Planning for Profit is Crucial to a Business. Here’s How to Do That.

Not many would argue that developing an effective business plan regularly is a vital part of establishing the direction of a small business. However, many business owners (especially the new ones!) forget to look over the most essential part of setting up a business plan: The profit! Thankfully, there are a lot of resources out there that can help a new business put together a business plan and learn how to project future profits and losses. We also discuss how to manage profit and more importantly, how to make money as a new business in our free webinar training. For now, here are some tips on how to plan for profit now and in the future.  Accion provides an excellent overview of P&L (profit and loss statement) and what purposes they serve.  Before we jump into how to use profits, we should take a minute to clarify what profits are and how to measure them. Experts recommend all small business owners learn to compile and use a profit and loss statement (P&L). When in doubt[…]

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Planning for Profit is Crucial to a Business. Here’s How to Do That.

Not many would argue that developing an effective business plan regularly is a vital part of establishing the direction of a small business. However, many business owners (especially the new ones!) forget to look over the most essential part of setting up a business plan: The profit! Thankfully, there are a lot of resources out there that can help a new business put together a business plan and learn how to project future profits and losses. We also discuss how to manage profit and more importantly, how to make money as a new business in our free webinar training. For now, here are some tips on how to plan for profit now and in the future.  Accion provides an excellent overview of P&L (profit and loss statement) and what purposes they serve.  Before we jump into how to use profits, we should take a minute to clarify what profits are and how to measure them. Experts recommend all small business owners learn to compile and use a profit and loss statement (P&L). When in doubt[…]

Read more