This week’s oft-confused terms (margin and markup) give me my rant du jour. Do such silly little differences as whether something is calculated as a percentage of selling price or of cost really matter?
Only if your continued employment depends on achieving a certain profitability for company owners.
Only if you’re trying to communicate clearly with executives.
Only if you’re trying to understand important nuances.
Only if you’re trying to respect domain expertise.
Proposals often see us working with people we know not much in areas we know not at all. A good place to start is by learning the basic jargon. Or at least not being impatient of nuances that seem inconsequential to us, whether those nuances are grammatical, technical, managerial, or financial.
Ask, listen, and learn.