When there is an aspect of our business that we don’t
understand, we tell ourselves it’s because the subject matter is
too confusing or too complicated.
While there definitely are areas of expertise like
computer programming or law that take a lot of specialized
knowledge to understand fully, we can easily outsource this type of
work to experts. But when it comes to things like finance, most
entrepreneurs overthink and over complicate it because they lack a
basic foundational understanding of the role finance plays in their
Is that because finance is complicated?
It’s just difficult to find financial information
that’s specifically applicable to online business
So when an online business is struggling with something
like profitability, it’s easy to get overwhelmed about what to do.
You might even think that you aren’t capable of fixing the problem
yourself. Luckily, the reason that any business struggles to stay
profitable only comes down to two very simple
So for this episode, we discuss:
What a profitable online business really looks
The two reasons why an online business struggles with
Why it’s so hard to fix profitability issues in an
online business without financial clarity
How proper bookkeeping makes tracking your
profitability a breeze
How your P&L can help your online business to
become more profitable
About the Podcast
Bookkeeping and business education company dedicated to helping online entrepreneurs create profitable and healthy businesses.