industries.

Michael Duke

As a DJ, there is so much equipment out there that you can purchase to up your game. It is enticing to get the next new controller, some club cannons, or a photobooth setup. So many of these things can help raise your profitability. However, often times, you end up spending a lot of money on something that does not show the same return. As I’ve grown, I’ve learned to do more research on my purchases. Moreover, I’ve found it doesn’t pay to cut corners in cost. As the saying goes “You have to spend money to make money”. Read more>>

Juan Cosme

I would say separation and consistency. Being in the entertainment industry we have to constantly separate our business model from similar businesses and be consistent in our offerings across the range of customers we appeal to. We have to think cutting edge and simplicity often to find the perfect balance in our business model. Read more>>

Dana Snyder

Over the past few years, I’ve really leaned into building a speaking career primarily within the nonprofit sector. As fellow keynote speakers and workshop hosts know, we spend sometimes weeks researching and building new materials for different audiences. Read more>>

Adie Buchanan

Staying ahead of trends. Being part of trends without letting trends over sweep your business and identity of the business. Being able to participate in trends and still keep yourself in your business. Read more>>

Matty Parson

There are a lot of challenges for a small business, but the biggest one is keeping up with big brands and changing consumer habits. In the past decade (and especially after Covid-19) consumers have changed how they shop. Most of the buying process is online, fast, and most importantly, convenient. For example, big brands offering same-day shipping has really put pressure on smaller retailers to meet the same standard, since consumers are used to it now. Read more>>

Lillian Hernandez

Life coaching is a service. A service available to those who genuinely want to improve their lifestyles and thinking. Many people claim to want more or better for themselves, but when it comes time to do the work consistently, many people fall back to old patterns. Healing is no easy task, and it is very uncomfortable. A life coach will ask the hard questions and won’t tell you what to do. Read more>>

Allie Launius

One of the biggest challenges to profitability in the vintage furniture industry is that big leaps can get large payouts, but the risks are always so high! With higher end pieces, the profit margins are higher, but often come with a higher initial cost, and may take longer to sell. It can be so worth it, but paying attention to cash flow and being realistic in knowing how long a piece can take to sell is key. Read more>>

Courtney Fretwell

The biggest challenge to profitability in the podcasting industry is the perception you have to have a massive audience to make money podcasting. The simple answer is no. You don’t need a huge audience to be extremely successful and profitable in podcasting. You don’t need to be among the top shows to make money. You can monetize your podcast with a relatively small audience. The best way to do that is to find sponsorships who identify with your listeners. Read more>>

Zach Petrone

Being a gym owner comes with many challenges related to finances of the business. People often forget that we are in the service industry, and members/clients can come and go. With the ups and downs of that part of the business, you need to be prepared to look at overhead consistently and know what your ceiling is for staying profitable and actually making money! Read more>>