📊 Know Your Numbers! 💰

This week, our class had the pleasure of learning from guest speaker Allison Hasler of Southern Illinois Vacation Rentals! She shared the history of her business and led a deep dive into one of the most important topics for any entrepreneur: Cost of Goods Sold (COGS).

We broke it down by looking at both a service-based business and a physical product-based business, walking through how to calculate costs per unit or service, compare it to profit margins, and—most importantly—factor in our time.

A key question she posed:
“How do you know you’re at least making minimum wage at $15 an hour?”

The biggest takeaway? KNOW YOUR NUMBERS. Because if you don’t, how will you know if your business is truly profitable?

Huge thanks to Allison for sharing her expertise!