From the course: Rocking Your First Retail Sales Job
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How money moves
From the course: Rocking Your First Retail Sales Job
How money moves
- What do you, your manager, and the CEO of your company all have in common? You all want to make money. In retail, organization make money by selling products to customers either online or in stores. And while retail businesses can make a ton of money, like make it rain type of money, it also costs a lot of money to keep a business afloat. Retailers have to pay for manufacturing, distribution, products, storefront, staff, marketing, and everything else that goes into keeping that business open. If you take the revenue of a business, that's what the store earned, and subtract the cost, what's left over is the profit. Retailers uses profits to develop new products, open new locations, or build up a cash reserve in the event of an economic downturn. So, that's how money flows. But how do you make sure you're not the ones stopping the flow? By focusing on those two big buckets. Revenue, the amount of money made, and cost, the amount of money spent. Your impact on increasing revenue or…
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