Use Your Profit/Loss Income Statement to CREATE MORE PROFIT!

The income section is where the fun begins. After all, we all love sales, and here is where you will capture all the sales you have in your business!

In our next section, we go over the Cost of Goods Sold also knowns as COGS. Here is the section that so many small business owners fail to capture all the actual costs of the products or services they sell.

This one little line will give you insight into your potential profits. While you still have another big bucket of expenses, this line can let you know if you are on track to have a profit in your business.

The section of the P&L causes many headaches for small business owners. Costs can add up and this section can show you where you are losing profit $5 - $50 at a time and now even realize it. Every dollar saved here can go straight to your bottom line.

Did your business have a profit? Or did it have a Loss? In this section, we get down to the bottom line of your business's success for the month or year!

Information can be gold! By staking your P&L by months, years, etc you can dive in and find some nuggets that will lead to more sales and profits!

Most small businesses aren’t pricing correctly. They fail to account for items on the P&L Income Statement. In the next few sections, we will take a look at how to use your profit and loss to price correctly.

Let’s use your P & L and see who you can improve your pricing strategy for your products

Let's Wrap this Puppy Up and Download an easy Handout Guide You Can Use

Here is a handy guide you can print and use as you begin your journey to understanding and using your profit & loss statement