TBL Episode 116: How profitable should an online business be (2.0)?
Feb 01, 2021•30 min•Transcript available on Metacast Episode description
One of the first topics we covered in this podcast was about understanding how profitable your online business should be. It’s been almost 3 years ago we released that episode, so we wanted to check back in and share our updated outlook on what a profitable online business looks like. In this episode, we discuss: - What profit is and how much of it your online business can have
- Why only focusing on revenue won’t guarantee you a profitable online business
- How our clients’ profit margins have changed over the past 3 years
- What information you need from your financial reports to help you understand your own profits
- How your business model and marketing strategy can greatly affect your profitability potential
- How proper bookkeeping can make your business far more profitable
