The One Question Every Entrepreneur Should Be Able to Answer

Have you ever been caught off guard when someone asks about your gross profit? On a recent episode of my new favorite show, The Fixer, Marcus Lemonis posed that exact question to a group of entrepreneurs—right after noting that they should have been prepared for it. It was a striking moment and really got me thinking.

On The Fixer, Marcus Lemonis offers business advice and, where he sees potential, invests in struggling businesses. The question about gross profit came as a teaser for an upcoming episode, but its impact lingered with me. It made me realize that many business owners might struggle to answer because they lack an organized accounting system or a clear view of their finances.

This idea was echoed at the recent Tech Alley Henderson event I attended. Panelists included a tax strategist, a banker, a venture capital pro, and an alternative funding specialist. The tax strategist emphasized that having a solid bookkeeper and tax advisor is essential for your team. The banker made it clear that they rely on clean, accurate financials when deciding who to lend to.

So let me ask you: Do you know your gross profit? If you’re unsure, that’s completely okay—realizing what you don’t know is often the first step toward building a stronger, more financially secure business. This month, we’ll be taking a deep dive into all things gross profit, so that the next time this question comes your way, you’ll be ready to answer with clarity and confidence.

Keep IT Sunny~