Simple Fixes to Stop Losing Money and Start Maximizing Profits
If you’re like most American entrepreneurs, you’re making sales, clients are coming in, and your business looks like it’s thriving but, when you check your bank account, something isn’t adding up. Where is all the money going? Why isn’t your business more profitable? And most importantly… how do you fix it?
The truth is, most businesses don’t lose money in one big, obvious way. It’s the slow, sneaky leaks—wasted expenses, underpricing, and inefficiencies—that drain your profits without you realizing it. The good news? You can stop the leaks and take back control without working harder or stressing more.
Let’s break down the biggest ways businesses accidentally lose money and how to fix them.
Leak #1 – Not Knowing or Tracking Where Your Money is Going
If you don’t know exactly where your money is coming from or going, you’re running your business blindfolded.
I’ll give you a perfect example. I’ve been using Canva Pro for my business graphics for years. I signed up for the annual plan at $120 using my business credit card. No problem.
A few months later, while checking my business checking account, I noticed something odd. Canva was also charging me $15 a month—a second subscription, this time as a debit card transaction. That’s $180 a year on top of the $120 I had already paid!
I had been double charged for months, and I didn’t catch it because I wasn’t regularly checking my expenses at a detailed level. That’s $180 I could have reinvested into my business.
The Fix
✅ Review your statements – Go through every business expense monthly. Look for duplicates, unnecessary charges, or price increases.
✅ Use a simple tracking system – QuickBooks, Wave, or even a basic spreadsheet can help you keep an eye on where your money flows.
✅ Set a money check-in routine – Make it a habit to review your numbers weekly. A 10-minute check can save you thousands a year.
If you don’t track your money, you can’t control it.
Leak #2 – Wasting Money on the Wrong Tools, Software, or Services
Be honest. How many subscriptions are you paying for that you barely use?
That social media scheduling tool that was supposed to save you time but just sits there? The fancy CRM you thought you needed, but now you’re still using Google Sheets and Post-it notes?
The Fix
✅Audit your subscriptions – Go through every single tool and ask yourself
- Does this save me time or make me money?
- Can I switch to a cheaper or all-in-one option?
- Have I used this in the last 90 days?
Trim the fat. Cut the waste. Keep only what moves the needle in your business.
Leak #3 – Inefficient Processes That Are Costing You Time and Money
If you repeat the same task over and over, you are wasting time and losing money.
Think about all the little things that slow you down. Manually sending invoices. Replying to the same questions. Fixing the same mistakes.
The Fix
✅Automate – Set up automatic invoices, email templates, and scheduling tools. Let technology do the work for you.
✅Create SOPs (Standard Operating Procedures) – Document how tasks are done so they can be delegated without micromanaging.
✅Delegate or outsource – If a task doesn’t require your expertise, hand it off and focus on growing your business.
Working smarter means working less but earning more.
Leak #4 – Underpricing Your Products or Services
If you are always busy but never making enough, your pricing might be the problem.
Too many business owners undervalue their work out of fear of losing clients. But low prices don’t attract more clients—they attract the wrong ones.
The Fix
✅Calculate your REAL costs – Include time, materials, overhead, taxes, and profit margins.
✅Raise your prices strategically – Test small increases and see how little resistance you get.
✅Focus on value, not price – People will pay more if they understand what they are getting.
You are not a bargain brand. Price yourself for profit, not survival.
Leak #5 – Poor Client Retention and Missed Repeat Business
New clients are great, but keeping clients is where the real profit is.
If you aren’t following up, nurturing relationships, or offering repeat services, you are leaving easy money on the table.
The Fix
✅Follow up after every project – A simple check-in email can lead to a new sale.
✅Offer the next step – A follow-up package, maintenance plan, or ongoing service keeps clients engaged.
✅Reward loyalty – VIP perks, referral bonuses, and exclusive offers keep clients coming back.
A happy client is a profitable client.
Leak #6 – Too Many Discounts and Freebies
If you keep offering discounts just to make a sale, your profits are disappearing fast.
The Fix
✅Stop discounting and start adding value – Instead of lowering prices, offer a bonus or exclusive perk.
✅Set boundaries – Not every request deserves a freebie. If someone asks for advice, invite them to book a paid consultation.
✅Know your worth – You don’t need to be the cheapest to be the best.
Generosity is great. Profitability is better.
Ready to Unlock Your Business’s Profit Potential?
Money is flowing into your business—but is it staying there?
A few small tweaks can add up to thousands of dollars in saved revenue. So what’s your next move?
Take the first step toward transforming your business with my personalized coaching and strategic guidance.
Here’s what my coaching can do for you
✅Gain clarity and focus on the next steps for growth
✅Identify hidden opportunities that could increase your revenue
✅Streamline operations so you work smarter, not harder
I offer a free 20-minute discovery Zoom where we will chat about your goals, identify profit leaks, and create a custom plan to help your business thrive.
🚀 Don’t wait to discover the possibilities. Click below to take action!
👉 Schedule Your Free Discovery Call
You have what it takes to achieve incredible success, and I am here to help you every step of the way. Let’s make it happen!
