Perhaps the most basic concept in business – you need to price (and sell) your products for more than it costs you to produce. You may not realize you’re losing money on one crop if you only look at your business as a whole unit. And if you’re losing money (or only making 10 cents a pound) then no volume of sales will create a sustainable business. In this section, we’ll learn how to calculate the cost of production so that you know how to price your products, and earn enough to cover your overhead and pay yourself!
At the end of this section, participants will understand:
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