Understanding This One Number Can Make Your Small Business More Profitable

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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

Ben Sutton

Ben Sutton

Ben Sutton is the founder of Mazuma USA, an accounting firm providing tax, bookkeeping and payroll services to small businesses. Since founding Mazuma, Ben has established himself as an expert in the small business world. He’s still driven by that same desire to provide accounting help to all small businesses – from photographers, bloggers and creatives to lawyers, doctors, and dentists, everyone needs affordable accounting help. Ben is a Certified Public Accountant, and a member of the American Institute of Certified Public Accountants. But Ben considers his greatest achievement and credential to be his happy wife and four children.

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