Please forgive me. But I am needing help. I am running a business for 15 years. And another for going on 3. You would think that I would be good at this by now. How do I have a profit if I’m barely surviving. I don’t have any money left over to pay taxes let alone call it a profit. It’s like I’m struggling. And can’t figure this crap out. -Mr. Overwhelmed
Profit = (price * volume) - cost. Price sometime is hard to change adjust and might not mkae that much difderence. Volume, a lot of time you cant control. That leave 1 thing lefr, cost which you havr 100% control. Look over your expense. Start cutting cost, shopping around. Do you need all the employees? Can you do with 1 or 2 less? What if you do a little more, can u remove 1 person? Some people run a business that does 2m or 4m and lose money or break even. While some people does the exact same business, but can get a 10-15% profit. Its all due to expense think price before spending something. Spending isnt just a write off, its money out of your pocket