Mar 4, 2021
A Break-Even Analysis is an indispensable tool for businesses of
every shape and size, and reaping its benefits only requires
inputting a few simple figures, pulled from your outgoings and
income, to help you better understand where your business is and
what you need to do to take it forward. I know going over the
numbers may not be the most exhilarating part of running your
business, but it’s imperative that you know what it takes to keep
everything running and what your levels of profitability are if you
want to be able to cover your costs and pay yourself.
In episode 31 of The Resilient Retail Game Plan, I break down
Break-Even Analysis. We'll cover the simple and effective equations
required to help you get a handle on your profits margins as well
as identifying the vital difference between product costs and
overheads, and how growing your average profitability doesn't
always have to mean generating more orders. By the end of this
episode, you should have a better idea of what's coming in and
going out of your business and will be able to use that
all-important information to set yourself the sort of targets that
will help you and your business thrive.