This is an example of the a Profit and Loss statement for a fictional network marketer named Joanne Networker for May 2009.
Most network marketers talk about how much money they make, but how much you keep is what determines if you really made money (profit), or if you didn't (loss).
Simply put, revenue (money that comes in to you) less expenses (money that you pay out) should equal profit (income).
If your expenses exceed your revenue, as is the case with Joanne Networker, you are in a deficit -- you loss money.
Please review the spreadsheet while listening to the audio.
CLICK HERE for the spreadsheet
DO NOT delete anything from the following cells on Tab 1 -- PNL: Total Revenue (B11), Total Expenses (B33), or Profit or Loss (B35). From Tab 1 - 4, don't delete anything from Line 18, column B through Column T.
They contain formulas that calculate totals automatically.
This is not the holy grail or anything like that, but make sure to use this tool as it will help you monitor your cashflow.
For your convenience, there are also tabs in the spreadsheet that serve as weekly expense reports so you monitor your expenditures on a weekly basis.
Kind regards,
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