This week we're going to start getting into the nitty gritty numbers of your business! We're talking about Costs of Doing Business and Goals.
There are 3 main categories involved in the cost of doing business:
- Costs of Running Business (CRB's)
- Cost of Service (COS)
- Cost of Goods Sold (COGS) - Product Related
Without knowing your costs, it's nearly impossible to plan and project or create goals for your future. It's not always fun, but the work is necessary and eye-opening!
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This week’s homework should be obvious. ;) You’re going to spend the time working out your costs and making some goals. It may take you a bit more time, but it’s possible that you have already worked out some of these things too. But, don’t skip it if you haven’t, because you’ll need the costs and numbers for next week’s assignment, too. Use the spreadsheets that you get with the course and really take the time and make the effort to get this part done. You’ll thank me later!