The Profit Pillars Show by Evolved Finance

In our first ever Entrepreneur Spotlight interview, we're joined by Caitlin Bacher. Caitlin is the expert when it comes to creating profitable Facebook groups and has built a thriving six figure business (soon to be seven figures) teaching other entrepreneurs how to get the most out of their Facebook groups. She shares the critical phases her business has gone through to get to where she is today,...

To run a successful online business, you need to keep your monthly expenses under control and invest in the parts of your business that will provide the best return. But what most entrepreneurs don't realize is that they also need to make smart decisions with their personal finances too. Unless you have a business loan or startup capital, which very few online/lifestyle business do, you're going t...

Because so many business coaches and gurus are teaching aspiring entrepreneurs how to create product based businesses, we feel less attention gets put on the benefits of starting and growing a service based business. Especially for people who have little or no business experience, creating a service instead of a product can be a great way to generate initial cash flow while learning the ropes of r...

With online businesses, launches are where it's at. It doesn't matter if you're selling an online course, a group coaching package or a piece of software, you're going to have to plan a "launch" one way or another. As lucrative as a launch based strategy can be, it can be a roller coaster ride when it comes to your cash flow. The ups and downs in revenue can make this type of business extremely st...

Scaling is a big-time buzzword in the entrepreneur world. It essentially means a business is trying to figure out how they can setup their operations to serve a larger quantity of customers and clients. For small online businesses, that almost always entails hiring people, which can seem like a scary endeavor. It not only means learning how to delegate work and manage others, but it also means tak...

When entrepreneurs think about getting a big tax bill, it usually evokes a feeling of terror and dread. The reality is, all entrepreneurs should be crossing their fingers that every quarter (or year) they are shelling out big time bucks to the IRS. That's why in episode 10 of The Bottom Line, we share some tough love about why no entrepreneur should be caught off guard by the size of their tax bil...

The internet has made starting a business more accessible than ever. That's why many coaches and gurus urge aspiring entrepreneurs looking for a business idea to start with their passion. Pursuing your passion isn't bad advice, but that doesn't mean it's good advice for everyone. Building a business around an opportunity can be more financially lucrative while still being fulfilling and fun. That'...

One of the first monthly software subscriptions that online entrepreneurs invest in is their email marketing software. For a large portion of online businesses, growing an email list is their best option for connecting with a targeted audience and generating sales. This can make deciding on the right email marketing software for your own business seem very daunting, no matter your experience level...

Facebook ads have been a hot topic for online entrepreneurs for quite a while now. Marketing gurus all over the web tout Facebook ads as the best way to scale any type of online business. We're not saying Facebook advertising isn't a valuable marketing tool, but if it's such a fantastic way to skyrocket your revenue to new heights, then why don't we see all of our clients spending thousands of dol...

Online businesses are typically pretty inexpensive to get started. While brick and mortar businesses take tens (and sometimes hundreds) of thousands of dollars in capital to get started, an online business can get going for a couple hundred bucks. But the one expense online entrepreneurs cannot escape are merchant fees. That's why in this episode, we examine what most online businesses should expe...

Affiliate partnerships are a powerful way to generate revenue with relatively little financial risk. They can also be a ton of work to manage and support. That's why in this episode, we examine how common it is for online businesses to work with affiliates, how affiliate payouts can affect the profitability of an online business, why certain business models gravitate towards affiliate partnerships...

You can't run an online business without software. Period. It's typically the first monthly reoccurring expense a new online business will take on. It's also an expense category that can get out of control really quickly. That's why in this episode, we look at the software almost every online business needs to invest in, how much you should expect to be spending on software each month, why smaller...

Refunds happen. It's inevitable. One of your current or future customers is going to want their money back, and you're going to hear a thousand different reasons as to why. That's why in this episode, we look at the rarely talked about topic of refunds. We share why it's important to keep track of refunds, what a healthy refund rate might look like for an online business, and what you should expec...

Online entrepreneurs love to focus on how much revenue their businesses generate, but in the end, what truly matters is profit. That's why in this episode, we talk about what profit looks like for an online business, how to calculate the profit margin in your own business, why some online businesses have so much potential for huge profit margin, what the ideal profit margin is for the clients we w...

Ever wonder how much earning potential your online business has? Every business owner does, but in the online space, it's hard to know what's really possible, especially if you're selling to a niche market. Not every online business needs to be a multi-million dollar enterprise, which is why in this episode, we examine what an average "successful" online business looks like in terms of revenue, ex...