Money Matters: You’re in business to make money

Making a profit is not a dirty word, in fact it’s your duty as a business owner to prioritise profitability.

Stats show that many businesses are barely breaking even or going backwards. If you’re falling into the same trap, you may need to shift focus from just servicing customers to actively managing and maximising profits.

There are three principles for financial success: 1. Be unapologetic about making profit: Embrace profitability as a core measure of success without guilt. 2. Know your numbers: Understand financial metrics to make informed and strategic decisions. 3. Value profit over ego: Prioritise sustainable growth and profitability over appearances or pride.

In this episode you’ll learn: 

???? Profit is essential for a business to survive and thrive.

???? Focus on profitability instead of chasing high revenue for validation. 

???? Profit provides the resources to achieve both personal and business goals. 

???? Separate your personal income from the business’s overall profitability.

???? Avoid making ego-driven decisions that prioritise appearances over profitability.

???? Prioritising profit is vital and should never be seen as selfish.

???? A profitable business allows freedom, flexibility, and financial stability.

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“It’s true that money is not the most important thing in life, but money does affect everything that is important to life.” by Robert T Kiyosaki, in his book, ‘Rich Man, Poor Man’.

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