Profit Engineering Part 3: Required Profit & Bottom Up Budgeting
5 Minutes to Brewpub Success - Season 2
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6m 44s
Dr. Meckler shows how to keep profit margins as a cost. That's right, you need to add a required profit into your recipes just like a cost. Just like rent, paying wages, utilities - profit needs to be a requirement in any business. We use Bottom Up Budgeting to do this. The bottom of your budget is a profit requirement and then we teach you how to design the required revenue to support the profit and your other costs.
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