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Profit Points Podcast

Megan Schwan

What nobody tells you when you start a business is that the financial stuff is actually learnable. You don't have to be good at numbers or have a BA in business. All it requires is someone willing to explain it like a human being instead of an accountant.


That is what Profit Points is.


I am Megan Schwan, founder of Sidekick Accounting, certified Profit First Professional, single mom, and the person my clients call when the numbers stop making sense. Every week on this show, I take one financial concept and make it completely accessible — profit margins, tax strategy, cash flow, pricing, the whole picture — with real numbers, real examples, and language that actually makes sense. 


Every episode ends with one clear action step you can take immediately, because information without application is just noise. And to build a successful, sustainable business... you as the CEO need to take action! 


If you have been running your business on gut feelings and bank balance checks, and you are ready to actually know what is happening financially, this show is for you.


New episodes every week. Let's get into it.

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  • English

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  • Thursday · 7 min

    Give Every Dollar a Job: How Target Allocation Percentages Build a More Profitable Business

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to look at your bank balance and simply ask, "Is there enough?" But without a clear plan for where your revenue should go, money can disappear into expenses before you've had a chance to intentionally fund profit, taxes, or your own pay. That's why each week on Profit Points, I break down one financial or business concept using practical examples and simple strategies to help you understand your numbers, improve profitability, and build a business that truly works for your life. In this episode, we're talking about Target Allocation Percentages, or TAPs, and how they can completely change the way you manage the money coming into your business. Instead of allowing revenue to flow into one account and letting expenses determine what remains, the Profit First methodology gives every dollar a destination. Megan explains the five financial buckets used in the system, how target percentages change as your business grows, and why these percentages should serve as a direction rather than a rigid constraint. This episode answers questions like: What are Target Allocation Percentages (TAPs)? Why should every dollar of business revenue have a specific destination? What are the five financial buckets in the Profit First system? How much should a small business allocate toward profit, owner's pay, taxes, and operating expenses? Why do target allocation percentages change as a business grows? What is the difference between current allocation and target allocation? What should you do if your current percentages don't match your targets? How can you gradually move your business toward healthier financial allocations? Why is trying to make dramatic financial changes all at once often counterproductive? How can separating money into different accounts create greater financial clarity? Megan explains that the Profit First framework separates revenue into five destinations: profit, owner's pay, taxes, operating expenses, and the income or holding account where revenue initially lands. The target percentages provide a benchmark for how that money should eventually be distributed. For example, a business generating between $0 and $250,000 in annual revenue may use a benchmark of 5% profit, 50% owner's pay, 15% taxes, and 30% operating expenses, while the target profit percentage increases as revenue grows. The important part, however, is not trying to force your business into those percentages overnight. Megan explains that most businesses won't match their target allocations immediately—and that's completely normal. Instead, you start by calculating your current allocation and gradually close the gap, often by adjusting percentages by just one or two points per quarter. Sustainable financial change is more valuable than dramatic changes that your business cannot maintain. This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and anyone who feels like their business brings in money but they never seem to know where it all goes. If you're constantly checking your bank balance, wondering whether there's enough to cover expenses, or finding yourself spending money simply because it's available, this episode will help you start thinking about your business finances differently. Target Allocation Percentages aren't meant to become another restrictive financial rule. They're a design tool. They give your business a direction and help you make intentional decisions about where your money should go. The goal is to gradually build a business that is designed for profit rather than one that simply hopes profit is left over at the end. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's constantly wondering where their money went or wants a more intentional system for managing their revenue, share this episode with them. This Week's Action Step Calculate your current allocation percentages for the past month. Look at your total revenue and determine: What percentage went toward profit? What percentage went toward owner's pay? What percentage went toward taxes? What percentage went toward operating expenses? Write those percentages down and compare them with the appropriate Profit First Target Allocation Percentages. Then identify the biggest gap between where you are and where you want to be. Don't try to fix everything at once. Choose one small adjustment you can begin making and work toward your target gradually. Resources Mentioned Profit First Methodology Target Allocation Percentages (TAPs) Current Allocation vs. Target Allocation Sidekick Accounting Profit First Implementation & Coaching Free Strategy Call Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • Tuesday · 9 min

    The 5 Financial KPIs Every Small Business Owner Should Track

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to become overwhelmed by dashboards, reports, analytics, and endless numbers that seem like they should tell you how your business is doing. That's why each week on Profit Points, I break down one financial or business concept using practical examples and simple strategies to help you understand your numbers, improve profitability, and build a business that truly works for your life. In this episode, we're talking about financial KPIs and how to identify the numbers that actually matter to your business. Tracking everything isn't the goal. In fact, too much information can create analysis paralysis and make it harder to know what action to take. Megan walks through five financial KPIs that can give small business owners a clearer picture of their financial health, growth, customer economics, and owner compensation—and explains how watching the trends can turn numbers into actionable business decisions. This episode answers questions like: What are KPIs and why do they matter for small businesses? How many financial metrics should a business owner actually track? What is monthly recurring revenue (MRR)? Why is recurring revenue so valuable for business decision-making? How do you calculate your profit margin? What does profit margin tell you about the health of your business? What is client acquisition cost (CAC) and why should you know yours? How do you calculate average revenue per client? What can average revenue per client tell you about pricing and upselling? Why should business owners track owner pay as a percentage of revenue? How can you use multiple KPIs together to identify problems or opportunities? Megan's five recommended financial KPIs are monthly recurring revenue, profit margin, client acquisition cost, average revenue per client, and owner pay as a percentage of revenue. Each metric answers a different question about the business, from how predictable your revenue is to how efficiently you're acquiring customers and whether you're compensating yourself appropriately. The episode also highlights why looking at individual numbers isn't enough. For example, if monthly recurring revenue stays flat for several months while client acquisition costs continue rising, that's a signal worth investigating. The power of KPIs comes from seeing the relationship between the numbers and watching how they change over time. This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, service providers, and anyone who feels overwhelmed by the amount of data available to them. If you've ever wondered which numbers you should actually be tracking, relied mostly on your bank balance to judge business health, or opened a dashboard full of metrics without knowing what to do with them, this episode will help you simplify your approach. You don't need 30 metrics to understand your business. You need three to five numbers that you understand, monitor consistently, and use to make decisions. Megan's goal is to help you find that middle ground between tracking everything and relying entirely on gut instinct. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's drowning in dashboards and doesn't know which numbers actually matter, share this episode with them. This Week's Action Step Choose three of the five KPIs discussed in this episode and calculate them for last month. Your options are: Monthly recurring revenue (MRR) Profit margin Client acquisition cost (CAC) Average revenue per client Owner pay as a percentage of revenue Write your three numbers down somewhere you can easily access them. Then calculate those same three KPIs again next month. Don't focus on whether one month's number is "good" or "bad." The real value comes from watching the trend over time and using changes in those numbers to ask better business questions. Resources Mentioned Monthly Recurring Revenue (MRR) Profit Margin Client Acquisition Cost (CAC) Average Revenue Per Client Owner Pay as a Percentage of Revenue Profit First Methodology Sidekick Accounting Financial Strategy Call Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • September 10 · 10 min

