Your Most Useful Numbers Tool: The Single-Title P&L
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You may feel you’d rather have your teeth pulled than wade into “numbers.” But publishers do have to do the math to survive and thrive. This means dealing with a lot of numbers, all of which interact, so you need spreadsheets to manage them. Having worked with a few thousand spreadsheets, I have a favorite format and approach. It’s called a single-title P&L.
The single-title P&L is a management tool for internal use only. It’s not intended to comply with accounting rules and regulations, and it doesn’t look quite like the Income Statements (informally called P&Ls) that your accountant might prepare.
If you like working with spreadsheets, it should be no trouble for you to build single-title P&Ls yourself. If you don’t, you should be able to find a template that you like pretty easily (for example, an inexpensive template is available from my site).
A single-title P&L is useful not only when you’re developing a new title (as in the example featured below), but also when you’re setting a book’s price, or deciding whether to do a special sales deal, and in literally hundreds of other situations….IBPA Members – Click here to view the full article (login required).
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