This may not be the most sexy topic to talk about but it will pay off big time in the long run. Today, we're talking accounting, numbers, and taxes and once you understand the difference between the two types of accounting I'm going to share, you'll have more money to invest wisely into your business and not into Uncle Sam's pocket. At the end, I'll share with you 3 different types of business models so you'll know what you'll want to work towards.
Time Stamps:
(0:48) The Funniest Thing in the World: Numbers
(3:18) Two Different Types of Accounting
(3:38) Write As Much Off As Possible
(5:13) Numbers to Pay Attention To
(8:40) Operating Expenses
(13:05) Overhead Expenses
(14:16) Net Profit
(16:22) 3 Different Business Models
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The Fitness Business Podcast with Erin Dimond and Jordan Dugger