Should your labor hours be included in your cost of goods sold? Your COGS should always include any labor hours (including your own) that are part of creating or making the products as well as installing or providing the service. Today we will take a look at an example of someone that produces their own products and then resells them. If you want to be priced correctly and have a clean profit and loss, then take a listen.
YouTube Videos on P&L that Can Help:
👉 Profit & Loss Income Statement for Beginners
👉 Profit & Loss Playlist – Multiple P&L Videos
👉 Profit & Loss Review – Did Their Gamble on Payroll & Space Pay Off?
👉 Grab Your Free Know Your Business Numbers Reference Guide
👉 Want to Learn Your Business Numbers Better? Check Out this Affordable Course: Understanding Your Business Numbers
Here are some popular videos I have on YouTube:
👉 WEBSITE: BABOLearning.com
👉 YOUTUBE CHANNEL: BABO Learning for Badass Business Owners
👉 Want to Help Support the Channel? The Badass Business Owner Tip Jar
FREE GUIDES / TOOLS
👉 FREE eGUIDE: 8 Steps to Earning $100,000 in Income in Your Small Business
👉 FREE eGUIDE: How to Read a Profit & Loss Statement
👉 ** DISCLAIMER on Affiliate Links: I occasionally will have some affiliate links & I do earn a small commission but at no cost to you. I only recommend companies or items that I believe will save you time, money or help make your business better
👉 ** DISCLAIMER: I am not an attorney, CPA, bookkeeper, insurance agent or financial advisor. My videos/podcast are for entertainment & educational purposes only and should not be construed as tax, legal, insurance or financial advice. Please seek out a qualified CPA, attorney, or specialist as needed. I’m sharing my experiences with my businesses and those I have worked for and/or helped coach.
Local Small Business Owners are the Backbone of All of Our Communities!
The Badass Business Owner Podcast is for Small Business Owners who are tired of living job to job but want to grow their business income & their personal income. In each episode, we discuss how to increase your profits, boost your sales, improve your processes and develop stronger teams. Learn more about pricing correctly, your business numbers & your profit and loss income statement
WHO THIS CHANNEL IS FOR: small business owners who serve their local community, local small business owners, service based business owners, mobile businesses, brick and mortar businesses, handymen, landscapers, pool cleaners, cleaning services, carpet cleaners, window cleaners, ice cream shops, QSRs, restaurant owners, mechanics, plumbers, electricians, real estate agents, dog groomers, franchisees, tradesmen, medical, dentist, insurance, pet business owners, cake makers & those looking to increase profits, boost sales, improve processes and develop stronger teams. Entrepreneurs who want to make more money. Those who want to know their business numbers better!
#BABOLearning #KnowYourBusinessNumbers #BadassBusinessOwnerPodcast
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