Kenesha Coleman, The Beauty CPA is back with another jam packed episode where she drops the knowledge bombs!
In this episode, we go over:
Episode #3 Knowing your Beauty Business’ Numbers
The importance of knowing your business’ numbers
Be aware of the financial health of your business
Make sound business decisions
Use the numbers as a tool to strategically grow
It all starts with Bookkeeping
You can’t manage what you don’t track
What is bookkeeping?
Knowing the “story” behind your business’ numbers
Don’t do bookkeeping for the sake of bookkeeping, know the “story” behind what the numbers are telling you
Are you profitable?
Gross margin - service or product profitability?
Profit margin - overall business profitability?
Business Performance
How did you perform this month compared to last month?
Progress toward the financial goal?
How did we perform compared to the budget?
Are we progressing toward our financial goals?
Course correct on things going wrong
Lean in when things are going right!
NEED MORE SUGARY INSPIRATION?
Get Your Sugaring Business Found and Network with the Sugaring Industry
by Joining The SugarNetwork and tagging your sugaring biz on @TheSugarNetwork on IG!
To meet more inspiring Sugarists and business masters, join us in the Love2Sugar FB Community for more knowledge!
Join us on the 'gram: @love2sugar
Did you enjoy this Sweet Episode? Be sure to hit SUBSCRIBE + leave a REVIEW and tell us why!
Thank you for joining us on this sugar journey!
