409. A Simple 3-Step System To Tracking Your Profit & Loss In Your Business (+ How Much You Can Spend on Overhead, Labor & Marketing & Remain Profitable)

This may not be the most sexy topic to talk about but it will pay off big time in the long run. Today, we're talking accounting, numbers, and taxes and once you understand the difference between the two types of accounting I'm going to share, you'll have more money to invest wisely into your business and not into Uncle Sam's pocket. At the end, I'll share with you 3 different types of business models so you'll know what you'll want to work towards.   Time Stamps:   (0:48) The Funniest Thing in the World: Numbers (3:18) Two Different Types of Accounting (3:38) Write As Much Off As Possible (5:13) Numbers to Pay Attention To (8:40) Operating Expenses (13:05) Overhead Expenses (14:16) Net Profit (16:22) 3 Different Business Models ---------- Learn More About Impact Fitness Coaching Academy,   To Learn More About I.F.C.A. - And How We've Helped More Than 1,700 Fitness Coaches, Experts, and Influencers Grow a 5-35k+ Month Online Fitness Business Without Paid Ads, Complicated Funnels, or Even Having a Large Social Media Following    Click Here→ to VISIT THE IFCA PAGE  ---------- GIVEAWAY!  Leave a rating + review on iTunes, and Have a Chance To Win a $200 Amazon Gift Card + Special Prizes! Winners Announced Monthly on The Episode. Simply leave a review, and send a screenshot to the Fit Biz Podcast Instagram Page!