How to Make More Money Utilizing Your Profit and Loss Statement

Episode 80In 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 SegmentWhy a profit and loss (P&L) statement is important in a businessDavid explains 2 ways to get a P&L[05:28 - 15:28] Show Us The Money!Why we get excited when we receive our P&L We break down the net income Analyze your P&L with these key steps from David How to see trends? [15:29 - 25:07] Understanding Gross Margin Want some Amazon refunds? Check out GetidaPromo code: FTM400An MS Excel hack that you should know We talk about gross margins [25:08 - 30:13] Improving Your P&L  David talks about the “real gold” of an income statement Improve your P&L next month with these tips from David! Are you not an accounting or finance major?No problems! Listen to David’s advice [30:14 - 33:49] Closing Segment Make more money by utilizing the P&L!We summarized this episode into several key steps Connect with us. Links belowFinal words 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 SchomerResources mentioned:Firing the Man Ep. 78 on ACoS: Intersection of PPC & Profitability (PART 1)------------------------------------------------------------------------------------------Do you have a similar experience? Send us a voice message and let’s see how we can help you! FacebookYouTubeInstagramEmail us --> [email protected] US A REVIEW! Support the show