Earlier this year, the Knoxville Entrepreneur Center hosted Planning for Profit, a workshop designed to help entrepreneurs better understand the financial foundations of a sustainable business.

The session was led by Kristen Munson, Senior Business Advisor at Pathway Lending, who works closely with small business owners to help them navigate financial challenges and build stronger, more resilient companies. Drawing on her background as a CPA and her experience advising entrepreneurs, Kristen guided participants through practical ways to think about revenue, expenses, and profitability.

During the workshop, attendees explored how to interpret their income statements, understand the difference between fixed and variable costs, and calculate key metrics like gross profit and net profit. These tools help entrepreneurs better understand where their money is going and how pricing, costs, and operations impact their bottom line.

Participants also discussed strategies for improving profitability, including adjusting pricing, managing operating expenses, and building financial habits that support long-term business sustainability.