Hi, I’m Amber!
Defining what “materials” are in Profit First for an Online Business
Some questions come up in our community over and over again. One of these questions that has been swirling around quite a bit recently is “How do I account for materials in my online business and still be successful with Profit First?”
Members of Profit for Keeps™️ get access to our exclusive materials calculator, but let’s cover the basics today so you feel confident you can meet your revenue goal while accounting for materials expenses.
Before you ditch out thinking you don’t have “materials” because you run an online service-based business…wait! There’s some important information you need to know! Materials expenses don’t just apply to retail or brick-and-mortar businesses!
In this episode of Profit for Joy™️ TV, I’m talking about materials expenses and where they fit in with Profit First when running a profitable and sustainable business.
We’ll cover:
- What are materials?
- Do online businesses have materials expenses?
- What is “true revenue” vs. “total revenue”?
Action steps:
We’d love to hear your thoughts:
- Subscribe to the YouTube channel to get notifications when new episodes are available!
- Post your questions in our amazing Sweet Life, Purposeful Money community
- Discover the cash flow management software we recommend HERE.
LIve AGed money challenge
Are you ready to take the first steps to untangle your personal and business finances and use your revenue goal to advance your business? Join the VIP waitlist to be the first to be notified of our next live Aged Money Challenge.
We have been told by past participants that this free experience has been worth more than the last three investments they have made in their business. In other words, you don’t want to miss it!
Get ready to lay the roadmap to a profitable and sustainable business while uncovering how to start healing your relationship with money. Remember, money is simply a resource to allow us to live a life of joy. We can’t wait to support you in our next live workshop. Big kudos to you for taking this big step towards financial self care.
0 Comments