Understand YOUR NUMBERS!!! Markup vs. Margin - Making Awesome 160

This week we dive back into the $$$ of running a business, with the difference between Markup and Margin. Knowing these terms is essential for any small business wanting to keep an eye on their finances, but not knowing what separates them, and why that matters can make you grossly overestimate your profit. We will give some examples, go through why the numbers may SOUND good, but why in reality, you probably did not charge enough. Topics to cover: Which is better, Markup or Margin? How markup is related to profit? Where profit fits into all this? COGS - Cost of Goods Sold Variable vs. fixed costs AND MORE!!! __________________________________ Do you have an idea you want to get off the ground? Reach out to the Making Awesome Podcast through https://3DMusketeers.com/podcast and someone will get you set up to be a guest! 🎁 Support us directly on Patreon! 🧡💯 https://patreon.com/3DMusketeers 🎁 YouTube Channel Memberships! 🧡💯 https://b.link/YTmembership 🎁 Join our Discord Via Paypal (or the others)🧡💯 https://b.link/10Paypal 🛒 Shop Amazon with our Affiliate Code: https://amzn.to/3hrzVcL 🛒 Shop GreenGate3D with our Affiliate Code: https://b.link/GreenGate3D 🛒 Shop Prusa with our Affiliate Code: https://shop.prusa3d.com/#a_aid=3DM 🛒 Shop Slice Engineering with our Affiliate Link to save some 💰 💰!! https://b.link/Slice-Engineering Save 💰 💰 on Zyltech Filament use code 3DM at checkout for sweet savings off your entire order: https://Zyltech.com code: 3DM Want Great Royalty FREE music? Choose Epidemic Sound: https://b.link/EpidemicSound ____________________________________ Keep up to date by following us here! Website: https://3DMusketeers.com Twitter: https://twitter.com/3d_musketeers Facebook: https://www.facebook.com/3DMusketeers Instagram: https://www.instagram.com/3dmusketeers/ LinkedIn: https://www.linkedin.com/company/3dmusketeers Email: [email protected] #markupvsmargin #netprofit #grossprofit #profit #markup #margin #smallbusiness #smallbusiness101 FTC Disclaimer: A percentage of sales is made through Affiliate links