    How to Read Your P&L: The 3 Numbers Every Business Owner Should Track

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how overwhelming financial statements can feel when nobody has ever taught you how to actually read them. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, improve profitability, and build a business that works for your life. In this episode, we're breaking down one of the most important financial documents in your business: the profit and loss statement, or P&L. Your P&L tells the story of how much money came into your business, what it cost to deliver your products or services, what it cost to operate the business, and what was left over as profit. Megan walks through each section in plain English so you can stop looking at your financial statements like a foreign language and start using them to make better business decisions. This episode answers questions like: What is a profit and loss statement? What is the difference between a P&L and an income statement? What does revenue tell you about your business? What is COGS, or cost of goods sold? What is the difference between gross profit and net profit? What are operating expenses and how do they affect profitability? Why is your bottom-line net profit more important than revenue alone? What is gross profit margin and why should business owners track it? What is net profit margin and what should you generally aim for? Which expense category should you be watching every month? How can your P&L help you make better business decisions? Megan breaks the P&L into three main sections: revenue, cost of goods or services sold, and operating expenses. Revenue shows what came into the business. COGS captures the direct costs associated with delivering your products or services, and subtracting those costs from revenue gives you gross profit. Operating expenses represent the overhead required to run the business, and subtracting those expenses from gross profit gives you the net profit or net loss. The episode also explains why revenue isn't the same thing as what your business actually made. Megan compares it to a paycheck: earning $5,000 gross doesn't mean you took home $5,000. In the same way, a business generating significant revenue can still have very little left after direct costs and operating expenses. Net profit is the number that reflects what the business actually made before considering other items such as certain loan and credit-card payments. This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, product-based businesses, and anyone who has ever opened a P&L and immediately felt confused or overwhelmed. If you've been relying entirely on your bookkeeper or accountant to tell you whether your business is doing well, this episode will help you become more confident reading the numbers yourself. Understanding your P&L isn't about becoming an accountant. It's about becoming a better business leader. Once you understand what the numbers represent, you can begin noticing trends, questioning growing expenses, and making decisions based on what's actually happening inside your business. Megan's message is simple: your P&L isn't a judgment—it's a map. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who has no idea how to read their P&L, share this episode with them. This Week's Action Step Pull your most recent P&L—or ask your bookkeeper to send it to you—and find these three numbers: Your gross profit margin Your net profit margin Your largest expense category Then look at whether each number is increasing, decreasing, or staying relatively consistent. Don't judge the results. Start by understanding them. If something has changed significantly, make a note of it and investigate what's driving the change. Megan recommends tracking these three numbers consistently because they can tell you a tremendous amount about your business, particularly if you aren't already tracking a large number of KPIs. Resources Mentioned Profit & Loss Statement Gross Profit Margin Net Profit Margin Sidekick Accounting Profit First Methodology Financial Strategy & Bookkeeping Support Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • September 8 · 9 min

    Your Numbers Are Talking: How to Conduct a Financial Performance Review

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to focus on sales, clients, operations, and everything that needs your attention today while putting off the financial review that tells you what is actually happening inside your business. That's why each week on Profit Points, I break down one financial or business concept using practical examples and simple strategies to help you understand your numbers, improve profitability, and build a business that truly works for your life. In this episode, we're talking about financial performance reviews and why they should become a regular part of how you lead your business. Your financial statements aren't just records of what already happened—they contain information that can help you make better decisions about what's happening next. Megan walks through why business owners need to stop treating financial reports as something to fear, how to look at trends instead of isolated numbers, and how a regular review can help you identify changes in revenue, profit margins, and expenses before they become bigger problems. This episode answers questions like: What is a financial performance review? Why should business owners regularly review their financial statements? What can your profit and loss statement tell you about your business? Why is looking at 12 months of financial data more useful than looking at one month? How can you tell whether your revenue is trending up, down, or staying flat? What does an improving or declining profit margin tell you? Which expense categories should business owners pay close attention to? How can financial trends help you make better business decisions? Why shouldn't business owners treat financial reviews like an audit or punishment? How can reviewing your numbers become a regular CEO habit? A financial performance review gives you the opportunity to step back from the day-to-day activity of your business and look at the bigger picture. Instead of reacting to individual expenses or celebrating revenue increases without context, you can examine how your income, expenses, and profit are changing over time. Megan emphasizes that the goal isn't to judge yourself or your business—it is to start listening to the information your numbers are already giving you. This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and anyone who knows they should be paying more attention to their financial performance. If you've ever opened your P&L and immediately felt overwhelmed, avoided your accounting software because you didn't know what to look for, or focused on revenue without understanding what was happening to your profit, this episode will give you a simple starting point. The goal isn't to become an accountant. It's to become a business owner who understands enough about the numbers to make informed decisions. The more you practice reviewing your financial information, the more familiar you'll become with your business patterns—and the easier it becomes to recognize what needs attention. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an opportunity to understand your business numbers better. And if you know another business owner who avoids their financial reports or isn't sure what their numbers are telling them, share this episode with them. This Week's Action Step Schedule your first real financial performance review this week or next week. Block 45–60 minutes and pull your profit and loss statement for the last 12 months, broken down month by month. Then answer these three questions: Is my revenue trending up, down, or staying flat? Is my profit margin improving or eroding? Which expense category has grown the most over the last six months? Write your answers down. Don't try to solve everything immediately. This is your starting point. Once you can see the trends, you can begin asking better questions about what is driving them and what decisions you may need to make next. Resources Mentioned Profit & Loss Statement 12-Month Financial Performance Review Sidekick Accounting Profit First Methodology Financial Strategy & Profitability Support Free Strategy Call Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • September 3 · 9 min

