Financial Intelligence: Making Friends With Your Profit + Loss
Update: 2025-03-04
Description
In this episode, we discuss the importance of understanding your profit and loss statements and why women entrepreneurs need to embrace financial literacy. We break down the components of a P&L statement, including revenue, cost of goods, gross profit, and net profit. The discussion also covers the significance of monitoring expenses and the necessity of investing in business growth for long-term success.
Key Takeaways
- Understanding your profit and loss statements
- Why your P + L is important
- Monitoring expenses helps identify areas for cost reduction.
- Investing in your business is necessary for growth.
- Breaking even in the first year is a good goal for new businesses.
- Long-term success requires patience and strategic investment.
References
Marvelous Software Platform
Well Well Well Marketplace
References:
Marvelous Software Platform
Well Well Well Marketplace
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