Soulful Mba

In this episode, where we dig into everything you need to know about profit and loss statements.  Understanding the numbers and margins that our business generates each month can be intimidating—and understandably so—but we are here to tell you why it is actually incredibly empowering to be aware of your finances. Our profit and loss statements and balance sheets give us valuable incremental information that we use to make decisions each and every month in our company. While P&L statements may seem impenetrable, having a clear understanding of what they are telling us makes it SO much easier to make properly educated decisions moving forward. We help you understand the different sections of a profit and loss statement, the difference between gross and net profit, as well as the difference between top line and bottom line revenue today. We also get into the logical progression any new business must take, from requiring capital to breaking even and, finally, to generating revenue. We speak about the side hu