    Profit First Explained: How to Build a Business That Pays You First

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to run a business where revenue comes in, expenses get paid, and profit becomes whatever happens to be left at the end. That's why each week on Profit Points, I break down one financial or business concept using practical examples and simple strategies to help you understand your numbers, improve profitability, and build a business that truly works for your life. In this episode, we're talking about one of the most impactful frameworks Megan uses with small business owners: the Profit First methodology. Traditional accounting follows the formula of revenue minus expenses equals profit. While that formula works mathematically, Megan explains why it can create a behavioral problem for business owners: when profit is whatever remains after expenses, there is often very little left. Profit First flips the formula by taking profit out first and requiring the business to operate on what remains. This episode answers questions like: What is the Profit First methodology? Why does the traditional revenue-minus-expenses approach often leave business owners with little profit? How does Profit First change the way you manage business revenue? Why should profit be allocated before operating expenses? What are the five core Profit First bank accounts? What are Target Allocation Percentages (TAPs)? What are Current Allocation Percentages (CAPs)? How can separating money into different accounts change spending behavior? What happens when your current operating expenses are higher than your allocation allows? How can a business owner start using Profit First even when profit margins are very thin? Why does gradually increasing your profit allocation create sustainable change? Megan walks through the five core accounts used in the Profit First system: the Income account, Profit account, Owner's Pay account, Tax account, and Operating Expenses account. Revenue initially enters the Income account and is then distributed among the other accounts according to the business's allocation percentages. This creates boundaries around what the business can actually spend and gives every dollar a specific purpose. The episode also breaks down a practical $15,000 monthly revenue example. Under the example allocation, $1,500 goes toward profit, $7,500 toward owner's pay, $2,250 toward taxes, and $3,750 toward operating expenses. Instead of allowing the business to spend whatever is available, the system forces the business to operate within the amount allocated for expenses. And that is where the real value of Profit First comes in. If your operating expenses don't fit within your allocation, the answer isn't automatically to take more money from another bucket. The system forces you to ask better questions about your expenses, pricing, contractors, subscriptions, and revenue. Over time, the goal is to bring actual expenses in line with the target allocations by cutting unnecessary costs, renegotiating expenses, or increasing revenue faster than expenses. This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and anyone who is generating revenue but struggling to consistently create profit. If you've ever reached the end of the month wondering where all the money went, struggled to set money aside for taxes, or told yourself that you'll start taking profit “when the business makes more,” this episode will give you a different way to think about your money. Megan also addresses the common objection that a business's margins are too thin to allocate profit. You don't have to start with 10%. Starting with even 1% can begin building the habit. From there, you can gradually increase the allocation by one or two percentage points at a time until you reach your target. The goal isn't perfection overnight; it's consistent progress that eventually produces transformational results. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who is constantly making money but never seems to have any left over, share this episode with them. This Week's Action Step Read or listen to Profit First by Mike Michalowicz and start familiarizing yourself with the framework. If you're ready to take it a step further, look at your current business bank structure and ask yourself: Do I have money specifically set aside for profit? Do I have a dedicated account for taxes? Do I know how much of my revenue is actually available for operating expenses? Am I currently allowing my operating expenses to determine how much profit I have left? If the answer to those questions is uncomfortable, that's okay. The goal is to identify where you are today so you can begin moving toward a more intentional financial system. Resources Mentioned Profit First by Mike Michalowicz Profit First Methodology Target Allocation Percentages (TAPs) Current Allocation Percentages (CAPs) Sidekick Accounting Profit First Implementation & Coaching Free Strategy Call Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • September 1 · 11 min

    The Growth Trap: Why More Revenue Doesn't Always Mean More Profit

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how exciting it can be to see revenue climbing month after month. But bigger numbers on the top line don't always translate into more money in your pocket. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you understand your numbers, improve profitability, and build a business that truly works for your life. In this episode, we're talking about the growth trap—the situation that happens when your revenue increases but your expenses grow just as quickly, or even faster. You may be serving more clients, hiring more people, upgrading your software, investing in marketing, and bringing in significantly more revenue, yet your profit barely changes. Megan explains why this happens, how fixed and variable costs behave as your business grows, and why sustainable growth requires intentional margin discipline rather than simply chasing a bigger top line. This episode answers questions like: Why doesn't more revenue always result in more profit? What is the growth trap and how does it affect small businesses? What's the difference between fixed costs and variable costs? How should variable costs change as revenue increases? Why can hiring too quickly compress your profit margin? How do new employees, contractors, software, and workspace affect profitability? Why is revenue growth alone an incomplete measure of business success? What does healthy, margin-positive growth actually look like? How can business owners know when it's financially safe to add another expense? Why is bookkeeping essential for monitoring profitable growth? What numbers should you watch before making a major hiring or spending decision? Megan walks through a practical example of a business generating $15,000 per month with $4,000 in fixed costs and $4,500 in variable costs, leaving $6,500 in profit—a 43% net profit margin. After adding $3,000 in contractor costs and increasing revenue, the business's margin falls to 35%, showing how revenue can increase substantially while profitability fails to keep pace. The point isn't that hiring or investing in your business is wrong. Growth often requires additional people, systems, tools, and infrastructure. The issue is timing. Before adding a new expense, you need to understand what that expense will do to your margins and whether your revenue growth can outpace your expense growth. That's what creates sustainable, margin-positive growth. This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and growing businesses that are bringing in more revenue but aren't seeing the corresponding increase in profit. If you've ever celebrated a revenue milestone only to realize that your expenses have climbed right alongside it, this episode will help you understand why—and what to monitor before your next growth decision. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's growing quickly but wondering why their profit isn't keeping up, share this episode with them. This Week's Action Step Pull approximately six months of financials from your bookkeeping software and create a simple line chart showing your revenue and expenses over time. Look at whether revenue and expenses are growing at similar rates. Identify whether your expense line is growing faster than your revenue line. If expenses are pulling away from revenue, pause before adding any new costs and investigate what's driving the increase. If revenue is pulling away from expenses, look at whether your margins are expanding as the business grows. The goal is to visually see whether you're experiencing profitable growth or simply growing the size of your business without increasing what you actually keep. Megan emphasizes that watching these numbers needs to become part of your regular CEO process. Resources Mentioned Profit First Methodology Sidekick Accounting Profit & Loss Financial Review Financial Strategy & Profitability Support Free Strategy Call Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

