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Profit Matters, But So Does the Right Partner with Ashley Ingle
Today we are joined by the owner of Profit Matters, Ashley Ingle. Ashley walks us through her experience of starting a business, losing a partner in business, and researching venture capital options. She discusses how AI has changed the way Profit Matters works and how she is looking to add more AI into her service based company. Ashley discusses the process of raising funds while running her day to day business operations and what complications can come up. Tune in to hear how Ashley manages her business in a male dominated industry and why she has been so successful.
IN THIS EPISODE:
- [8:07] How did Ashley come up with the name “Profit Matters” for her business?
- [8:50] What did Ashley do prior to starting Profit Matters?
- [15:51] Does Profit Matter have an AI feature or is it all manual and being done by people?
- [19:58] What made Ashley bring in a partner originally?
- [22:36] Did Ashley and her partner have the provisions for exit in a legal document?
- [24:31] What does the rest of the Profit Matters team look like?
- [26:06] What areas in her team are they looking to experience growth?
- [27:20] What is the process of raising funds while also working in the day to day operations of running a business?
- [31:20] Have there been any struggles being a female in a male dominated industry?
- [35:01] How did Ashley get her first client?
KEY TAKEAWAYS:
- When you are thinking of bringing in a partner, think about the long term relationship. Know that going into a business partnership is like going into a marriage. It may not work out, so have a plan of what will happen if the business needs to dissolve or if someone wants out of the partnership.
- If you are a female in a male dominated industry, and you want to be treated equally, then you need to act like everyone else. Don’t except special treatment while also expecting to be treated like an equal.
- Get curious about the people that you are going to hire. Ashley uses a predictive index/culture index personality test that identifies your workplace trait behavoirs to determine what role applicants would fit into best. This avoids the issue of hiring someone as a bookkeeper who will be unhappy in the long term, but would be an excellent sales person.
BIO:
I help ambitious business owners overcome financial challenges to increase product margins and project profitability.
I know how seemingly small things can turn into massive issues on the operations side if not managed correctly. All the smart work on the project planning side of the business can easily come undone if there are issues with systems and processes.
We have uniquely positioned ourselves to help construction and real estate companies navigate all aspects of operations and tax, to ensure they can maximize their profit. I do this using my proprietary P.R.O.F.I.T plan which I have developed exclusively for construction, real estate, and development companies.
LINKS MENTIONED:
Email: Ashley@profitmatters.co
