Welcome back to the Empower Her Business Accelerator podcast! I’m your host, Philippa Channer, and I’m beyond thrilled to welcome you to this very special 200th episode! 🎉
Whether you’ve been with me since the beginning or you just pressed play for the first time — thank you. Your support, your energy, and your commitment to growing your business alongside me means the world. This podcast has been a space of learning, empowerment, and bold action, and I couldn’t have made it here without you.
This month, we’re diving into one of the most unglamorous — but absolutely essential — parts of running a business: your cost structure. We spent last month celebrating the revenue side of things… but now it’s time to zoom in on the money flowing out of your business. Because friend, if you’ve ever looked at your income and wondered, “Where is it all going?” — this series is going to give you clarity, confidence, and control.
And before we dig into today’s breakdown, I want to invite you to explore something that could completely change the game for your business: the Entrepreneur Incubator — my four-month, done-with-you program designed to help you get clear on your brand, build a sustainable strategy, and actually implement it with support and accountability. You’ll get personalized coaching, a full 12-week content strategy, and access to powerful tools like my Content Clarity Canvas and the Content Clarity GPT. Ready to explore if this is your next move? Book a free 30-minute session using the link in the show notes.
(00:00) Celebrating Episode 200 & Introducing the Entrepreneur Incubator
This is a big milestone — 200 episodes in! I reflect on how far we’ve come and introduce the brand-new series on business expenses. I also give you a personal invitation to join the Entrepreneur Incubator, my most impactful offer yet for business owners ready to move from scattered to strategic.
💡 Action Step: Book your free 30-minute discovery session and explore if the Incubator is your next best step.
(02:00) Understanding Your Cost Structure: Fixed, Variable & Hidden
I break down your expenses into three key categories — fixed, variable, and hidden — and why each one matters. This first step is all about awareness, and I walk you through how to start categorizing your expenses using a simple spreadsheet.
📝 Action Step: Create a 3-column spreadsheet and start listing all your business expenses by type.
(03:30) Tracking Your Expenses Without Judgment
The next 30 days are your financial audit period — no guessing allowed! I encourage you to pull your bank statements and track every dollar that leaves your account. This is the part where you step fully into your CEO role.
📊 Action Step: Track and categorize every expense over the next 30 days. Ask: Is this admin, marketing, education, or client delivery?
(05:00) High-Leverage vs. Low-Leverage Spending
Now that you see where the money goes, it’s time to evaluate the return on those investments. I guide you through key questions to assess whether each expense saves you time, makes you money, or helps you grow. I also offer real-world examples to help you identify what’s truly essential.
💥 Action Step: Circle high-leverage expenses and put a star next to low-leverage ones. Start brainstorming cuts or consolidations.
(06:30) Spotting the Sneaky Leaks
This is where the savings magic happens. I talk through common “money leaks” that silently drain your cash — things like duplicate tools, unused subscriptions, and forgotten trials that rolled into full-priced plans. One of my clients saved $3,000 a year just by doing this review!
💸 Action Step: Review the last 2 months of transactions and highlight anything you don’t recognize, need, or use. Cancel or renegotiate ASAP.
(08:00) The Danger of Cutting Too Much
Let’s talk about the other side of the coin: over-cutting. I remind you that you can’t shrink your way to success. Eliminating expenses that actually help your business grow — like systems that save you time or tools that elevate your client experience — will hurt more than help.
🚫 Action Step: For every cut you make, double-check: “Is this saving me time, increasing revenue, or boosting client retention?”
(09:00) Your Challenge: Categorize, Streamline, and Reflect
This episode isn’t just about budgeting — it’s about empowerment. I challenge you to do a full expense audit over the next week. Color code it if that helps. Then, bring your results to someone who understands your business and can give feedback — or book that session with me and let’s go through it together.
🧠 Action Step: Audit 30-60 days of expenses, identify what stays and what goes, and discuss it with someone you trust.
(10:00) What’s Coming Next
Next week, we’re building on this conversation by learning how to optimize your cost structure. I’ll help you align your spending with your long-term goals and vision — so you’re not just managing expenses but using them strategically to fuel your business growth.
If you’re loving this breakdown and want even deeper guidance, don’t forget to check out the Entrepreneur Incubator. I’d love to walk you through it and see how we can simplify and elevate your strategy together. Book your free session through the link in the show notes.
Until next time, keep shining, stay focused, and never forget — you are the CEO of your business, and your numbers should work for you, not against you.
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