For many people, math is hard, but I promise this post won’t be! (Perhaps I should have changed the title of this post?) Really the mathematics of profit are pretty simple. Where confusion occurs is treating turnover as a surrogate for profit.
Just focusing on Gross Profit, which includes ALL your variable Cost of Goods Sold, including labour, there is a pretty simple equation. More...
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Dr Greg Chapman is the Director of Empower Business Solutions and is Australia's Lea ding Advisor on Emerging Businesses and provides Coaching and Consulting advice to Australian Small Business Owners in Marketing & Business Strategies Planning & Systems. He is also the author of The Five Pillars of Guaranteed Business Success and Price: How You Can Charge More Without Losing Sales.
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