    • Transcript
  • August 27 · 9 min

    Is Your Profit Margin Actually Good? How to Benchmark Your Business

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to look at a profit margin and wonder whether you're doing well or falling behind without having anything meaningful to compare it to. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, improve profitability, and build a business that works for your life. In this episode, we're talking about profit benchmarking and why knowing your profit margin isn't enough. A number can look healthy and still be a warning sign—or look disappointing when your business is actually performing exceptionally well. Without a relevant benchmark, business owners don't have the context they need to know what "good" looks like. Megan walks through general profit margin guidelines for service-based, product-based, retail, and food businesses, explains where to find more specific industry benchmarks, and shows you how to use the gap between your current margin and your target as a roadmap for improvement. This episode answers questions like: What is profit benchmarking and why does it matter? How do you know whether your current profit margin is actually healthy? What is a healthy net profit margin for a service-based business? What profit margins are typical for product-based businesses? Why are product-based businesses generally working with lower net margins? What profit margins are common in retail and food businesses? Where can business owners find reliable industry-specific benchmarks? How do you calculate your current net profit margin? What should you do if your current margin is below your target? What does the gap between your current margin and benchmark tell you? How can you determine whether expenses, pricing, or inconsistent revenue are affecting profitability? Megan emphasizes that the benchmarks discussed are general guidelines rather than universal rules. Your industry, business structure, and stage of growth all influence what a healthy margin looks like for you. She also points out that your own historical performance can be a useful benchmark—comparing where your business is today with where it was six months or a year ago. For service-based businesses such as coaches, consultants, accountants, virtual assistants, designers, and agencies, Megan gives a general healthy net profit margin range of 20–35%. She notes that consistently being below 15% is a reason to investigate what's driving the margin, while consistently exceeding 35% may indicate strong performance—or that the owner isn't paying themselves appropriately or could be strategically reinvesting in the business. For product-based businesses, net margins are typically lower because of the cost of goods sold, with Megan giving a general range of 10–20%, depending heavily on the product category and whether the product is physical or digital. Certain retail categories may consider even 5–10% net profit to be normal. For food and restaurant businesses, margins can be particularly thin, often around 3–9% net, making operational efficiency especially important. This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, product-based businesses, retailers, and anyone who wants a clearer understanding of what healthy profitability actually looks like. If you've ever looked at your profit margin and wondered, "Is this good?" without knowing what to compare it to, this episode gives you the framework you need to answer that question with more confidence. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who has no idea whether their profit margin is healthy, share this episode with them. This Week's Action Step Find the average profit margin benchmark for your specific industry and compare it with your own numbers. Calculate your current net profit margin by dividing your net profit by your revenue and multiplying by 100. Research the average profit margin for businesses in your specific industry and revenue range. Use reliable sources such as industry associations, IRS Statistics of Income data, or financial benchmarking resources such as RMA Annual Statement Studies. Compare your current margin with your target benchmark and identify the gap. Write down one theory for what's driving that gap—whether it's expenses that are too high, pricing that's too low, inconsistent revenue, or a combination of factors. You can't hit a target you can't see. Your benchmark gives you something to aim for, measure against, and celebrate when you reach it. Resources Mentioned IRS Statistics of Income (SOI) Data RMA Annual Statement Studies Profit First Implementation & Coaching Sidekick Accounting Free Strategy Call Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

    • Transcript
  • August 25 · 11 min

    Tax Deductions Demystified: What Small Business Owners Can Actually Write Off

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how confusing tax deductions can be, especially when there is so much conflicting information about what you can and cannot write off. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, make smarter financial decisions, and build a business that works for your life. In this episode, we're talking about tax deductions and one of the biggest misconceptions business owners have about them: that a deduction reduces your tax bill dollar for dollar. Megan explains how deductions actually work, why you should never spend money simply to get a tax deduction, and how proper documentation can help you capture legitimate business expenses while avoiding unnecessary risk. She also walks through several commonly missed or misused deductions and explains the importance of having a clear business purpose behind every expense you claim. This episode answers questions like: What is a tax deduction and how does it actually reduce your taxable income? Why doesn't a $500 deduction mean $500 less in taxes? What is the difference between a legitimate deduction and a risky deduction? What are the requirements for claiming a home office deduction? How should business mileage be tracked and documented? What types of professional development expenses may qualify as business deductions? What business software and tools can typically be deducted? What documentation should you keep for business meals? Why is business purpose so important when claiming an expense? What happens when a business expense is partly personal? Why can poor documentation cause you to lose legitimate deductions? How can proper bookkeeping help you capture deductions you've already earned? Megan covers commonly missed or misused areas including home office expenses, mileage, professional development, health insurance premiums, software and business tools, and business meals. The recurring theme is simple: the expense needs a legitimate business purpose, and you need documentation to support it. This episode is for small business owners, entrepreneurs, freelancers, consultants, coaches, and self-employed professionals who want to understand tax deductions without relying on internet myths or risky assumptions. If you've ever wondered whether something is deductible, forgotten to track a business expense, or simply thrown expenses into a miscellaneous category because you weren't sure what else to do with them, this episode will help you approach deductions more intentionally. Megan also addresses where business owners can get into trouble, including claiming personal expenses as fully business-related, failing to document mileage, treating social meals as business meals, or trying to justify expenses that don't have a clear and legitimate business purpose. The goal isn't to claim everything possible—it's to correctly claim what you legitimately qualify for and have the documentation to support it. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's confused about tax deductions or may be missing legitimate deductions because they're not tracking their expenses properly, share this episode with them. This Week's Action Step Pull your most recent bank statement and credit card statement and review them line by line. Categorize every expense that has a legitimate business purpose. Review anything sitting in a generic or miscellaneous category and determine what the expense actually was. Identify business expenses that are still being paid from your personal account and move those expenses to your business account going forward. Make sure your records clearly communicate the business purpose behind your expenses. Megan's key point is that many deductions aren't missed because the business owner didn't qualify—they're missed because nobody documented them. Take the time to clean up your records now and give your tax preparer accurate information to work with. Resources Mentioned Sidekick Accounting Free Business Strategy Call Tax Planning & Bookkeeping Support Business Expense Tracking chatwithmeg.com Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • August 20 · 10 min

    Decision Fatigue Is Costing You: How Cost Clarity Makes Business Decisions Easier

