July 16, 2025

023: “What does it take to build a profitable business?” ft. Amanda Bedell

023: “What does it take to build a profitable business?” ft. Amanda Bedell
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In this episode, Erik sits down with Amanda Bedell, a no-BS profit strategist with a story that flips the script on what most entrepreneurs think running a “successful” business looks like. Amanda unpacks the painful lessons from building a $2M+ bakery—with zero profit—and how that failure catalyzed her mission to help founders build profitable, sellable businesses. The conversation gets tactical and emotional, strategic and human—offering a masterclass in real business truth-telling.

👤 About the Guest

Amanda Bedell is a profit coach and strategic advisor to entrepreneurs. After building and selling a multi-million-dollar bakery that lacked profit, Amanda made it her mission to help founders escape the "broke but busy" trap. Through her advisory work, she helps companies dial in their pricing, understand their unit economics, and turn passion-driven ventures into cash-positive, strategically-sound businesses.

🧭 Conversation Highlights

  • The distinction between profit theory and profit practice—and why both matter.
  • Why most business owners get pricing wrong—and how to fix it.
  • The tactical tools Amanda uses to calculate pricing that actually covers overhead.
  • The difference between markup and margin—and how misunderstanding this sinks businesses.
  • The human side of profit: how shame, emotion, and identity tie into your P&L.
  • Why strategic marketing isn't “fluff”—it’s core to profit design.

💡 Key Takeaways

  • Profit isn’t automatic—it's designed. Most entrepreneurs think selling equals success, but Amanda reveals how easy it is to run a multi-million-dollar business into the ground without strategic pricing.
  • If your unit economics are broken, you don’t have a business. It doesn’t matter how passionate you are or how great your product is.
  • Pricing is emotional and mathematical. If you avoid the math because it feels hard or makes you uncomfortable, your business will suffer.
  • Branding influences price elasticity. Smart strategic positioning can increase what the market will bear—if you deliver on the promise.
  • Hard truth is kindness. Amanda’s approach isn’t soft—but it’s the leadership most business owners actually need.

❓ Questions That Mattered

  • How do you set prices when the market doesn’t “feel” ready for the numbers you need?
  • What do you do when you realize your dream business is failing financially?
  • How can branding and marketing reframe customer expectations—and profit margins?
  • How do you navigate the emotional wreckage that comes from business failure?

🗣️ Notable Quotes

“Every decision you make in your business is a profit decision.”
“I had a $2 million business and couldn’t pay myself. That’s not success.”
“Most bookkeepers aren't business owners. Their job is to report the past, not build your future.”
“You don’t need to get to the right margin overnight—you need a strategy to get there.”


🔗 Links & Resources