This episode is all about profit.
Profit margins are like the foundations of your business so it’s very important you pay close attention to them and that you’re fully aware of how much money you’re making every time you make a sale.
I go over how to breakdown your costs and how to use those figures to become a more profitable and resilient retailer.
We’ll cover some key but simple calculations that’ll give you a clearer picture of how your business is operating and discuss the importance of questioning and challenging yourself to make your products more profitable without harming the essential essence of your offering.
I also cover blindspots and common mistakes that business both big and small make which hurt product profitability, the importance of valuing your time in regards to scalability and discuss how harnessing opportunities created through shipping and sales channels can help you keep more of your hard-earned money.
Want to talk profit? Take a listen now.
My blog post – How to sell wholesale products – may be interesting for you.
If you enjoyed this post, why not get my Margin calculator?
It’s a spreadsheet designed to give you more detail about healthy profits.
Getting your hands on the Margin calculator is easy, and you’ll get so much more too!
It’s all part of my “Scale Your Business” FREE toolkit – a collection of resources designed to help you take your business to the next level. The toolkit contains:
E-book – 101 things to think about when you’re scaling your business
Margin calculator spreadsheet to check your profitability
E-book – Complete guide to Stock management
Workshop replay – The Launch Lowdown masterclass with Elizabeth Stiles
Ready to get the toolkit? Just put your email below to receive the link.
For more information about all three of my toolkits, click here.