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how exhausting it can be to make decision after decision without ever feeling completely sure you're making the right call. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you understand your numbers, reduce financial stress, and build a business that truly works for your life. In this episode, we're talking about decision fatigue and the financial uncertainty that often causes it. Business owners make countless decisions every day about hiring, software, pricing, marketing, investments, and expenses. But when you don't have a clear picture of what it actually costs to run your business, those decisions become mental calculations filled with uncertainty. Megan explains how cost clarity can remove that fog, why knowing your financial numbers makes decisions easier, and how creating a simple monthly financial baseline can give you a clear decision-making zone. This episode answers questions like: What is decision fatigue and how does it show up in business? Why does financial uncertainty make everyday business decisions more exhausting? What does cost clarity actually mean? How can knowing your fixed and variable costs reduce decision fatigue? How do you calculate the minimum amount your business needs to generate each month? What is a monthly net and why is it important? How can business owners determine whether they can afford a new expense or hire? Why is your financial margin a powerful decision-making tool? How can Profit First create more clarity around money available for reinvestment? Why should business owners update their monthly financial baseline regularly? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and anyone who feels mentally exhausted by constantly having to decide what the business can or cannot afford. If you've ever spent days worrying about whether you can hire someone, invest in a tool, increase an expense, or make a strategic move because you're unsure what your numbers can support, this episode will help you replace uncertainty with clarity. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's tired of second-guessing every financial decision, share this episode with them. This Week's Action Step Build your monthly net. Create a simple spreadsheet listing every recurring and fixed cost in your business. Add them together to determine your financial floor—the minimum your business needs to generate before considering additional goals such as owner pay, taxes, and strategic profit. The transcript recommends making this number visible and updating it at least quarterly. Once you know your baseline, you'll have a clearer picture of how much financial room you actually have when new opportunities or expenses come up. Instead of asking, "Can I afford this?" based on guesswork, you'll be able to make the decision using actual numbers. Resources Mentioned Profit First Methodology Monthly Net / Monthly Financial Baseline Sidekick Accounting Resources Free Business Strategy Call Financial Clarity & Profitability Support Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • August 18 · 10 min

    The CEO Shift: Why Understanding Your Numbers Changes Everything

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to spend every day serving clients, solving problems, and keeping the business running without ever stepping back to lead it. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you improve profitability, make smarter decisions, and build a business that truly works for your life. In this episode, we're talking about the CEO shift—the moment business owners stop simply working in their business and begin leading it through financial awareness and intentional decision-making. Many entrepreneurs believe becoming a CEO happens when they hit a certain revenue milestone or hire a team. In reality, it begins the moment they take ownership of understanding their numbers. I'll explain why revenue quality matters more than revenue alone, how to evaluate the true profitability of your services, and why thinking like a CEO transforms every business decision you make. This episode answers questions like: What is the CEO shift in business? What's the difference between working in your business and working on it? Why isn't all revenue created equal? What does revenue quality actually mean? How can revenue per hour help improve profitability? Why should business owners measure profitability by service? How do direct costs affect the true value of your services? What financial questions should every CEO be asking? How can understanding your numbers improve strategic decision-making? Why is financial leadership more important than hitting a revenue milestone? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and service providers who want to move beyond constantly reacting to their business and start leading it with confidence. If you've ever measured success only by revenue, struggled to identify your most profitable services, or felt like you're always putting out fires instead of planning ahead, this episode will help you make the mindset shift that separates operators from CEOs. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's ready to stop reacting and start leading strategically, share this episode with them. This Week's Action Step Conduct a revenue quality audit for one of your core services or products. Write down how much revenue the service generates each month or per engagement. Calculate approximately how many hours it takes you and your team to deliver it. Identify the direct expenses required to provide that service. Then calculate your revenue per hour and profit per hour. Compare those numbers to your other offerings and ask yourself whether you're investing your time where it creates the greatest return. Sometimes the most profitable service isn't the one that brings in the highest revenue. Resources Mentioned Profit First Methodology Free Business Strategy Call Sidekick Accounting Resources Sidekick Accounting Facebook Community Financial Strategy & Profitability Coaching Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • August 13 · 11 min

    The Silent Profit Leaks Costing Your Business Thousands Every Year

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to focus on increasing revenue while overlooking the small financial leaks quietly draining your profits. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you improve profitability, make smarter financial decisions, and build a business that truly works for your life. In this episode, we're talking about hidden profit leaks—the recurring habits, overlooked expenses, and operational inefficiencies that slowly chip away at your bottom line. Most businesses don't have one massive financial problem. Instead, they lose thousands of dollars each year through small, preventable leaks like unused subscriptions, scope creep, outdated pricing, and unprofitable clients. I'll walk you through four of the most common profit leaks, explain how to identify them, and share practical ways to plug them before they cost your business even more. This episode answers questions like: What are profit leaks in a business? How do unused subscriptions quietly reduce profitability? Why is scope creep one of the biggest hidden business expenses? When should you raise your prices? How does inflation affect your pricing strategy? Why aren't all clients equally profitable? How can tracking profitability by client improve business decisions? Why do discounted clients often require more time and energy? What systems help protect profit without increasing sales? How can business owners keep more of what they already earn? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and service providers who want to improve profitability without taking on more clients or working longer hours. If you've ever wondered why your revenue keeps growing but your profits don't seem to follow, this episode will help you identify the hidden areas where money may be slipping away. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's working hard but not keeping enough of what they earn, share this episode with them. This Week's Action Step Before your next money date, perform a simple profit leak audit. Review your bank and credit card statements from the last 30 days. Highlight every recurring subscription and separate them into two categories: actively using and not sure. Review your client list and identify any accounts experiencing regular scope creep or requiring significantly more time than they're paying for. Ask yourself when you last updated your pricing and whether it still reflects your experience, costs, and value. Choose one leak to fix this week. Every dollar you stop leaking is a dollar you keep without making another sale. Resources Mentioned Free Business Strategy Call Profit First Methodology Sidekick Accounting Resources Sidekick Accounting Facebook Community Profitability Strategy Support Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • August 11 · 9 min

