How to Make More Money Utilizing Your Profit and Loss Statement
Episode 80
In today’s episode we are going to take a deep dive into the profit and loss (P&L) statement covering topics such as 1) what is a P&L statement?; 2) Why is a P&L so important; 3) What to do when you receive your P&L?; and 4) What strategies Ken and I use in our own businesses to analyze our books and make decisions that drive value?
Listen to the episode and know how to utilize the P&L statement!
[00:01 - 05:27] Opening Segment
[05:28 - 15:28] Show Us The Money!
[15:29 - 25:07] Understanding Gross Margin
[25:08 - 30:13] Improving Your P&L
[30:14 - 33:49] Closing Segment
Tweetable Quotes:
“The numbers speak to you in trends. Look at them and troubleshoot them up.” - Ken Wilson
“Don’t let net income be an afterthought. Have it be something that you plan on.” - David Schomer
Resources mentioned:
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