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Direct vs. Indirect Costs: The Key to Growing Your Profit
If you want to increase your profitability, you must know your numbers, especially the expenses of your direct and indirect costs.
In this episode, I break down the difference between direct and indirect costs, and how to know if you’re charging enough so you can cover your business expenses while still earning a profit!
In this episode, you’ll also hear:
Must-listen moments:
[00:00:43] Direct expenses are expenses that are directly related to the sale of your product or service.
[00:02:46] Indirect expenses…they are things that cost to run your business, but they're not directly related to the item that you sell.
[00:05:44] Knowing the difference between those two [direct and indirect costs] is incredibly important because it'll keep you profitable. If you're charging enough for your product, and able to pay for your direct costs, and cover your indirect costs, and have money left over—that’s really good!
Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com
Reach out to Alisa: [email protected]
Connect with us on social media!
FB - https://www.facebook.com/FirstStepsFinancial
IG- https://www.instagram.com/firststepsfinancial/
LinkedIn -https://www.linkedin.com/company/first-steps-financial/
Podcast audio/video editing and show notes by http://www.podcastabundance.com/services
View all episodes
By Alisa McCabeIf you want to increase your profitability, you must know your numbers, especially the expenses of your direct and indirect costs.
In this episode, I break down the difference between direct and indirect costs, and how to know if you’re charging enough so you can cover your business expenses while still earning a profit!
In this episode, you’ll also hear:
Must-listen moments:
[00:00:43] Direct expenses are expenses that are directly related to the sale of your product or service.
[00:02:46] Indirect expenses…they are things that cost to run your business, but they're not directly related to the item that you sell.
[00:05:44] Knowing the difference between those two [direct and indirect costs] is incredibly important because it'll keep you profitable. If you're charging enough for your product, and able to pay for your direct costs, and cover your indirect costs, and have money left over—that’s really good!
Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com
Reach out to Alisa: [email protected]
Connect with us on social media!
FB - https://www.facebook.com/FirstStepsFinancial
IG- https://www.instagram.com/firststepsfinancial/
LinkedIn -https://www.linkedin.com/company/first-steps-financial/
Podcast audio/video editing and show notes by http://www.podcastabundance.com/services