The Second Key to Financial Success-Gross Profit Margin
By: Rick Boxx
September 11, 2015
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 the cost of materials and labor, and you need to add enough profit to sustain your business long term.
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 crop and produced thirty, sixty, and a hundredfold.”
An easy way to increase your yield, or profit, is to focus on our second key to financial success, your gross profit margin.
Learn more about Rick Boxx and Integrity Resource Center