The Basics of a Profit amp Loss Income Statement for Small Business Owners

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Are You a Small Business Owner wanting to learn your profit and loss income statement better? Not sure where to start? Let’s walk through the basics of a P L Statement and show you what information it shows you. We will also cover how a profit and loss statement can help you in your small business. • If Interested in diving deeper. Here is a video where I take a look at a Profit and Loss Statement and What it is Telling Us.... • Profit Loss Income Statement Review... • KEY MOMENTS IN THE VIDEO: • 00:00 The Basics of a Profit Loss Income Statement for Small Business Owners • 00:35 The 5 Key Sections of a Profit Loss Statement • 05:55 What Your Business Profits Should Be Used For • 07:16 P L is the Flow of Money Thru Your Business • 07:52 How to Use the P L in your Pricing Purchases • 10:19 Your Profit Loss is the Story of Your Business • ----------------------------- • WANT TO DIVE IN DEEPER LEARN MORE ABOUT YOUR NUMBERS? • 👉 Check Out the AFFORDABLE - Know Your Business Numbers Course http://KnowYourBusinessNumbersCourse.com • ----------------------------- • WANT MORE? HERE ARE SOME OTHER VIDEOS TO HELP… • 👉 Pricing Your Products Correctly – • How to Price Your Products Correctly • 👉 Pricing Your Services Correctly - • How to Price Correctly in a Service B... • 👉 How to Read a Profit Loss Statement - • The Basics of a Profit Loss Income ... • ----------------------------- • POPULAR FREE GUIDES • 👉 FREE eGuide: 8 Steps to Earning $100,000 in Income in your small business - http://bit.ly/8Steps100k • 👉 FREE eGuide: How to Read a Profit Loss Statement - https://bit.ly/ReadPL • 👉 FREE Start Up Guide for Starting a Business - https://bit.ly/BusinessStartUpGuide • ----------------------------- • TOOLS TO HELP YOU RUN A BETTER BUSINESS • 👉👉👉Recommended Bookkeeping: My #1 Recommended Resource for Small Business Owners. A profitable business Starts with knowing Your Business Numbers. Quickbooks Online https://babolearning.com/quickbooks • 👉 Quicken - Home Business Finances https://babolearning.com/quicken .......Great for beginners with no need for online payment options (Windows version only will do a Profit Loss Report) – No monthly fees • Managing Day to Day Tasks, Scheduling, for Home Service Pros • 👉 Housecall Pro (https://babolearning.com/housecallpro ) 👉 JOBBER: https://babolearning.com/jobber --- Online software for home service pros. Manage many day to day tasks, same time money. Get paid quickly (they can link to Quickbooks Online) Both are easy to learn (even if you aren’t techy!) • 👉 Gusto Online Payroll - ( https://babolearning.com/gusto ) a fantastic, easy to use online payroll system. Why spend your time doing payroll yourself? • ---------------------------- • Books I Recommend to Help Take Your Business to the Next Level • 👉 Profit First by Mike Michalowicz – https://amzn.to/3nBsCRC • 👉 eMyth Revisited by Michael Gurber - https://amzn.to/3bMDTeR • 👉 Atomic Habits by James Clear - https://amzn.to/3kpXs1m • 👉 Building a Storybrand by Donald Miller - https://amzn.to/3y5t0fS • 👉 The ONE Thing by Gary Keller Jay Papasan - https://amzn.to/3yciFi7 • 👉 The 12 Week Year - Brian Moran Michael Lennington - https://amzn.to/3R54Smi • ----------------------------- • COURSES to HELP YOU • 👉 Understanding Your Business Numbers - http://KnowYourBusinessNumbersCourse.com • 👉 Start a Local Small Business – http://StartASmallBusinessCourse.com • ----------------------------- • MORE: • 👉 Check Out the Website: https://babolearning.com • 👉 Listen to the Badass Business Owner Podcast on Spotify or Apple Podcasts – • Iphone: http://bit.ly/LSBCpodcast1 | Android: http://bit.ly/LSBCGoogle | Spotify http://bit.ly/LSBCPodcast • 👉 Want to Help Support the Channel? Click the Super Thanks!  • ----------------------------- • 👉 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! • • WHO IS THIS FOR: small business owners who serve their local community those looking to increase profits, boost sales, improve processes and develop stronger teams. Entrepreneurs who want to make more money know their business numbers better! • • #KnowYourBusinessNumbers #SmallBusinessOwner #tipsforSmallbusiness

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