Financial Metrics: Net Income
Dec 26, 2019•31 min•Ep. 6
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Episode description
“A service-based company should be making 15% net income, 10% is the break-even.” - Jody Grunden
The finer details of this episode
- Why 10% is the new break-even
- How profit margins get smaller as your company gets bigger
- The sections of an income statement and why they are important
- How to calculate your actual gross profit and determine what it should be
- How much to invest in your employees outside of their paycheck
- The difference between overhead cost and production cost
- What you can do to increase your gross profit
- How to prepare for a recession
Episode resources
- Summit CPA website - www.summitcpa.net
- Email us with questions/comments- vcfo@summitcpa.net
For the best experience, listen in Metacast app for iOS or Android