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Revenue Is Not Profit
A business can make a lot of money and still be in trouble. Revenue is the money coming in. Profit is what is actually left after everything it takes to create, deliver, operate, and survive. I see soo many people especially delivery drivers, working for uber or cash, thinking they are getting money and they don't factor things like depreciation, gas, etc. These things when you don't analyze your true cost and just look at your revenue can sneak up and bite you in the ass. Costs to think about: Labour, Materials, Software, Rent, Fuel, Insurance, Taxes, Advertising, Admin time, Mistakes, Refunds, Repairs, Supplies, Payment fees, Vehicle costs, Your own time A lot of business owners price based on what feels fair instead of what actually works, then they end up broke and back working the corporate grind. That is how you become busy and broke. Question: Are you pricing based on profit, or are you pricing based on what you think people will accept?
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