#154: Inventory Genius: Focus on Net Profit
Net profit is one of the main focus areas that make up what it takes to become an Inventory Genius. And while you'll often hear business owners noting, focusing on and bragging about their top line number (their gross profit), the net profit is the real litmus of whether or not a business is thriving (or even surviving!).
Net profit is what you are left with at the end of the day. It's what remains after the cost of goods sold is subtracted from the sales, and the expenses are all paid. The net profit is a key part of business, but it's also a number I seldom hear people brag about. With the Inventory Genius Method, I'm working to change that. We need to have a much stronger focus on the net profit of our businesses. Tune in to learn more...
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