Gross Profit vs Net Profit

Many business owners make the mistake of not knowing the difference between the terms Gross Profit and Net Profit. It is very important that you learn the differences between these.

So, gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. Aka: Revenue - Materials & Labor

In business, net income is an entity's income minus the cost of goods sold, expenses, depreciation and amortization, interest, and taxes for a set period, or to put it more simply: the actual profit after working expenses not included in the calculation of gross profit has been paid.

Calculate your overhead!

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Mike Claudio is a seasoned sales and business development professional with 15+ years of sales and sales leadership experience. He has helped several construction companies grow from a leadership position and decided to turn that into a career as a sales consultant and coach for professionals in the construction industry via starting WinRate Consulting in early 2018. So far Mike has worked with over 25 companies and helped several grow by 7-figures in process.

Mike is driven by helping business owners and sales professionals reach their potential by teaching his best practices created through on the job training with sales and leadership roles in several types of industries and business types along the way. He is a published author, a professional speaker, multiple business owner, Father, and Husband.