    Tax Preparation Isn't Tax Strategy: 3 Mistakes Growing Businesses Make

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how exciting it is to see your business grow—but growth also brings new financial responsibilities that many entrepreneurs don't anticipate. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, improve profitability, and build a business that works for your life. In this episode, we're talking about one of the most expensive mistakes growing businesses make: confusing tax preparation with tax strategy. Filing your taxes correctly is important, but it's only looking backward. A true tax strategy helps you make proactive decisions throughout the year that reduce your tax liability, preserve cash flow, and position your business for long-term success. I'll walk you through three common tax planning mistakes business owners make as they scale and explain how a proactive strategy can help you keep more of what you earn. This episode answers questions like: What's the difference between tax preparation and tax strategy? Why should your tax strategy change as your business grows? When should you review your business entity structure? Could an S Corporation election reduce your tax burden? How can retirement contributions lower your taxable income? What business deductions are commonly overlooked? Why is bookkeeping essential for effective tax planning? How often should you meet with your accountant to discuss tax strategy? What questions should you ask your accountant as your business grows? How can proactive tax planning improve long-term profitability? This episode is for small business owners, entrepreneurs, freelancers, consultants, coaches, and growing companies that want to become more intentional with their finances. If your revenue has increased over the past year but your tax strategy hasn't evolved, this episode will help you identify opportunities to reduce unnecessary taxes and make smarter financial decisions before year-end. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's growing quickly but hasn't reviewed their tax strategy, share this episode with them. This Week's Action Step Schedule a proactive tax strategy meeting with your accountant before the end of the quarter. During that conversation, ask: Is my current business structure still the best fit for my level of profitability? Are there tax-saving strategies I'm not currently taking advantage of? Am I maximizing my deductions throughout the year? If you don't have clear answers to those questions, now is the perfect time to build a tax strategy that grows alongside your business. Resources Mentioned 9 Questions to Ask Your Accountant Profit First Methodology Sidekick Accounting Tax Planning Services Free Business Strategy Call Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • August 6 · 11 min

    Why Tax Season Feels Like a Crisis (And How to Make Sure It Never Does Again)

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how stressful tax season can feel when you're hit with a bill you weren't expecting. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, improve profitability, and build a business that works for your life. In this episode, we're talking about why tax season feels like a crisis for so many business owners—and why it doesn't have to. The problem usually isn't the taxes themselves. It's the lack of planning throughout the year. When you aren't tracking your tax liability, setting money aside consistently, or making estimated tax payments, April arrives with an expensive surprise. I'll explain how tax awareness changes everything, why building one simple habit can eliminate tax-season panic, and how proactive planning creates financial peace of mind all year long. This episode answers questions like: Why does tax season feel so stressful for business owners? What's the real cause of surprise tax bills? What is tax awareness, and why does it matter? How much money should business owners set aside for taxes? Why should you have a separate tax savings account? What are quarterly estimated tax payments? What happens if you miss estimated tax payments? How does Profit First help with tax planning? Why is planning throughout the year better than scrambling in April? What simple habits can eliminate tax-season panic? This episode is for small business owners, entrepreneurs, freelancers, consultants, coaches, and self-employed professionals who want to stop feeling anxious every tax season. If you've ever been surprised by a tax bill, struggled to save enough money for taxes, or wondered whether you're handling estimated payments correctly, this episode will help you build a proactive system that reduces stress and protects your cash flow. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's tired of scrambling every April, share this episode with them. This Week's Action Step Build a simple tax-saving habit that future you will appreciate. Open a separate savings account dedicated exclusively to taxes if you don't already have one. Transfer 25–30% of your net profit into that account every month. Review whether you're making quarterly estimated tax payments and, if you're unsure, schedule a conversation with your accountant. Small, consistent actions throughout the year can turn tax season from a financial crisis into just another routine business task. Resources Mentioned Profit First Methodology Sidekick Accounting Monthly Bookkeeping Services Free Business Strategy Call Sidekick Accounting Resources Tax Planning Support Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • August 4 · 22 min

    The CEO Confidence Loop: How Better Decisions Create Better Financial Results

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to get caught working in your business instead of leading it. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you improve profitability, make confident decisions, and build a business that truly works for your life. In this episode, we're bringing together everything we've been talking about—mindset, money, and leadership—into one powerful framework: the CEO Confidence Loop. Real confidence doesn't come from motivation or positive thinking. It comes from making intentional decisions, reviewing the data those decisions create, and building the discipline to keep improving over time. I'll walk you through how successful business owners transition from reacting like operators to thinking like CEOs, and why your financial data is one of the most valuable leadership tools you have. This episode answers questions like: What is the CEO Confidence Loop? How do decisions, data, and discipline work together? What's the difference between operating your business and leading it? Why should business owners treat financial reports like a dashboard instead of a report card? How can reviewing your numbers improve decision-making? Why is confidence built through action instead of feelings? What financial metrics should every CEO monitor regularly? How do intentional decisions improve profitability over time? Why is consistency more valuable than motivation in business? How can business owners develop stronger financial leadership? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and leaders who want to move beyond simply staying busy and start leading their business with greater confidence and clarity. If you've ever found yourself reacting to problems instead of planning ahead, avoiding your financial reports, or wondering how experienced CEOs make confident decisions, this episode will give you a practical framework you can begin applying immediately. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's ready to stop operating on instinct and start leading with confidence, share this episode with them. This Week's Action Step Choose one place to enter the CEO Confidence Loop this week. Make one intentional decision. Whether it's raising your prices, strengthening a client boundary, paying yourself consistently, or implementing a new financial system, commit to one leadership decision. Review your data. Pull up your last three months of financial reports and identify one trend that deserves your attention. Ask yourself what decision created that result—and what decision could improve it. Build one discipline. Schedule a recurring monthly money date, automate a tax savings transfer, or create a consistent owner-pay process that becomes part of your routine. You don't need to do all three. Simply choose one place to begin. The confidence loop grows every time you make intentional decisions backed by data. Resources Mentioned Profit First Implementation & Coaching Sidekick Accounting Facebook Community Free Business Consultation CEO Financial Leadership Support Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • July 30 · 17 min

