Big Ideas Copy

Every session will provide a list of the Big Ideas that you can take away from the audio or video content. This is not an exhaustive list of ideas, so remember to take your own notes!

Net profit = total gross sales – (direct costs/ cost of goods sold + overhead/expenses)

Overhead should include the owner’s salary.

Depending on the size of the company, net profit is low if it is approximately 7%, average if it is approximately 10%, and healthy if it is approximately 15% and over. 

The larger the company, the larger the overhead percentage tends to be because admin teams are larger.