Increase Your Profit by Understanding the Numbers
5.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
20 students enrolled

Increase Your Profit by Understanding the Numbers

Managing your business with a business mindset
5.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
20 students enrolled
Created by Vincent Turner
Last updated 11/2017
English
English [Auto-generated]
Current price: $27.99 Original price: $39.99 Discount: 30% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Structure a business to maximize profit.
Requirements
  • This course has no prerequisites. It covers very basic concepts.
Description

Break even point. Cost structure. Margin.  These are words that entrepreneurs and investors throw around.  What do they mean?  How do they impact profit?  Can you be conversant with these terms?

This course will provide you the overall perspective to generate more profit.  Rather than toil away doing more things faster, you will learn the key numbers and how they can be monitored and modified.  Your perspective will move from working IN your business, to working ON your business.

Who this course is for:
  • Students, businesses owners, managers and entrepreneurs
Course content
Expand all 19 lectures 55:46
+ Introduction
1 lecture 02:00

Welcome to the course!  Many business owners pursue just one strategy to increase profit - they try to sell more stuff!  In this course we are going to develop a new perspective on business and learn the key numbers that lead to improving our business.  This will be a fun and enjoyable experience.

Preview 02:00
+ Ben's Ice Cream Cones
3 lectures 13:10

Before you can make a profit, you must break even.  But you say "I want to do more than just break even!".  Yes, but do you know what your break even point is?  How many ice cream cones does Ben have to sell to cover all of his expenses?  We'll find out.  And we will begin to develop a formula for computing this key number.

Preview 04:29

We need to make sure that we are talking the same language.  We will define our key terms.

Business terms for Ben
04:44

You may have heard the term Cost Structure before.  Entrepreneurs and venture capitalists throw this buzz word around freely.  But what is it?  And why should you care.

Preview 03:57
+ A new mindset
4 lectures 12:57

When you first saw this course, you may have thought: "Increase profit? Just sell more stuff!"  that is the common mindset of many business people.  And that is exactly why they may not become successful.  We'll see why in this lecture.

An old business mindset
02:32

We need a new mindset to maximize our profit.  With the viewpoint that you will see in this lecture, you will be able to begin to work on your business and fine tune the components that will lead to success.

A new way of looking at your business!
03:23

Take a moment in this lecture and explore how you would tweak your resources to benefit your organization.

How else can we increase profit?
03:15

And here we see that there are in fact ways to enhance our business in addition to just selling more stuff.

Good answers!
03:47
+ The Risks
4 lectures 09:21

Reducing variable costs is praiseworthy but what are the risks?  We'll find out.

No one will taste the difference.
02:06

Reducing fixed costs can lead to some problems.  

But what if it rains?
02:31

Selling more stuff works.  And it works for the right reasons.

Just sell more!
02:07

Increasing the price can have a dramatic impact on profit.  If we do not lose customers.

Increase the price.
02:37
+ The Benefits
5 lectures 12:06

Now that we have gotten the risks out of the way, the benefits of adjusting our parameters can be very beneficial.

Let's be positive.
02:10

Reducing variable costs increases profit.  In this lecture we'll see how that benefits Ben.

We found cheaper ice cream.
02:06

Reducing fixed costs goes directly to increasing profit.  Ben sees the results in this lecture.

The landlord likes us.
02:09

Ben increases his price.  How much does that affect profit?  We'll see here.

Charge more!
02:52

Selling more stuff is great.  How does it compare to our other strategies?

And we can always sell more.
02:49
+ Let's start from scratch
1 lecture 02:43

Ben should not be constrained by the parameters we have discussed.  He may want to do an entire renovation of his business model.  What would be some of the things he would do?

What about restructuring?
02:43
+ What we learned.
1 lecture 03:29

You learned a great deal in this relatively short course!  Go prosper!

We learned a few things.
03:29