Want to know exactly how much you need to sell to hit your profit goal?
In this episode, we use a simple formula and your Profit & Loss statement to reverse engineer your sales target and build a more profitable business.
🔑 Key Takeaways 1. Your Profit & Loss statement contains the roadmap to your goals. 2. Profit percentage is one of the most important numbers in your business. 3. You can reverse engineer a sales goal from a profit goal. 4. Improving profit margins often matters more than increasing sales. 5. Small improvements in costs and expenses can dramatically impact profit. 6. Pricing, labor, processes, and efficiency all affect profitability. 7. A higher profit margin means less sales are needed to reach your goals. 8. Stop guessing and start planning with real numbers.
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DIVE IN DEEPER & LEARN MORE ABOUT YOUR NUMBERS
👉 Check Out the AFFORDABLE - Know Your Business Numbers Course http://KnowYourBusinessNumbersCourse.com
NEED A BOOKKEEPER?
👉 Check out BABO Bookkeeping. https://babobookkeeping.com Yep! We can help you do your bookkeeping so you can focus on growing your business!
CONTACT ME:
👉 Bookkeeping for Your Business: tammy@babobookkeeping.com
WATCH VIDEOS:
👉 Watch on the Youtube Channel - Plus EXTRA TRAININGS on there: https://www.youtube.com/@BadassBusinessOwners
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TOOLS TO HELP YOU RUN A BETTER BUSINESS
Recommended Bookkeeping:
👉 The #1 Tool You Need: Quickbooks Online - https://babolearning.com/quickbooks You must have a good, easy to use bookkeeping system. The #1 option for those needing invoicing & online payments
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Books I Recommend to Help You Take Your Business to the Next Level
👉 Profit First by Mike Michalowicz – https://amzn.to/3nBsCRC
👉 eMyth Revisited by Michael Gurber - https://amzn.to/3bMDTeR
👉 How to Grow Your Small Business: A 6-Step Plan to Help Your Business Take Off – Donald Miller - https://amzn.to/4bvCDX8
👉 Atomic Habits by James Clear - https://amzn.to/3kpXs1m
👉 Building a Storybrand by Donald Miller - https://amzn.to/3y5t0fS
👉 The ONE Thing by Gary Keller & Jay Papasan - https://amzn.to/3yciFi7
👉 The 12 Week Year - Brian Moran & Michael Lennington - https://amzn.to/3R54Smi
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👉 DISCLAIMER on Affiliate Links: I occasionally will have some affiliate links & I do earn a small commission but at no cost to you. I only recommend companies or items that I believe will save you time, money or help make your business better
👉 DISCLAIMER: I am not an attorney, CPA, insurance agent or financial advisor. My videos/podcast are for entertainment & educational purposes only and should not be construed as tax, legal, insurance or financial advice. Please seek out a qualified CPA, attorney, or specialist as needed. I'm sharing my experiences with my businesses and those I have worked for and/or helped coach.
