Integrity Moments - November 9, 2016

 

The Second Key to Financial Success – Gross Profit Margin

Years ago, Randy’s home remodeling business was struggling. Randy hired me to help.

In construction, bidding jobs profitably is critical. You need to properly estimate your direct job costs, and add enough profit to sustain your business.

The amount of profit you add to a job, compared to your total bid, is called your gross profit margin. By setting a gross profit margin goal for Randy we improved his profit by $70,000.

Jesus taught in Mark 4:8, “Other seeds fell into the good soil, and as they grew up and increased, they yielded a cropand produced thirty, sixty, and a hundredfold.”

An easy way to increase your yield, or profit, is to focus on my “Unconventional Business” book’s second key to financial success, your gross profit margin.

Learn more about Rick Boxx and Integrity Resource Center

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