Jun 29, 2020
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.
In this episode, 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 the simple calculations (which I've included below)
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.