“A service-based company should be making 15% net income, 10% is the break-even.” - Jody Grunden
The finer details of this episode
- Why 10% is the new break-even
- How profit margins get smaller as your company gets bigger
- The sections of an income statement and why they are important
- How to calculate your actual gross profit and determine what it should be
- How much to invest in your employees outside of their paycheck
- The difference between overhead cost and production cost
- What you can do to increase your gross profit
- How to prepare for a recession
Episode resources
