PLEASE NOTE: This session is the second of six sessions included in this series. Students MUST have registered for the first session that was held on February 11 to partcipate in the remaining courses.
As an extension of our commitment to providing more educational opportunities as our Members have requested from us, We are proud to announce our 2nd course in a series of courses in conjuction with DTP Leadership Group, entitled: "Understanding the Power of the P&L".
Description: Join Liz Cloud in a dynamic virtual program designed to empower entrepreneurs and business owners with essential financial skills. Discover how to conduct a swift and straightforward analysis of your business’s financial health and leverage that knowledge to significantly boost profitability. The journey begins with decoding your Profit and Loss Statement (P&L), enabling you to make informed decisions that drive your business forward.
Participants will gain:
Savvy Business Owners Understand Financial Principles: Gain a solid grasp of fundamental financial concepts crucial for driving your business forward and making informed decisions that enhance profitability.
Understanding the Power of the P&L: Learn to effectively interpret your Profit and Loss Statement (P&L) to uncover insights that directly impact your bottom line. Master techniques to swiftly analyze financial data, enabling proactive decision-making.
Options for Increasing Revenue:Explore practical strategies to boost your business's income without significant additional effort. Discover six proven methods to increase your gross revenue, understand your breakeven point, and manage accounts receivable effectively.
Factors Affecting COGS & 6 Ways to Lower It: Delve into the factors influencing your Cost of Goods Sold (COGS) and learn six actionable strategies to reduce it. By optimizing your COGS, you'll enhance your Gross Profit Margin (GPM) and maximize profitability.
Multiple Ways to Lower Overhead: Identify and implement various approaches to reduce your overhead costs, freeing up resources for growth and innovation. Effectively managing fixed costs will positively impact your Net Profit Margin (NPM) and overall financial health.
Building Your P&L Statement: Learn how to build your profit and loss statement from scratch, discover your business’s true financial potential, and assess the potential effectiveness of Facebook advertising for your business.
In this comprehensive 5-session program, you'll gain mastery over your profit and loss statement, empowering you to streamline operations and unlock substantial profitability improvements. Join us to transform the way you manage your business finances and propel your enterprise toward greater success!
Virtual Sessions:
Platform: Zoom
Benefits: Participate in the comfort of your own space.
Schedule: February 11, 18, 25; March 4, 11, 18; 9:00-10:00am; Check-in 8:55am
Session Details:
1: Welcome and Introductions
Meet the participants.
Discuss Prework questionnaires and videos.
2: Introduction to the Profit and Loss Statement
Understand the purpose and significance of the Profit and Loss Statement.
Learn to interpret the key components: Revenue, Gross Profit Margin (GPM), and Net Profit Margin (NPM).
3: Increasing Revenue
Discover 6 options for increasing your gross revenue.
Learn how to find your business’s breakeven point.
Understand how to get your accounts receivable under control.
4: Managing Cost of Goods Sold (COGS)
Understand the concept of Cost of Goods Sold (COGS).
Identify factors affecting COGS.
Learn 6 ways to lower your COGS.
5: Reducing Overhead Costs
Understand the concept of Overhead costs (Fixed Costs).
Learn strategies to reduce Overhead costs.
6: Building and Utilizing the Profit and Loss Statement
Learn to create a Profit and Loss Statement from the ground up.
Discover your business’s true financial potential.
Evaluate the potential effectiveness of Facebook advertising for your business.
Take control of your financial future, make informed decisions, and watch your business thrive. This is your opportunity to unlock the full potential of your enterprise and achieve lasting financial success. Embrace the power of the P&L statement and elevate your business to new heights!
