In the previous video, we have been talking about knowing your numbers in your business. What are the 3 numbers you need to know in your business in order for it to be healthy and viable?
The first number is your income.
Do you know with absolute clarity how much you're generating in your business every single month from your clients and your customers?
The second number is your expenses.
How much does it actually cost you to be in business every single month? Do you know that number?
And then... when you subtract your expenses from your income, that should be giving you the third number.
Your profit - which is the third number you need to know.
Now, in an ideal world, we want our expenses to be less than our income so that you know what your profit is and what is remaining. If you know those three numbers, you're going to be in great shape.
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