Welcome back to Small Business School! I'm thrilled about today's episode because we're diving deep into the heart of your business: Profit. Don’t ignore this episode because you think you know what profit is! Stay with me, it’s more than crunching numbers; it's understanding the patterns and relationships between!
Topics Covered:
- Profit isn't just about revenue and expenses; it's understanding the relationships and patterns between them. It's not just the 'what,' but the 'how' and 'why.'
- Expenses aren't just a lump sum. They fall into two categories: the cost of goods linked to your product/service and overhead, and the recurring expenses that happen no matter what.
- The importance of strategic decision-making. Whether it's managing overhead, understanding variable expenses, or choosing high volume vs. high margin, it's important to make informed decisions for sustainable profit.
- If you're in the service game, it's not just about delivering—it's about delivering at a profit.
Profit is more than a numbers game! If you have questions about navigating your business’ margins and understanding the patterns, reach out to me on Instagram, I’d love to connect!
Staci's Links:
Instagram. Website.
