Money Matters: Determining how big you want your business to become

Starting in October, MultiFunding will host a three-course class, “ARA Masterclass: Determining How Big You Want Your Business To Become.”

The course, available exclusively to American Rental Association (ARA) members, starts with looking at and tracking profit and loss (P&L) statements differently. Typically, the top of P&L statements includes variable expenses. These expenses include the cost of goods sold, commissions, etc. These are expenses tied to the products and services delivered and sold to customers. Therefore, they will go up and down based on sales.

The bottom of P&L statements includes “other expenses.” These include items like rent, marketing expenses, payroll, insurance, travel, etc. So, if you think about the costs at the bottom of the statement, they could be broken down into two different categories: the money available to spend and the money chosen to try new things to grow and expand businesses.

Click here to learn more from Ami Kassar’s September Money Matters article.