Case Study: Empowering Business Growth through the Financial Fitness Formula™ Program
Mark Cubarrubia and his wife run a successful business called Sustaining Interiors, based in Pompano Beach, Florida. One of their challenges was talking candidly about profitability, key performance indicators, and other financial topics.
With Mark’s financial expertise and his wife’s sales acumen, their goal is to grow their business while creating job opportunities and making a positive impact on their community.
However, they faced challenges in communicating about their business’s financial priorities and concerns.
Especially during the uncertainty caused by the COVID-19 pandemic.
This case study explores how Mark and his wife’s journey through the Financial Fitness Formula™ Program transformed their business and their relationship.
Challenges With Operating Cash Flow
Mark and his wife had different roles within the company, with Mark handling the financial side and his wife focusing on sales.
This disparity in knowledge often caused tension when they needed to communicate about financial matters.
Additionally, the pandemic hit their business hard, resulting in a significant drop in revenue.
With their sales being mostly in large commercial buildings, their revenue decreased by nearly 75% in the initial months of the pandemic.
Faced with difficult decisions about cash flow, cost-cutting, and job retention, they needed to make smart changes.
The Need for Financial Control of Their Net Profit Margin
Mark realized that to steer their business through the pandemic and beyond, they needed to gain control of their finances.
The problem was, they didn’t know what they didn’t know.
Their previous CPA wasn’t equipped to navigate through the complexities of the pandemic-related financial challenges.
They needed a resource that provided the latest information and tools to analyze and understand their financial situation better.
The Financial Fitness Formula™ Program
Seeking a solution, Mark and his wife came across Jamie Trull’s Financial Fitness Formula™ Program.
The program was designed to empower business owners. Regardless of their financial background.
With the necessary knowledge to make informed decisions about their business’s financial health.
It covered various modules, offering bite-sized lessons and easy-to-understand terminology, making it accessible even to those without a business degree.
Benefits and Impact of Improved Accounts Receivable Turnover
The Financial Fitness Formula™ Program had a profound impact on Mark and his wife’s business and personal life.
Some of the benefits they experienced include:
- Improved Communication: The program bridged the knowledge gap between Mark and his wife, resulting in open and constructive communication about their business finances. They no longer felt tension discussing financial matters, leading to a more harmonious working relationship.
- Confident Decision Making: Armed with new financial insights, Mark and his wife made more confident decisions regarding pricing, cost analysis, and profitability. They learned to set fair prices that considered the value they provided, rather than simply lowering prices to win bids.
- Effective Pricing Strategies: The program helped them identify their pricing sweet spot, balancing volume and profit margins, which led to winning a significant contract with a well-known company.
- Adoption of Abundance Mindset: Mark, who previously operated on a scarcity mindset, embraced the abundance mindset, leading to more positive and forward-thinking approaches to business challenges.
- Access to Valuable Tools: The program provided them with an array of practical tools, including spreadsheets and financial templates. These resources saved them time and ensured accuracy in financial calculations.
- A Welcoming Community: As a male in a predominantly female group, Mark felt warmly welcomed and appreciated the supportive environment. The group’s interactions, live sessions, and Q&A provided valuable insights and inspiration.
Long-Term Impact For Businesses
The Financial Fitness Formula™ Program empowered Mark and his wife with the financial knowledge and confidence needed to navigate the challenges faced by their business.
They were better equipped to forecast and plan for the future, making informed decisions that would drive growth and success.
Their enhanced communication and improved financial control set a solid foundation for achieving their business aspirations and dreams.
Conclusion: Understanding Profitability Key Performance Indicators Benefits Your Business and Beyond
Mark and his wife’s journey through the Financial Fitness Formula™ Program has been transformative.
They moved from a place of financial uncertainty and communication challenges to a position of empowerment and clarity.
With newfound financial knowledge, they made strategic decisions that positively impacted their business, their employees, and their lives.
The program’s inclusive and welcoming community, led by Jamie Trull, played a pivotal role in fostering an environment of learning, growth, and mutual support.
Learn more about the program here.
The Need For Financial Literacy In A Design Business:
This transcript has not been edited or reviewed for accuracy. It may contain errors or discrepancies from the original spoken content.
The transcript is offered for informational purposes only and should not be considered a definitive record of the event. We do not guarantee the accuracy, completeness, or reliability of the information provided in this transcript. Any reliance you place on such information is therefore strictly at your own risk. Bll current Financial Fitness Formula™ timelines and offers at jamietrull.com/fff
My wife and I both have business degrees.
But it’s been a long time since she had to really deep dive into financial statements and what they mean.
There’s friction anytime In talking about money, it can be cause tension in the relationship.
And make it tough to communicate.
Numbers and the finances of the business is very, very important. And you need to be able to talk about those things. Without any of the emotions in it as much as possible.
Jamie Trull is very knowledgeable, great experience in her prior career as a C P A.
And I’m thankful that she let a man into the group.
Jamie’s spreadsheets are incredible that she’s the queen of the spreadsheets.
You can plug in your numbers and see how they land, so it saves you a lot of time. And knowing that she prepared them, you know that they’re accurate. And all the formulas work.
Benefits Beyond Finanicial Knowledge
I found myself educating our CPA actually, with the knowledge I gained from Jamie’s lessons.
The time and money investment was worth it.
The tuition of learning through the school of hard knocks is a lot higher than than investing in a program like Jamie’s.
My wife was in the middle of a bid for a service contract with a very large client here.
From the course, she understood the concepts of price and she did the proposal.
She held on to her pricing a little higher than she would’ve. So she was a little out of her comfort zone.
A couple weeks later, she was awarded the contract.
The biggest positive outcome is we can speak about any aspect of the finances of the business.
The financial statements and it’s not a cause of tension.
It’s been really like a, I think, a pressure relief valve for her.
A lot more happiness in the, in the day to day.
The emotional bank account is full of deposits. So if you have to make a withdrawal with a little bad news it’s, you don’t have to worry so much.
About just stating the facts.
