Why Is My $1 Million Service-Based Business Broke?: Episode 10

Savvy or Surrender - Your Guide to Profit, Cash Flow, and Tax Savings

Episode 10 – Why Is My $1 Million Service-Based Business Broke?
❗Don’t forget to download the episode — that way you never miss the game-changing cash flow tips that keep your business running strong.
Description:
In this milestone 10th episode of The Savvy or Surrender Podcast, Host Steven Young dives deep into the hidden reasons why even seven-figure service-based businesses can struggle with cash flow. Learn why big revenue doesn’t always mean big profits, the most common financial mistakes business owners make, and actionable steps to finally take control of your money. If you’ve ever wondered where your money is going—or why your bank account doesn’t reflect your hard work—this episode is for you.
Show Notes
00:00 – Introduction
Steven opens the episode, celebrating the 10th show milestone.
Importance of podcast consistency and audience engagement.
00:45 – The Illusion of Success
Big revenue doesn’t guarantee cash in the bank.
Revenue ≠ Profit. Many business owners struggle with cash flow despite high sales.
02:13 – Overspending on Growth
Common mistake: investing in growth (equipment, staff, offices) before profits justify it.
Real-life examples: Boston Market, Mattress Firm.
07:16 – Poor Cash Flow Management
Watching the bank balance instead of managing cash flow.
Importance of systems like Profit First and cash flow forecasting.
08:47 – Underpricing and Overdelivering
Fear of charging what you’re worth leads to exhaustion and underpayment.
The “Savvy Ritz” concept: providing first-class service at budget prices is unsustainable.
11:48 – Being Reactive on Taxes
Treating taxes as a once-a-year event leads to surprises and financial stress.
The wealthy plan for taxes all year.
14:14 – Lack of Financial Clarity
Outdated or messy bookkeeping leads to poor decision-making.
Importance of reconciled accounts and understanding financial statements.
16:54 – The Savvy Fix: How to Stop Being Broke at a Million
Adopt Profit First: pay yourself first, set up multiple bank accounts.
Know your real numbers: track profit margins, expenses, and trends.
Stop buying growth without ROI.
Schedule regular money meetings.
Build a cash cushion (3 months of expenses).
23:32 – From Operator to CEO
Shift from chasing money to controlling it.
Take the Savvy Tax Strategies quiz and get free Profit First chapters.
Book a Savvy Path to Cash assessment.
25:28 – Closing
Steven thanks listeners, encourages reviews and engagement.
Teaser for next episode.
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