<b>SOP #46 — Costing the Invisible Owner Labor</b>

<b>SOP #46 — Costing the Invisible Owner Labor</b>
A P&L showing 90% margin often hides 30 unpaid owner hours a week. Price the labor you'll have to replace.

— Step 1: List every recurring task: content, link outreach, tech, customer email, social. Get a per-week hours estimate per task in writing.
— Step 2: Apply a real replacement cost (writer, VA, dev) to each. Subtract from net profit. Pass only if the labor-adjusted margin still meets your threshold.
— Step 3: Identify tasks only the owner can do — relationships, proprietary process. These are transfer risks, not just costs.
— Step 4: Check whether "freelancers" in the P&L are actually the owner under another name.
— Step 5: Re-run the multiple on owner-adjusted earnings, not stated net.

You're buying a job unless the labor is already on the books.

Save this — run it every deal.

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