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Episode 6 - The Root of Profitability
Manage episode 311471192 series 3128012
内容由Jeff Kikel, ChFC, CRPC, ASBC, Jeff Kikel, CRPC, and ASBC提供。所有播客内容（包括剧集、图形和播客描述）均由 Jeff Kikel, ChFC, CRPC, ASBC, Jeff Kikel, CRPC, and ASBC 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品，您可以按照此处概述的流程进行操作https://zh.player.fm/legal。
Hey Profit Nation,
In this episode we talk about the root of profitability for your business. We discuss the dreaded "B" word Budgeting. This is the most critical element for becoming a profitable business. Your budget shows you what your income and outflows work out.
In the episode Jeff talks about Mike Michaelowicz's book Profit FIrst. In this book Mike talks about the GAAP (Generally Accepted Accounting Practices) equation which is:
Income - Expenses = Profit
Mike feels this is foolish and should be:
Income - Profits = Expenses
Based on this equation, Jeff walks you through a basic budgeting exercise using 6 sheets of paper to break down your Business and Personal Budgets.
If you are interested in learning how to do this more in detail our Profit Producers Launchpad program will we launching more in a few weeks. More information here:
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