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Sabrina flies solo this episode to tackle the document most home service owners avoid — the profit and loss statement. No accounting degree required. She breaks it down to just three lines worth watching, and shares the story of the stranger she cold-emailed who ended up shaping her entire financial education.
What you'll learn in this episode
-Why Sabrina says most owners read their P&L the same way they read contracts and avoid it entirely...
-The cold email Sabrina sent a complete stranger that turned into a years-long mentorship...
-What Debbie Sardone means when she says "the numbers never lie"...
-The first of three lines to watch on your P&L: gross revenue, and what trend to actually look for...
-What gross margin really means, and the percentage Sabrina says most home service businesses should aim for...
-The difference between net profit and what's actually sitting in your checking account...
-The simple gut-check using your owner's draw that reveals whether you're paying yourself from profit — or just drawing down the company...
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