Understanding the financial end of your business is crucial to your business success. In this video Bob helps you understand the difference between "gross margin" and "gross margin percentage."
Пікірлер: 77
@alexguaman1833 Жыл бұрын
WAOOOOOO LITERALLY SOLVED MY BUSINESS PROBLEM. THANK YOU
@TapeGenie7 жыл бұрын
You have a way of explaining these concepts that keeps it simple. As an innovator, it has been hard to discern pricing and it takes years to get a clear price. THANK YOU.
@royaldiadem7623 ай бұрын
My Goodness!! I hate math! I’m going into business and am forcing myself to learn the basics. This was excellent! EXCELLENT! THANK YOU!
@alvarez8282able4 жыл бұрын
Wrong answer at 6:41 Correct answer is 357🙏 Great feed back
@victor1011116 жыл бұрын
I was stressed before I watch this video but I am now happy and it will add value to my business. Thank you
@KennethChilds Жыл бұрын
Awesome video. Thanks for making it clear and understandable for normal people who don't have a finance degree.
@alexiswalker2822 Жыл бұрын
This was so clear oh my gosh I can finally explain GM in my own words and I understand the importance of it now. Thanks!
@jeddinger61386 жыл бұрын
Thank you for a really clear description of how profit margin works!
@pamelaphili21004 жыл бұрын
Amazing!! didn't want the video to end ,thank you
@fernando2544726 жыл бұрын
i was looking for and easy way to explain this topics in english to my foreign students. excellent class and video . greetings from Ecuador.
@axia21366 жыл бұрын
Excellent thank you. "Mark up" " gross profit as a % of cost price" I need to understand now along with " cost of good sold as a percentage of selling price".
@KELLYKH7 жыл бұрын
what a fantastic video! thank you!
@oksanaandmark2678 Жыл бұрын
very good and very helpful
@mosiarmstrong3 жыл бұрын
Great, great explanation. I immediately understood this concept after trying to read it in a book and drawing a blank for about 15 minutes. Why did you stop doing videos?
@Sector28Designs2 жыл бұрын
awesome explanation! great job
@ellipticaltz94205 жыл бұрын
it's funny and strange when i started my fruit business, i sat down and did this calculations on based on my simple understanding since i never studied management or entrepreneur but i always take the cost of every penny i used and divide it with the number of products am to produce then from there i get the value of every product after i get the value i set the amount i need on each product. my amount always include a penny to save, and to spend since i already have the cost to run the business. surprising to know that there is a name and formula of what i always been doing, tho am very grateful for this video because am expanding my business and working on my business plan i have to understand gross margin and thanks to you made it even clear for me. much love be blessed
@ethelbumanlag93654 жыл бұрын
Very informative, now I truly understand something that's quite "alien" to my ears, never been explained as thoroughly as you did..thanks so much prof.!
@marchanselthomas Жыл бұрын
Lovely tutorial
@ensazstudio12007 жыл бұрын
thanks sir. great lesson I learn from you today as I just starting out my new business :)
@عبدالقادرعبدالرحمنعبدالله2 жыл бұрын
wow ! this concept was a pain to me but you are my pain killer. thank you.
@lotsa20005 жыл бұрын
Wow. Awesome video! Thank you for explaining. I am taking Bloomberg Market Concepts training and came here to figure out what they were talking about regarding Gross Margin.
@yashaspa2 жыл бұрын
Fantastically explained!
@kyotakennedy15923 жыл бұрын
i like the way he explained the lesson its quite entertaining
@miracleking-coop7 ай бұрын
Thank you great information
@maxsonbentley17673 жыл бұрын
Really helpful video. Please i need some more similar videos.
@gladyschepngeno68323 жыл бұрын
Very clear. Thanks
@ShadowHandzz4 жыл бұрын
Thanks Bob and crew, great video!
@christianbarros15807 жыл бұрын
Great energy
@vahidmacvandi12973 жыл бұрын
Thanks for the clear explanation!
@Namastame4 жыл бұрын
Instructors that make information consumable are so important. Some (usually Ph.D.'s) convolute material to the point you want to give up as a way to "prove" that they lead a complex, extensive course when in actuality they are poor instructors.
@tinnguyen22195 жыл бұрын
Thank you so much for sharing this useful data! Greatly appreciated.
@shedrickyaure53264 жыл бұрын
Thanks sir the explanation is very clear.
@sl1ckspurs4 жыл бұрын
This was brilliant. Thanks kindly for doing this.
