Sales Up, Profit Down? Here's Where Your Money Is Going
About this episode
The episode discusses why increased sales can lead to decreased profits and how to identify and address the underlying issues.
Your sales are up… but your profit is down. What is going on? Too many business owners find themselves working harder, bringing in more revenue, and still making less money. The first step to fixing it is not guessing. It is going straight to your Profit & Loss and comparing it to previous time periods. Most people jump straight to cutting expenses, and yes, that matters. But the real issue for many businesses is sitting in payroll, payroll taxes, and subcontractors. Instead of improving processes and developing their team, they keep adding more people. And now payroll is eating up all the profit. Today, we break down where to look, what trends to watch for, and how to address the real problem so your business can become more efficient and more profitable. ----------------------------- 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…
More episodes of Be a PROFITABLE Badass Small Business Owner
- What Makes Your Business Different?
- Easy Way to Know if it is Worth the Money
- Find Hidden Profits in Your Last 90 Days
- Subcontractor Bookkeeping Mistakes That Can Cost You Money!
- I Haven't Taken a Vacation in 10 Years… Here's Why That's a Problem
- You Do Not Have to Grow a Big Business to Make Great Money
Explore listener stats, chart rankings, contacts and more on the Be a PROFITABLE Badass Small Business Owner podcast page.