The Amy Porterfield Show – Episode Summary

Episode Title: Profit > Revenue: Tiny Tweaks, Bigger Take‑Home
Date: October 23, 2025
Host: Amy Porterfield
Guest: Jamie Trull, CPA and Profit Strategist

Episode Overview

In this episode, Amy Porterfield dives deep into the crucial difference between revenue and profit in running a sustainable online business. Joined by CPA-turned-profit-strategist Jamie Trull, Amy explores the mindset and tactics business owners need to maximize their take-home pay without working harder or longer. Through candid stories and actionable advice, Amy and Jamie focus on "profit levers"—small strategic changes that have an outsized impact on your bottom line. They also discuss the hidden pitfalls in business financials, offer frameworks for understanding true profitability, and champion heart-centered financial literacy, especially for women entrepreneurs.

Key Discussion Points & Insights

1. Why Profit Matters More Than Revenue

• The Pitfall of Focusing Only on Revenue: Many entrepreneurs measure success by top-line revenue, but what really matters is what you take home.
  • Jamie Trull:
    “At the end of the day, what really matters is how much you're actually taking home. Otherwise we can end up kind of… just working for our business our whole life.” (07:55)
• Profit Fuels Sustainability: If you’re not profitable, you can’t serve your clients or stay in business.

2. Understanding Your Numbers: The Foundation of Growth

• Knowing Your Numbers Grants Confidence:
  Amy Porterfield:
  “The more you understand your numbers, the easier it is to run your business. The less time you spend in your business, the less overwhelm, the less imposter syndrome. Because when you know your numbers, there's a confidence that comes with that.” (04:19)
• Reverse Engineering Goals: Instead of focusing on revenue, start with how much profit you want and work backward—calculate necessary leads, convert rates, and true costs.

3. What Should Your Profit Margin Be?

• It Depends!: Industry benchmarks often reflect big corporations and don’t always apply to smaller service-based or digital businesses.
  • Jamie Trull:
    “As high as possible without accidentally under investing in your business.” (10:02)
• Don’t Forget Your Own Time: Time invested, especially by founders, must be factored into profitability, even if it doesn’t show up on the P&L.

4. Pinpointing Profitability & Hidden Drains

• Analyze Each Offer/Product: Highest revenue items might not be the most profitable, especially once you account for the time and resources needed.
  • Jamie Trull:
    “...You might assume that whatever offer is making you the most revenue is the most profitable. Right. And that is often not the case because we have to think about the energy and time involved…” (12:56)
• Track Time As Well As Money: Assign a value to your time for each product or service.

5. The Profit Levers Framework (Timestamps: 15:29–19:01, 20:06–22:24)

• Beyond Just Revenue Minus Expenses:

  • Price: Are you charging enough?
  • Average transaction value: Can you introduce upsells or bundles?
  • Cost controls: Are your costs (direct/indirect) optimized—not too high, but not starving your business of investment?
  • Offer mix: Which products/services are your most profitable, and where should you double down?

• Amy shares a bootcamp upsell example where adding a VIP option meaningfully increased per-customer profits. (19:01)

  Amy Porterfield: “...while you were enrolling, you've actually already enrolled. And then we say, hey, by the way, do you want to become a VIP member?... So many people take us up on this... that next level is so much easier than... trying to find new customers.” (19:01)

6. When Lean Is Too Lean – Investing for Greater Profit

• Jamie shares how running “too lean” by skimping on support staff kept her stuck; hiring allowed her to both increase profit and decrease her hours worked.
  • Jamie Trull:
    “Not only was this the best year in our business, I've also worked less than I've worked any year in business. So that has helped me, I think, forever.” (21:27)

7. Price Increases – Overcoming Fear and Mindset Issues (Timestamps: 25:50–28:50)

• Emotional Barriers: Guilt and fear often arise with price hikes, especially in digital businesses.
  • Jamie Trull:
    “...you're not going to be able to have any customers or clients if you're not running a business with sustainable profit margins that ensure you're going to be here a year from now... if you can make more profit, working less. Isn't that the dream?” (26:58 & 28:29)

8. Spotting Hidden Profit and Losses (29:17–33:10)

• Product/Offer Deep Dive: Look at each product’s margins; some bestsellers are secret money losers if costs are fully allocated.
  • Jamie Trull:
    “Their bestseller was losing them money, and they had no idea... There was a lot of feelings around it and worry that they couldn't increase their prices. But I said, they can't afford not to because you're actually spending more than you're making on this.” (29:43)
• It Doesn’t Have to Be Perfect to Be Useful: Start with estimates if precise data isn’t available and aim for actionable understanding.

