Show Summary
Matthew Perosi, Chief Thinker at Sapphire Collaborative, joins Episode 23 of the Profit First Podcast. Matthew shares his story of when his company went into financial struggle and how he turned it around to become a profitable success.
Our Guest
Matthew Perosi is an internet analyst who examines existing and emerging technologies and figures out if they will be useful for business marketing; then acts as an individual consultant for people who want their business correctly positioned online for the future.
Matthew Perosi is an experienced entrepreneur, internet marketing consultant and mobile marketing consultant, SEO expert, educator and website developer. Founder of the Jeweler Website Advisory Group where all of his research provides scalpel sharp marketing and training for retail jewelry store owners and e-tail jewelry stores
During any face to face or telephone conversation Matthew freely offers innovative solutions for almost any internet marketing strategy as well as continually sharing his business experience and recommendations beyond the internet.
Matthew is the technical writer for the Retail Jewelry Magazine, and can often been seen speaking at trade shows like JA, MJSA, and JCK. His has also been found teaching jewelry photography at special events held at FIT in New York City.
Show Quotes
The most difficult thing was realizing how to correctly price ourselves. It took us several years to realize our mistake that got our company into financial trouble. We were offering inexpensive websites and including consulting services… but we weren’t getting paid or compensated for any of the consulting work.
As the recession began we dipped into the line of credit to pay our regular bills, and only used the money that our customers were paying to pay our employees. We got to the point where we had to lay off everyone other than myself (Matt) and my business partner. Suddenly two of us were doing the work of 5 employees.
I went through every service that we were offering and completely re engineered all the software we were using, as well as creating new software that was easy to use. This allowed employees to manage more clients – which helped turn our company around.
Best tip to profitability: Kill the ego. Admit to yourself that you don’t know everything.
If you want to sell your business, figure out how you want to tap into the next generation of customers and how to turn your own pricing around.
When you seek the advice of someone, ask in return what has been their experience doing it. If they tell you they failed or they haven’t done it yet, don’t listen to them. If they’ve been successful and they say “don’t do it”, that’s the person you want to listen to.
Show Links
Matthew’s Websites:
Press Release & Speaker site: http://www.perosi.com
Blog: http://www.jwag.biz/nuggets
Coaching Company site: http://www.
Show Sponsors
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
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