Have you written your goals for March yet, or are you still working on them? Goals are most often achieved when they are written down, so no matter how small they seem, put them on paper!
This week I am going to talk about your money, are you marking up your services enough to turn a healthy profit?
Margin refers to the difference between the seller’s cost for acquiring products and their selling price. Margins for product sales appear as percentages of net sales revenues.
You should always be mindful of your margins, even when selling a service. You know how much your time and product costs, and how much profit on your time or product you are looking to make. Rising costs in the marketplace should not eat into your margins. It is wise review your margins on a regular basis to make sure you are covering your operating expenses and are turning a healthy profit.
Need help with your evaluating your margins? Click here to schedule a 30 min call with me.