Welcome back to the Gross Profit Podcast! In this episode, James Kennedy sits down with Harriet Formby, founder of Below the Line Finance, to discuss one of the most misunderstood aspects of business success—pricing.
Harriet, a Fractional CFO and business mentor, brings a radical, holistic approach to finance, helping mission-led founders, startups, and SMEs align financial success with their values. Together, she and James dive into Mike Michalowicz’s book ‘Profit First’, exploring how this popular methodology can help—or hinder—entrepreneurs in their pursuit of sustainable profit.
This episode is packed with actionable advice on pricing strategies, financial inefficiencies, and rethinking money mindsets. If you’ve ever struggled with pricing your services, balancing profit and purpose, or feeling confident about your financial decisions, this conversation is a must-listen!
What You’ll Learn:
- Why Pricing is a Common Pitfall: The biggest mistakes business owners make when setting their prices.
- Profit First—Does It Work for Everyone?: A deep dive into the ‘Profit First’ methodology and when it may not be the best fit.
- Hidden Operational Inefficiencies: How to spot and fix money leaks in your business.
- Holistic Finance & Money Mindset: Why financial success is about more than just numbers—it’s about confidence, alignment, and strategy.
Episode Highlights:
- Harriet’s Journey: From corporate finance to launching Below the Line Finance, creating a trauma-informed, people-first approach to business finance.
- James asks Harriet: “What are the biggest myths around pricing that hold business owners back?”
- The Ethics of Profitability: Can you make a profit AND stay true to your mission? Harriet shares her thoughts on balancing financial success with purpose.
- Pricing Beyond the Numbers: The emotional and psychological factors that influence how we price our services—and why undervaluing yourself is a business killer.
More About Harriet Formby:
Harriet is an ICAEW Chartered Accountant, Fractional CFO, and business mentor, specializing in financial transformation for mission-led businesses. With a background in private equity, corporate finance, and SME advisory, she brings a unique blend of strategy, coaching, and deep financial expertise. Through Below the Line Finance, she helps entrepreneurs build financial foundations that feel good and do good—without sacrificing impact or ethics.
