If Your Profitability Aim Is Nothing, You Will Reach It Every Time
In all my years of coaching and mentoring small to medium business owners and their teams I always tell them to set goals. Usually they will make goals about the obvious things; customers, competition marketing etc. But what ceases to amaze me is that they forget the most important and obvious goal; profit.
I know that every business hopes that they will make a profit, few make it a measure of success though. Many times, small business owners look at what they pay themselves as profit, but what you pay yourself if what you get paid for doing a job. Profit is what you gain from the investment of your time and talent.
Without profit what you have really done is just created a really hard job for yourself. The problem is you see, many business owners become fixated on growth but what they don’t understand is that without profit, it is simply more work.
Profit is measured of the return of your interest, set goals for profit leave and make decisions based on growing profit. Profit is how you build something you can sell and let’s face it, no one else would be crazy enough to enough to have your job without the profit.
You must start to make a profit, over above your fair market wage for the immediate and long term future of your business.
Our recommendation is that you either be a part of our Financial Benchmarking program or be a part of our Bean Counter workshops.
If you would like more information on any of our programs, or
would like to chat with an expert to see what is right for you give us a call now.
Helen Cowley: 0418 769 531, email or website
SBIS – Improving Knowledge, Confidence, Performance and Profitability.