We are finally at the point where we would like to break down our profit and loss by department. For years Erik controlled all of the finances and budgets, and didn’t share much with others, until Katya came along. She started bookkeeping and helping with the finances. A couple of years later Erik decided to implement practices from the book Profit First for budgeting purposes. That has been working out pretty well but we’re at a new point now.
Erik is now really interested to know what our profit and loss looks like at a departmental level. Our departments consist of Sales, Operations, Customer Support, and Admin, but they can be broken down even further. Erik has tasked Katya with starting to track all expenses, revenue, and even labor by department. The point is to figure out how much money each of our services brings in and how much we spend per service to come up with departmental budgets and goals for the future.
Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.
Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is the also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.