    Imposter Syndrome Is Costing You Money: The Financial Patterns Behind Self-Doubt

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to think imposter syndrome is just a mindset issue. But often, self-doubt doesn't just affect how you feel—it affects the financial decisions you make every day. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you improve profitability, make confident decisions, and build a business that truly works for your life. In this episode, we're exploring a different perspective on imposter syndrome. Instead of viewing it only as a confidence challenge, we're looking at how it quietly shows up in your pricing, profitability, owner pay, and cash flow. When self-doubt influences your business decisions, it often leads to underpricing, over-delivering, weak boundaries, and inconsistent profits. I'll walk you through the financial patterns that reveal imposter syndrome, why data is one of the most powerful confidence builders, and how knowing your numbers helps replace fear with intentional leadership. This episode answers questions like: How does imposter syndrome affect business finances? Why do business owners underprice their services? What's the connection between self-doubt and profitability? How does over-delivering quietly reduce profit margins? Why is inconsistent owner pay a warning sign? What financial patterns reveal hidden self-doubt? How can data help build confidence in business decisions? Why should pricing be based on sustainability instead of fear? How do healthy margins support long-term business growth? What practical steps can business owners take to replace self-doubt with financial clarity? This episode is for small business owners, entrepreneurs, consultants, coaches, freelancers, agency owners, and service providers who have ever questioned their pricing, struggled to pay themselves consistently, or felt like they had to prove their value before charging what they're worth. If you've ever discounted before being asked, worked extra hours without billing for them, or accepted clients who weren't the right fit simply because you feared saying no, this episode will help you understand the true financial cost of self-doubt—and how to break the cycle. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's battling imposter syndrome while trying to grow a profitable business, share this episode with them. This Week's Action Step Choose one of your core services and evaluate it honestly by answering three questions. Is this service priced to fully support your time, overhead, owner pay, taxes, and a healthy profit margin? Does the margin reflect the actual effort and time required to deliver it? The last time you sold this service, were you operating from confidence or from fear? Use your answers to identify one improvement you can make this week—whether that's adjusting your pricing, strengthening your boundaries, or reviewing your margins. Confidence grows when your decisions are backed by data, not doubt. Resources Mentioned Profit First Implementation & Coaching Sidekick Accounting Facebook Community Free Business Consultation Pricing & Profitability Strategy Support Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • July 28 · 12 min

    Why Selling Feels So Hard: The Hidden Numbers Problem Behind Low Conversions

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how frustrating it can be when you're having plenty of sales conversations but very few of them turn into paying clients. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you improve profitability, make better business decisions, and build a business that truly works for your life. In this episode, we're talking about why selling sometimes feels heavier than it should. Many business owners assume they have a confidence problem when sales slow down, but often the real issue is a lack of clarity behind the numbers. When you don't fully understand your pricing, margins, costs, or delivery capacity, uncertainty creeps into every sales conversation. I'll walk you through how financial clarity strengthens confidence, why standardizing your services protects profitability, and how operational systems can dramatically improve your sales process. This episode answers questions like: Why do sales conversations sometimes feel difficult even when you're confident? How do unclear numbers affect your ability to sell? Why is knowing your margins essential for pricing confidently? How does custom work quietly reduce profitability? What is scope creep and how does it impact business growth? How can standardized services improve sales and operations? Why do operational systems increase confidence during sales conversations? How do delivery capacity and pricing work together? What questions should every business owner ask about their services? How can stronger business systems improve conversion rates? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, agency owners, and service providers who feel like they're having plenty of conversations but not enough clients are saying yes. If you've ever questioned your pricing, customized every proposal, or struggled to confidently communicate your value, this episode will help you identify the operational gaps that may be holding your sales back. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's struggling with pricing confidence or inconsistent sales, share this episode with them. This Week's Action Step Choose one service you currently offer and evaluate it through the lens of profitability and operational clarity. Calculate what it actually costs you to deliver that service, including labor and overhead. Determine the profit margin you need for that service to support your business goals. Identify where you frequently customize, discount, or stretch beyond your standard offering. Then look for patterns. Consider what can become part of a standardized process and what should remain an optional upgrade. Greater clarity behind your services creates greater confidence in every sales conversation. Resources Mentioned Profit First Implementation & Coaching Sidekick Accounting Facebook Community Free Business Consultation Profitability & Pricing Strategy Support Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • July 23 · 10 min

    Stop Avoiding Your Numbers: The Leadership Habit That Builds Financial Confidence

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to avoid looking at your financial reports when the numbers feel overwhelming or emotionally charged. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, improve profitability, and build a business that works for your life. In this episode, we're talking about one of the most important leadership habits every successful CEO develops: intentional awareness. Many business owners think avoiding their numbers protects them from stress, but in reality, avoidance only delays clarity and makes financial decisions more difficult. I'll show you how to remove emotion from your financial reports, use your numbers as neutral information instead of personal judgment, and develop a simple weekly habit that leads to calmer, more confident decision-making. This episode answers questions like: Why do so many business owners avoid looking at their financial numbers? What's the difference between financial awareness and financial judgment? How does avoiding your numbers affect business growth? Why is confidence built through awareness instead of avoidance? How can business owners make better financial decisions without feeling overwhelmed? What financial reports should you review regularly? How often should you check your business numbers? What questions should CEOs ask during a financial review? How can a simple weekly money check-in improve profitability? Why is awareness the first step toward confident leadership? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, and leaders who know they should be reviewing their financial reports but often put it off. If you've ever avoided opening your profit and loss statement, relied only on your bank balance, or felt anxious every time you looked at your numbers, this episode will help you replace fear with clarity and build healthier financial habits. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's been avoiding their numbers because they feel overwhelming, share this episode with them. This Week's Action Step Schedule a recurring 10-minute financial check-in with yourself this week and commit to observing your numbers without judgment. During your check-in: Compare your cash balance to the previous few months. Review your income versus expenses. Track one profitability metric that's important to your business. Ask yourself: What do I notice? What's improving? What needs attention? Don't focus on solving every problem immediately. Your goal is simply to build awareness, because awareness always comes before action. Resources Mentioned Intentional Awareness Financial Check-In Sidekick Accounting Facebook Community Free Business Consultation Profit First Methodology Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • July 21 · 11 min

    Tax Write-Offs vs. Tax Strategy: Why Smart Business Owners Need More Than Deductions

