May 19 • General discussion
Business 101: Revenue vs Profit
A lot of new business owners celebrate hitting $100,000 in sales without asking the most important question.
What did it cost you to make that $100,000?
Revenue is the money coming in. Profit is what is left after you pay for everything it took to generate that revenue. Materials. Labor. Software. Marketing. Fees. Delivery.
A business doing $100,000 a month with $95,000 in expenses is not a $100,000 business. It is a $5,000 business working very hard.
Know both numbers. Always.
What is your current profit margin? Drop it in the comments.
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Business 101: Revenue vs Profit
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