How to Make More Money Utilizing Your Profit and Loss Statement

Episode 80In today’s episode we are going to take a deep dive into the profit and loss (P&L) statement covering topics such as 1) what is a P&L statement?;  2) Why is a P&L so important; 3) What to do when you receive your P&L?; and 4) What strategies Ken and I use in our own businesses to analyze our books and make decisions that drive value? Listen to the episode and know how to utilize the P&L statement! [00:01 - 05:27] Opening SegmentWhy a profit and loss (P&L) statement is important in a businessDavid explains 2 ways to get a P&L[05:28 - 15:28] Show Us The Money!Why we get excited when we receive our P&L We break down the net income Analyze your P&L with these key steps from David How to see trends? [15:29 - 25:07] Understanding Gross Margin Want some Amazon refunds? Check out GetidaPromo code: FTM400An MS Excel hack that you should know We talk about gross margins [25:08 - 30:13] Improving Your P&L  David talks about the “real gold” of an income statement Improve your P&L next month with these tips from David! Are you not an accounting or finance major?No problems! Listen to David’s advice [30:14 - 33:49] Closing Segment Make more money by utilizing the P&L!We summarized this episode into several key steps Connect with us. Links belowFinal words Tweetable Quotes:“The numbers speak to you in trends. Look at them and troubleshoot them up.” - Ken Wilson“Don’t let net income be an afterthought. Have it be something that you plan on.” - David SchomerResources mentioned:Firing the Man Ep. 78 on ACoS: Intersection of PPC & Profitability (PART 1)------------------------------------------------------------------------------------------Do you have a similar experience? Send us a voice message and let’s see how we can help you! FacebookYouTubeInstagramEmail us --> [email protected] US A REVIEW! Support the show

Om Podcasten

THANK YOU TO OUR 20,000+ LISTENERS! We are so thankful to be one of the TOP E-Commerce Podcasts delivering high-quality authentic content to you! Serial Entrepreneur’s David Schomer and Ken Wilson share tips, advice, and insider knowledge about all things Amazon FBA, Walmart WFS, and E-Commerce. Discover how you can create multiple income streams by selling physical products online so that you can have the time and freedom to do what you love - whether that is spending more time with family or traveling the world. Ken and David have successfully created several six and seven figure online business ventures. During the journey, they have had major wins, losses, and lessons learned. This podcast will teach you about selling physical products online through platforms such as Fulfillment by Amazon, building a team, outsourcing, listing optimization, pay per click (PPC) advertising, driving traffic to your listings, and productivity tips / life hacks that will provide a path to be successful in building your online business. It’s a mix of interviews, special co-hosts and solo shows from Ken and David you’re not going to want to miss. Hit subscribe, and get ready to change your life.