9. CFO Mindset for Entrepreneurs

• Even if you outsource bookkeeping, you are the CFO: own big-picture oversight and strategic decisions.
  • Jamie Trull:
    “There's not just one way that works for everyone. It's about what's going to be helpful for you in making decisions about your business.” (33:15)

10. Tax Planning Made Simple (35:02–37:46)

• Don’t overspend just for tax deductions—prioritize true profitability.
• Be proactive: check in October whether you’ve paid enough taxes.
• Contributing to retirement accounts (like SEP IRA) is a smart, low-risk, tax-savvy move available to small business owners.

11. Connecting Profit to Your Values & Impact (38:10–40:16)

• Money serves your goals: Travel, family time, charity—profit as a means for the life and impact you want.

• Build charitable giving into your business model if that strengthens your connection and motivation.

  Jamie Trull: “If we can help others… money makes a really big difference. So if that helps you then… have that charitable piece of your business have a percentage that goes off the top towards the things that you care about.” (39:24)

12. Final Takeaways: Small Tweaks, Big Results

• Claim Your Power: As a business owner, you have more control than you realize. Small changes across multiple “profit levers” can compound into significant profit gains.
  • Jamie Trull:
    “You’re the control room operator... Small tweaks can really add up to big differences.” (40:34)

Notable Quotes

• “You can't grow, you can't scale what you don't fully understand.” – Amy Porterfield (05:06)
• “If you make a million dollars at a 5% profit margin, you're only bringing home $50,000... That, to me, is a lot of hustle, and I'm not a hustle person.” – Jamie Trull (08:32)
• “It doesn't have to be perfect to be useful.” – Jamie Trull (33:15)
• “If you feel like you can’t afford to hire someone to help you, you’re not charging enough.” – Jamie Trull (26:46)
• “If you can make more profit, working less. Isn't that the dream?” – Jamie Trull (28:29)
• “You're not going to be able to have any customers or clients if you're not running a business with sustainable profit margins.” – Amy Porterfield (00:12, 26:59)
• “You have that control and you need to claim it... step into that control room and say, okay, I'm going to intentionally make some decisions.” – Jamie Trull (40:34)

Timestamps for Key Segments

• 00:11 – Amy introduces the core theme: sustainable business means prioritizing profit over pure revenue.
• 07:52 – Jamie explains why the obsession with revenue over profit is misguided.
• 09:51 – “What should my profit margin be?” Jamie examines when industry rules don’t apply.
• 12:56 – Discovering which offers actually drive profit (and which drain you).
• 15:29–19:01 – Jamie unpacks the concept of “profit levers”—numerous ways to boost the bottom line.
• 20:06 – Jamie shares a personal story about investing in her business for greater freedom and profit.
• 25:50 – How to overcome guilt and fear around raising your prices.
• 29:17 – Jamie details common places entrepreneurs overlook hidden profit (or loss).
• 33:15 – “It doesn’t have to be perfect…” – Good-enough numbers are better than none.
• 35:02 – Practical tax planning tips for entrepreneurs.
• 38:10 – Connecting financial goals to personal values for deeper motivation.
• 40:34 – Final advice: small tweaks, claimed control, and big profit impact.

Resources Mentioned

• Amy’s Millie Club: amyporterfield.com/millie
• Jamie Trull’s new book, Hidden Profit: jamietrull.com/hiddenprofit
• “Working Genius” assessment: workinggenius.com (use code marketing for discount)
• Episode 21 (“what” numbers to track): amyporterfield.com/21

Tone & Language

Amy and Jamie maintain a supportive, practical, and empowering tone, blending stepwise business strategy with warmth, authenticity, and humor. The focus is on demystifying business finances without jargon, inviting listeners to take small, smart steps towards more rewarding businesses and lives.

Conclusion

This episode is a must-listen for any entrepreneur who wants to break out of the hustle cycle and ensure their business is not just making money but generating real, sustainable profit. With actionable tips, relatable anecdotes, and a clear call to “know your numbers,” Amy and Jamie challenge listeners to make profit a central metric—and promise that with even modest tweaks, it’s possible to take home more while enjoying your life and business more fully.