Your gross profit and business decisions
There are so many needed, powerful and insightful business decisions you need to make. You can’t do that unless you know some key financial numbers. Gross profit is one of them.
What sort of decisions, let’s list a few
- Break even. How much you need to sell to cover costs, meet your financial targets, your safety cushion.
- How much you should charge your customers? Pricing your products and services. In addition, pricing and gross profit go hand in hand.
- Outsourcing decisions. Should you or shouldn’t you. Cost versus benefits, the numbers side needs, you guessed it….
- Controlling and managing costs. Better margins come from increasing your selling price, reducing waste, improving processes, better buying.
- Cash flows. Stronger gross profits equals stronger cash flows
Listen to find out more
You manage what you measure
Let’s get serious. If you don’t go digital, embrace cloud accounting then running your business just became a whole lot harder.
If you’re serious about your business, and don’t see it as a hobby then go cloud. The tedium, cost, and inefficiency of alternatives is too painful to think about.
FREE online calculators
Most of us want to sell more, make more profit, who wouldn’t ?
Knowing what your costs, mark ups and margins are, and need to be is one way.
Our FREE profit calculator shows you what gross profit you are making now. What gross profit you could make if you altered selling price and costs.
We have other FREE profit and business calculators for you to use. Type in your numbers and see what the numbers show for your business.
Conclusion
Why Gross Profit is a big deal for your Business for all the reasons listed above. Ignore it at your peril.
The podcast is part of my mission to help you get closer to your numbers, to appreciate the power of what those numbers can do. Improve your money mindset, help you make more profits, save taxes, and help you have the business you want and deserve. Get in touch with us to see how we can help you with your accounting and business needs.
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In This Episode
- Appreciating that your business health needs a financial barometer
- Being aware that pricing strategies, what to charge is tied in with your gross profit
- Understanding how to calculate gross profit
- Learning about key business information and decisions
- Tips to improve your margin.
- Developing your own Numbers confidence and decisions
- Take more control of your numbers to help make you money, survive and thrive.
Links
https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288
https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers
https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins
https://www.stitcher.com/podcast/proactiveresolutionss-podcast
https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/