The Sugar Show

The SugarShow: S3 Ep2 Knowing Your Beauty Business Numbers with Kenesha Coleman

January 24, 2021 Shannon "The SugarMama"
The Sugar Show
The SugarShow: S3 Ep2 Knowing Your Beauty Business Numbers with Kenesha Coleman
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The Sugar Show
The SugarShow: S3 Ep2 Knowing Your Beauty Business Numbers with Kenesha Coleman
Jan 24, 2021
Shannon "The SugarMama"

Kenesha Coleman, The Beauty CPA is back with another jam packed episode where she drops the knowledge bombs!

In this episode, we go over:

Episode #3 Knowing your Beauty Business’ Numbers

  1. The importance of knowing your business’ numbers
    1. Be aware of the financial health of your business
    2. Make sound business decisions
    3. Use the numbers as a tool to strategically grow    
  2. It all starts with Bookkeeping
    1. You can’t manage what you don’t track
    2. What is bookkeeping?
  3. Knowing the “story” behind your business’ numbers
    1. Don’t do bookkeeping for the sake of bookkeeping, know the “story” behind what the numbers are telling you
    2. Are you profitable?
      1. Gross margin - service or product profitability?
      2. Profit margin - overall business profitability?
    3. Business Performance
      1. How did you perform this month compared to last month?
    4. Progress toward the financial goal?
      1. How did we perform compared to the budget?
      2. Are we progressing toward our financial goals?
        1. Course correct on things going wrong
        2. Lean in when things are going right!

 

NEED MORE SUGARY INSPIRATION?
Get Your Sugaring Business Found and Network with the Sugaring Industry
by Joining The SugarNetwork  and tagging your sugaring biz on @TheSugarNetwork on IG!

To meet more inspiring Sugarists and business masters, join us in the Love2Sugar FB Community for more knowledge!

Join us on the 'gram: @love2sugar
Did you enjoy this Sweet Episode?  Be sure to hit SUBSCRIBE + leave a REVIEW and tell us why!  
Thank you for joining us on this sugar journey!

 

Show Notes

Kenesha Coleman, The Beauty CPA is back with another jam packed episode where she drops the knowledge bombs!

In this episode, we go over:

Episode #3 Knowing your Beauty Business’ Numbers

  1. The importance of knowing your business’ numbers
    1. Be aware of the financial health of your business
    2. Make sound business decisions
    3. Use the numbers as a tool to strategically grow    
  2. It all starts with Bookkeeping
    1. You can’t manage what you don’t track
    2. What is bookkeeping?
  3. Knowing the “story” behind your business’ numbers
    1. Don’t do bookkeeping for the sake of bookkeeping, know the “story” behind what the numbers are telling you
    2. Are you profitable?
      1. Gross margin - service or product profitability?
      2. Profit margin - overall business profitability?
    3. Business Performance
      1. How did you perform this month compared to last month?
    4. Progress toward the financial goal?
      1. How did we perform compared to the budget?
      2. Are we progressing toward our financial goals?
        1. Course correct on things going wrong
        2. Lean in when things are going right!

 

NEED MORE SUGARY INSPIRATION?
Get Your Sugaring Business Found and Network with the Sugaring Industry
by Joining The SugarNetwork  and tagging your sugaring biz on @TheSugarNetwork on IG!

To meet more inspiring Sugarists and business masters, join us in the Love2Sugar FB Community for more knowledge!

Join us on the 'gram: @love2sugar
Did you enjoy this Sweet Episode?  Be sure to hit SUBSCRIBE + leave a REVIEW and tell us why!  
Thank you for joining us on this sugar journey!