Profit & Loss Statement Basics | Understanding Your Profit and Loss Statement

Wishing You Had a Better Understanding of Your Business’s Numbers? It all starts with understanding the most powerful tool you have – Your Profit & Loss Statement.

In this video, we will walk through a basic profit and loss statement (income statement) and help you become comfortable with what it is telling you.

Profit & Loss (P/L) Statements are Your Business’ Report Card, so let’s dive in.

Want More? Here is a Full Playlist of Each Section so You Can Learn More: https://www.youtube.com/watch?v=kBNLtGkr7iw&list=PLkSR9dYanvV1YssoiyqLBUlgxYy2hYADj

UPDATED VERSION of Profit and Loss Statement for Beginners - https://youtu.be/jFgqMVmXbx4

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Want to Dive in Deeper & Learn More About Your Numbers?
👉 Grab Your Free Know Your Business Numbers Reference Guide: https://babolearning.com/KYBNReferenceGuide
👉 Check Out the AFFORDABLE - Know Your Business Numbers Course http://KnowYourBusinessNumbersCourse.com

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Want more? Here are some other videos to help…
👉 Pricing Your Products Correctly – https://youtu.be/AQ_mUb1E9MQ
👉 Pricing Your Services Correctly - https://youtu.be/doAKxyRa4pM
👉 How to Read a Profit & Loss Statement - https://youtu.be/x6qdKGnWE0w

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PLAYLISTS TO CHECK OUT:
👉 Learn How to Read Your Profit & Loss Income Statement: https://www.youtube.com/playlist?list=PLkSR9dYanvV1YssoiyqLBUlgxYy2hYADj
👉 PLAYLIST: Pricing Your Products & Services https://www.youtube.com/watch?v=X89AFodPA3U&list=PLkSR9dYanvV0yWIzfFldB1sGx7Dfmn3Do3
👉 PLAYLIST: Learning Your Business Numbers Better: https://www.youtube.com/playlist?list=PLkSR9dYanvV1tPjNcLppOPDDBn6i4Sdzw

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FREE GUIDES / TOOLS

👉 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
👉 Free Business Health Check: https://localsmallbusinesscoach.com/businesshealthcheck
👉 Free eBook: 10 Questions to Ask in Your Business https://bit.ly/10QuestionsBiz
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Books I Recommend to All Small Business Owners – 5 Must Reads
👉 Profit First by Mike Michalowicz – https://amzn.to/3nBsCRC
👉 eMyth Revisited by Michael Gurber - https://amzn.to/3bMDTeR
👉 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

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TOOLS TO HELP YOU RUN A BETTER BUSINESS

👉 Housecall Pro: https://babolearning.com/housecallpro - Straightforward software for home service pros. Work simpler and grow smarter with Housecall Pro. Easily manage payments, link to Quickbooks, scheduling, dispatching, and more--all from one, convenient platform. Easy to Learn. Want more efficiency in your business? (not gonna lie – affiliate link) 😊 But I do believe in it’s ability to help your business!

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👉 Check Out the Website: https://babolearning.com
👉 Listen to the Badass Business Owner Podcast
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COURSES to HELP YOU

👉 Understanding Your Business Numbers - http://KnowYourBusinessNumbersCourse.com
👉 Start a Local Small Business – http://StartASmallBusinessCourse.com

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👉 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.

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WHO IS THIS 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, appliance repair, dog walkers, 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 & know their business numbers better!
#BABOLearning #KnowYourBusinessNumbers #SmallBusinessOwner

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