The best business owners do this
In this segment of his YouTube video, Eric Deeran emphasizes that top-performing business owners base every major decision—whether it’s marketing spend, fulfillment strategies, hiring, or new projects—on a continuously updated profit and loss (P&L) statement. He recommends maintaining a simple, formula‑driven Google Sheet that automatically calculates profit margins as inputs change. By reviewing this live P&L daily, owners keep profit margins top‑of‑mind, enabling them to assess whether they can afford new initiatives without compromising profitability. Deeran argues that the act of constantly tracking financials creates a feedback loop: the more you look at the numbers, the more you can optimize for profit. This practice, he says, has fundamentally changed how he runs his business.
