If I asked you what your profit margins were, would you?:
a. excitedly tell me, down to the decimal?
b. groan and lament on how they need to be higher?
c. have no idea what I’m talking about?
By the end of this episode, you’ll not only understand why you should know yours but be able to figure your profit margins out, and possibly even improve that number!
Here is what’s answered in this episode:
- Why do you need to understand profit margins?
- What are profit margins are?
- What is the difference between Net and Gross profit margins?
- What are “good” profit margins?
- How do you calculate profit margins?
- Can this be explained in an easier way?
- How does a business improve its profit margins?
Are you in the Doers Shakers Makers Facebook group? You should be, it’s free to join and filled with amazing people!
This episode is sponsored by the Doers Shakers Makers Network, a membership group for talented, tiny business owners.
The Doers Shakers Makers podcast is hosted and produced by business strategist, writer, and speaker, Sierra Bailey. Did this episode inspire you or you want to share what you delegate? Send Sierra an email.