In this episode of Stride 2 Freedom, we had a chance to chat with Simon Nicholls, a Managing Partner at Weir-TS. Simon has always impressed me with his financial strategy acumen. Sure, the British accent doesn’t hurt either but let’s be real, Simon has decades of private and public company leadership experience that he brings to his clients. I asked Simon to join us to talk about the power of unit economics.
You can think about unit economics as the profit of the service or product that you sell. Sure, after that you have some overhead for the business like your rent, executive salaries, etc., but the true value you create is the profit on what you sell — otherwise known as “contribution margin”. Companies that understand their contribution margin on a per client, project, or unit basis have infinitely more knowledge to control their future. Simon helped us explore how to unlock contribution margin and why it matters.
What has always impressed me about Simon is his practical approach to get the facts before building the story. The facts are indisputable and should always be achievable through historical financial statements. But sadly, many times those facts are difficult to unlock because the books just aren’t clean.
Who should I interview next? Please let me know by clicking here.
In this Freedom Speaker Series episode with Simon Nicholls, you will learn:
- How business owners can gain more confidence in their business
- The importance and meaning of unit economics and contribution margin
- What should business owners be asking their partners around financial data
- What decisions/actions can be taken when a business owner understands their unit economics
Show Notes and Links From Episode:
Simon Nicholls email: firstname.lastname@example.org
We are fortunate to have Simon available to spend time with us on this edition of Stride 2 Freedom. If there is a speaker you’d like us to interview, click here and let us know. Stay well. Stay safe. Stay healthy.