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The Terrible Cost of Business Illiteracy

March 20, 2018

Via: Forbes

We know an entrepreneur who was considering opening his books to his company’s employees. Before he did, he wanted to see how much they knew about the business. So he told them his revenues were about $10 million and asked how much profit they thought the company earned on those sales.

The guesses ranged from $2 million all the way up to $5 million. And this was an industry where average after-tax net was about 5%.

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