@misatoshi07mohammed206 жыл бұрын
And don't forget its different when you are finding the percentage base on the SELLING PRICE and percentage base on COST PRICE. But thanks for sharing
@AdityaGupta-rd5ul4 жыл бұрын
Great Example Thank you
@goodpropltd83825 жыл бұрын
Great Explanation impressed!
@CupcakeBeauty245 жыл бұрын
I feel like he just sold me an accounting book from one of those famous infomercials lol :)
@jayanathgalahitigama70347 жыл бұрын
u really is an amazing lecture...thnx for everything....
@zephsee83755 жыл бұрын
its super clear wow thnks
@clarariba78078 жыл бұрын
Provide cost breakdown structure to calculate the running cost of the business
@HaramArellano-m4t Жыл бұрын
also you need to consider taxes, Worker comp and labor Burden. can you also do one for a General contractor
@soldadopreciso5 жыл бұрын
thanks pal , greetings from Ecuador.
@IshtiakKhan3 жыл бұрын
You are literary awesome
@mbonayosopi-chandelle37053 жыл бұрын
Thank you so much !!!
@kingsleyukaulor37043 жыл бұрын
So fantastic!
@Live4Christ1556 жыл бұрын
Thank YOU!! REALLY HELPED ME
@your_mother_likes_geography3 жыл бұрын
Good video.. just one question tho..isn't the margin= profit/cost of goods sold?
@scottylindsey3 жыл бұрын
What’s an easy formula for evaluation of a company?
@user-wk5ws8iv4e4 жыл бұрын
Wow this taught me a lot
@nightrider314417 күн бұрын
If I sell a thing at 152 and cost is 83.10 what will be profit margin
@Daveglorious Жыл бұрын
Great vid-)
@muhammedajmal96204 жыл бұрын
GOOD ONE. THANK U
@normacocks84105 жыл бұрын
IT WAS SUCCESSFULLY HELPFUL☺
@praveenagarkar4 жыл бұрын
Thanks !
@sweetscoresteph4 жыл бұрын
What’s the difference between gross margin and IMU (initial markup unit)?
@mehmetgoktepe43948 жыл бұрын
Hi Bob, thanks for informative video. Can you please also clarify the difference between standard GM and gross margin ? In your video the GM you found is before or after landed costs ?
@magdavanstraten35878 жыл бұрын
Hi Bob how do I compile a sales forecast for a financial plan
@melindaslater62225 жыл бұрын
Bob. If I'm trying to figure out my GPM including both my sales and my services income (hourly). Do I add my product sales and my gross service income and then subtract COGS?
@rrb267555 жыл бұрын
It's 357
@jenoma25013 жыл бұрын
What happened to this speaker? Great video
@anythingtechno6 жыл бұрын
Thanks you
@danielmcelhannon24167 жыл бұрын
Thanks.
@ibraheemali9541 Жыл бұрын
7:36 * 172
@man4ela86 жыл бұрын
In order to make 1000 with profit of 2.80, she need to sell around 357 not 347
@4amwaj6 жыл бұрын
357 bars of soap actually to make her $1000. haha love the video. thanks for the help
@marchanselthomas Жыл бұрын
She'd have to sell 357 and not 347. I don't mean to make her cry all the more.
@hersheeesh2 жыл бұрын
I'm here because I think the one written on our module is wrong lol
@Fw88886 жыл бұрын
You should change your clip title to “I can explain far better what is Gross Margin and % to all the other garbage piece of shit explanation videos”. Good job and big thank you. Watched more than 5 videos and NONE of them explain better in simple words than yours.
@911neverforget35 жыл бұрын
Lol. I love the way you explain things. But your director is no Scorsese. Thanks anyways.
@shine6454 жыл бұрын
1000÷2.80= 357 NOT 347!!!!!!!!!!!
@ThisIsCamsBurner7 жыл бұрын
Come on mark! He's on camera 😤
@biblebloopers9462 жыл бұрын
I am so sick of the same answer. When I asked what should my gross margin percentage be I always get the same stupid answer. It depends on blah blah blah. Ok????????? Just telling me it depends on something doesn't answer my question. So if I were to tell you I am starting a small residential HVAC company here in Las Vegas Nevada, what should my gross margin percentage be? Answer...... Well that depends. They never tell you what it depends on. Depends on what? Tell me what that number supposed to be and how do I get to it? Why doesn't anybody ever explain how do I get to the specific number? It always depends it always depends. But they never tell you what exactly it depends on. It's like a cliche. It just depends. It depends on your overhead. Okay and then I give them what my overheads going to be and well that depends it depends on something else. They never tell you how to get to that number. What exactly does it depend on and how do I go about finding what that gross margin percentage is supposed to be? It depends