3 Ways to Know If Your Business Is Actually Making Money Your business is making sales. Money is coming into your MoMo account. Customers are buying. But do you actually know if your business is making a profit? This is one of the biggest questions many small-business owners struggle to answer. You may look at your MoMo balance and think: “I made good money this month.” But there is a big difference between money coming into your business and profit earned by your business . Let’s look at a simple example. Imagine you run a small provisions shop in Ghana. Throughout the month, customers pay you through MoMo, bank transfers and cash. At the end of the month, you check your MoMo account and see that GH¢5,000 has passed through your business. It feels like a successful month. But before you celebrate, you need to answer three important questions. 1. How Much Did You Actually Sell? The first step is to know your total sales . Let's say your business made: GH¢5,000 in sales this mon...
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