Two words that give entrepreneurs anxiety: profit and loss.
When you think about your profit and loss statement, do you feel like your high school math class didn’t prepare you for this?
But you need to have a strong grasp on it in order to make sure your business is growing.
You don’t need to drown in the sea of receipts, estimations, and invoices.
You just need four condensed numbers.
That already sounds more manageable, doesn’t it?
These are the four areas to help you focus and break down your profits and losses.
– Revenue for the month.
– Cost to make the projects for that month.
– Cost to keep the business running.
– The profit figure.
If you do this every month, you will be able to manage your stress levels and areas of growth.
Profit and loss don’t have to feel overwhelming.
As long as you stay organized, you to stay on track.
This video will help you break down your expenses in a language you understand.