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to focus on finding more tax deductions instead of building a real tax strategy. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, improve profitability, and build a business that works for your life. In this episode, we're talking about one of the biggest misconceptions in small business finance: the belief that tax write-offs are the same as tax strategy. Many entrepreneurs spend money simply to lower their taxes, without realizing they're sacrificing cash flow and long-term profitability. I'll explain why deductions are only one tool in a much larger strategy, how proactive tax planning creates financial stability, and the key decisions every business owner should make before tax season arrives. This episode answers questions like: What's the difference between a tax write-off and a tax strategy? Why isn't spending money just to save taxes a smart financial decision? How do tax write-offs affect taxable income? Why is proactive tax planning better than reacting at year-end? How does your business structure impact the taxes you pay? When should business owners think about tax planning? Why do timing and planning matter for reducing tax stress? How can Profit First support a proactive tax strategy? What questions should every entrepreneur ask before making tax decisions? How can tax planning improve long-term profitability and cash flow? This episode is for small business owners, entrepreneurs, freelancers, consultants, coaches, and self-employed professionals who want to stop guessing when it comes to taxes. If you've ever wondered whether you should buy something just for the write-off, questioned whether your business structure is still the right fit, or found yourself scrambling at year-end, this episode will help you shift from reactive tax decisions to proactive financial leadership. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who's always asking, "Can I write this off?" share this episode with them. This Week's Action Step Replace reactive tax thinking with strategic planning by asking yourself a few important questions. Does your current tax strategy support your long-term business goals? Are you operating under the business structure that's best for your current stage of growth? Do you know when income and expenses should be recognized to support your financial goals? Are your purchases driven by strategy—or simply by the desire for another write-off? Then choose one action this week to improve your tax planning, whether that's reviewing your entity structure, creating a tax savings plan, or scheduling time to develop a proactive strategy before year-end. Resources Mentioned Profit First Methodology Sidekick Accounting Facebook Community Free Business Consultation Tax Strategy & Planning Support Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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  • July 16 · 9 min

    Scarcity Mindset Is Costing You Profit: How Fear Impacts Pricing and Business Growth

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to let fear quietly influence the decisions we make—especially when it comes to pricing, clients, and sales. That's why each week on Profit Points, I break down one financial or operational concept using practical examples and simple strategies to help you improve profitability, make confident decisions, and build a business that truly works for your life. In this episode, we're talking about one of the biggest hidden threats to profitability: scarcity mindset. Scarcity doesn't always look like panic or financial struggle. More often, it shows up through unnecessary discounts, over-delivering, weak boundaries, and saying yes to the wrong opportunities. These small decisions slowly erode your margins and leave you working harder without earning more. I'll show you how fear affects your pricing decisions, why confidence creates healthier businesses, and how to shift from scarcity to sustainable profitability. This episode answers questions like: What is a scarcity mindset in business? How does fear affect pricing decisions? Why do business owners discount their services too quickly? What is the connection between scarcity thinking and scope creep? How does over-delivering reduce profitability? Why do some clients appreciate your value while others demand more? How can pricing from confidence improve sales conversations? What does it mean to sell from alignment instead of fear? Why can healthy boundaries strengthen both profit and client relationships? How can business owners protect their margins without feeling guilty? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, and service providers who struggle with pricing, over-delivering, or constantly feeling like they have to prove their value. If you've ever discounted your services out of fear, taken on more work than you quoted, or found yourself attracting difficult clients, this episode will help you identify where scarcity may be affecting your business—and how to change it. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who struggles with pricing confidently or setting healthy client boundaries, share this episode with them. This Week's Action Step Review your recent sales conversations or client engagements and honestly evaluate where fear may have influenced your decisions. Ask yourself whether you discounted because it was strategic—or because you were afraid of losing the sale. Identify any work you delivered that wasn't included in your pricing. Reflect on whether you agreed to requests before considering whether they aligned with your business. Then choose one area where you'll strengthen your boundaries this week—whether that's maintaining your pricing, limiting scope creep, or becoming more confident in communicating your value. Resources Mentioned Sidekick Accounting Facebook Community Free Business Consultation Pricing and Profitability Strategy Support Profit First Methodology Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

    • Transcript
  • July 14 · 7 min

    Revenue Goals vs. Profit Goals: Which One Actually Builds a Better Business?

    Got a Question? Send us a Text! Welcome to Profit Points! I'm your host, Megan Schwan, founder of Sidekick Accounting, Certified Profit First Professional, Fix This Next Advisor, and your accounting sidekick. As a business owner myself, I know how easy it is to get caught up chasing bigger numbers, higher sales targets, and ambitious growth goals. That's why each week on Profit Points, I break down one financial concept using practical examples and simple explanations to help you understand your numbers, improve profitability, and build a business that works for your life. In this episode, we're talking about one of the biggest mistakes business owners make when setting goals: focusing on revenue without considering profit. While revenue goals often sound exciting, they don't necessarily create a healthier, more sustainable business. In fact, chasing revenue alone can lead to burnout, poor margins, overloaded schedules, and unnecessary stress. I'll walk you through the difference between revenue-focused thinking and profit-focused leadership, and show you how to set goals that support both your business and your life. This episode answers questions like: Why can revenue goals create more pressure instead of more freedom? What's the difference between revenue growth and profit growth? How do revenue-only goals contribute to burnout? Why do business owners discount services or accept the wrong clients? What role do margins play in business success? How does delivery capacity affect profitability? Why should profit be the starting point for goal setting? What does sustainable business growth actually look like? How can business owners align financial goals with personal priorities? What metrics should entrepreneurs focus on besides revenue? This episode is for small business owners, entrepreneurs, consultants, freelancers, coaches, and service providers who want to grow their business without sacrificing profitability, capacity, or quality of life. If you've set ambitious revenue targets but still feel overwhelmed, stressed, or financially frustrated, this episode will help you rethink what success really looks like. If you enjoy this episode, be sure to subscribe to Profit Points so you never miss an episode. And if you know another business owner who is chasing revenue while feeling stretched too thin, share this episode with them. This Week's Action Step Take a look at your current business goals and ask yourself whether they're focused solely on revenue or on overall business health. Review your revenue goals and identify the profit you actually want to keep. Consider your delivery capacity and whether your goals align with it. Evaluate your margins to determine whether your current pricing supports profitability. Ask yourself what "enough" looks like and what you're willing to say no to in order to protect profit and sustainability. Then rewrite one goal this week to focus on profit, capacity, or margin instead of revenue alone. Resources Mentioned Profit First Methodology Sidekick Accounting Facebook Community Free Business Consultation Profitability and Goal-Setting Support Sidekick Accounting Resources Connect with Megan LinkedIn: Megan Schwan Website & Community: youraccountingsidekick.com Book a Free Consultation: chatwithmeg.com Connect with me for practical financial education, resources, and support designed to help you build a profitable, sustainable business that works for your life.

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