Ever wonder what financial stuff you need to know to make more money? Ben & Greg break it down in this video to help you make more money at your small business, blog or freelance job.
0:40 Sample P&L (Profit & Loss Statement): What is Cost of Goods Sold? Why is it important to me? These expenses vary with your sales – the bigger your sales, the bigger these costs.
2:23 Visual of Cost of Goods: How much money am I really making in profit? For every dollar I make how much do I spend? How does the Cost of Goods ratio show me what I should focus on improving in my business? Decreasing Cost of Goods Sold will increase my profit. Wahoo!
4:15 The Ultimate Goal in a Graph: Net Profit increasing & Cost of Goods sold decreasing
