Knowing Your Costs Make You MoneyWelcome to today’s episode of I Hate Numbers. Knowing your costs makes you money, a statement of the obvious perhaps. The thing with statements of the obvious is we sometimes forget the business basics. In this episode of ‘I Hate Numbers’ I am going to take a real cool way to look at your costs and for you to get great insights into your business. I don’t mean whether they're naughty, or nice, but how they react according to what your business does.Why you should know what your costs areHaving a great product, customer focus, working hard, marketing, are all important. Knowing your costs helps you with a lot more, including:Calculating your profit, current and futureWhat prices to chargeYour break-evenPutting together your budgetControlling what you spendWhich customers lose you moneyCost Behaviour and Business ActivityCost behaviour is all about how your costs react and change. We need to factor in business activity to complete the picture. Some of your costs stay the same, whatever your business does; some of costs change, based on what your business does. Listen to find out more.ConclusionWhen you understand your costs more, you’ll inject oomph into your money making. The power of this insight and knowledge is numbers goldWhat NextGrab a coffee, make yourself comfortable, sit back and listen. Start looking at your costs and see if you can match make them to your business activity.I love doing this podcast and sharing my love of Numbers with you. Check out the link to subscribe and don’t miss an episode. Help me spread that Number Love by sharing it this podcast and others with your network.In This EpisodeKnowing your costs makes you moneyWhy understanding your costs is a big dealUnderstanding what costs behaviour meansDeveloping your own Numbers confidence and decisionsTake more control of your numbers to help make moneyLinks https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288 https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins https://www.stitcher.com/podcast/proactiveresolutionss-podcast https://tunein.com/podcasts/Business--Economics-Podcasts/I-Hate-Numbers-p1298505/

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