Understanding Gross Profit Margin
Not sure how Gross Profit Margin impacts your cash flow, what costs should be included, and what key metrics to follow?
To be sure you have the cash you need to accomplish your business growth goals and understand the timing of the money flowing through your business and the strength of your cash position, you need to know how gross profit margin impacts key financial decisions including understanding your breakeven point.
How can this course help?
The "Understanding Gross Profit Margin" course from Numbers Coach University will equip you to understand strategies and decisions leaders make to ensure you have processes that help and not hinder cash flow. Numbers are your compass, telling you where you are and where you are heading. How can my gross profit margin tell me if I will make money or not each month? What should be included in cost of goods sold when calculating gross profit margin? What are strategies to consider that will drive cash flow?
In this brief course you learn concepts and how to apply them in your business.
After completing this course, you will be able to answer questions such as:
“What key metrics should you follow to ensure your gross profit margin is adequate to drive profits in the business?”
“What strategies can I implement to enhance my gross profit margin?"
"What are the best practices that I should consider to optimize gross profit margin?"
Who Is This Course For?
This course is for leaders of businesses and their leadership teams that want to grow their business at a sustainable pace. You are a perfect fit for this course if you are a:
- Business Owner
- Financial Leader
- Non-Financial Leader
What Will I Learn?
In this course, you will learn how gross profit margin impacts your businesses cash flow, what to include in calculating it, metrics to follow, and strategies to leverage it. By the end, you will be able to:
- Learn what should be considered cost of goods sold in your operations.
- Understand what key metrics to follow to spot issues with gross profit margin.
- Answer the question: what are the best practices around leveraging a business' gross profit margin?
- Learn how gross profit margin interacts with the other 8 essential numbers that the Numbers Coach recommends that you measure and track regularly.
Reviewing and understanding the key numbers that drive your gross profit margin will keep you from being caught off guard by a cash-flow shortage, a sudden drop in profitability, or surprised at the failure of an ill-timed initiative.
Get started today with this self-paced course that you can do in only 30 minutes (or less) to gain the insights you need to address your variable costs and leveraging best practices to drive cash flow.
This is one of many courses from Numbers Coach University that will help you Own Your Numbers!
Your Instructor
Michael Iverson, MBA, CPA spent over 30 years as a financial executive for corporations such as KPMG, American Family Restaurants, Pediatric Services of America, and Profit Recovery Group. He founded Trillium Financial, Inc. (now Numbers Coach) in 2002 to provide small to midsize businesses with key financial functions such as budgeting, cash flow forecasting, banking and capital funding, mergers and acquisition activity and more. As the Numbers Coach, he has guided many entrepreneurs and business owners along their journey to reach the summit of financial success. Mike has been featured as a business finance expert regularly on podcasts such as Small Business Matters, Scaling Up and The Profit Answer Man.
