You Can Find All Kinds of Sales and Profit Opportunities Hidden Within Them
Episode 173 – The Local Small Business Coach Podcast
Here is what we discuss in today's episode:
Knowing these 7 Business Terms & Numbers are the Difference Between Being an Employee and a CEO:
If you are serious about your business, you must know what these 7 business terms & numbers mean and how to find them. They are the difference between being an employee and a CEO of your business. Not to mention, there is so much great information hidden in them to take your business to the next level! You can find all kinds of sales and profit opportunities hidden within them.
Let’s dive in and talk about…
• Sales / Revenue – Top Line Sales
• Costs of Goods Sold (COGS) – Costs to Produce the Product or Service
• Gross Profits – Sales minus your COGS
• Expenses – All other costs of doing business
• Net Income / Profit – Gross Profits Minus Expenses
• Gross Profit Margin – The percentage of profit made after taking out costs
• Net Profit Margin – Profit percentage after all costs taken out
Numbers don’t have to be scary if you know what they mean
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MORE HELPFUL LINKS
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You Must Read this Book! Start Paying Yourself First!
My Recommended Bookkeeping Program for Local Small Business Owners: Freshbooks Link
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