Deliver on Your Business is a weekly podcast, however we're launching with a 31 Day Courier MBA series - Mastering Business Attitude. You can find a blog post for each of these episodes that follows the information provide, just not necessarily word for word.
I do recommend you look at earlier episodes in this series as they do lay a foundation for future episodes.
Today's episode page can be found here.
We start the first of 6 episodes that focus on finance. It's all about the money here. We delve into different money topics affecting business and how they effect you. Please note, information provided in this episode is not intended to be professional advice. It is information that I provide from my perspective and experience. If you need specific advice to your situation you should seek a financial professional.
We've talked a lot about profit in the past, but today we talk about developing a profit and loss mindset.
It's not what we get deposited in our accounts from delivery companies like Grubhub, Doordash, Postmates, Uber Eats, Caviar, Shipt, Instagram and others that we really earn. It's the profit. It's the money left over after we've taken out expenses.
We talk about a number of advantages that come with having a mindset that sees the profits as what we've earned rather than a payday mindset.
The most important figure when looking at profit and loss is the bottom line, not the top line. It's about the profit, not the revenue.
We explain some of the expenses you would track. We talk a little about how we see our vehicle expenses - there are three views:
The IRS sets the allowance there for a reason, and that's an indication that our actual expense is going to be higher than it looks. We'll get more into this in Episode 18.
Finally, we talk about ways you can track your income and expenses, getting a birds eye view of our actual profit and our taxable profit.
Some of the previous episodes mentioned in today's episode:
Episode 7: Developing an Exit Plan
Episode 8: Measuring Your Performance
A full list of past and previous episodes in the Courier MBA Series can be found here.
