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"The only way to discover the limits of the possible is to go beyond them into the impossible"

~ Anonymous

Tea Time with Liv

Watching your bottom line

Every business does not end its expenses at start up. You will constantly need to reinvest. Reinvestment can be new products to demo, samples, business materials such as catalog and brochures, advertising, and so on. But how much do you make in the end? I can ask a successful person and they have the answer. One who is not so successful will tell you the initial commission. Why? Because a successful person is always watching the bottom line and where all monies are going.

Always know what is coming in and what is going out. If you don't know these basic figures, who do you know what your profit is? Your profit is not your commission percentage. It is what comes in at the end of the day after your business expenses.

Track your mileage, prize cost that you give away, cost of catalogs, pens, anything you pay for to run your business. This is how you will find what it costs you to run your business and give you the end percentage you earn from sales.

Track money coming in and out using excel, quickbooks, an old fashion ledger. There are several programs and resources to help you keep on top of your business and watch your bottom line

Olivia Vidal
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