What do we mean by understand your numbers? Part 2
Mar 09, 2021 by Roger Scherping in mistakes, loan, financial impact
In my previous blog LINK I gave many real life examples of small businesses and entrepreneurs making serious mistakes because they didn’t understand the numbers of their business. Here’s a quick summary: Focusing only on the top line (sales) instead of on the bottom line (profit) Not understanding how their sales break down across products Not measuring gross margin and having no idea how much they make on each sale Not understanding how their gross margin breaks down across products ... [continue reading]